Is a world-wide economic collapse prophesied in the Bible?
On Saturday, April 27, 2013, I was interviewed by host August Rosado of the BlogTalkRadio show Signs of the Times. August is a Bible prophecy teacher and preacher and founder of a ministry called Today in Bible Prophecy. He has and continues to be a personable guest on our television program Christ in Prophecy. He and I spent some time discussing prophetic trends and events that we are seeing occurring today.
Nathan Jones: Fear plays largely into the end times. Not only are we talking about terrorist attacks which of course are undermining people’s confidence, but how society now being so connected economically as well as socially also makes this fragile world a more frightening place. Every time there’s some sort of stock market calamity, it effects the entire world. Take for instance in 2000-2002, the tenth worse stock market crash ever happened, and it lasted over 999 days with a 37.8% loss in income.
Then we had the crash of 2008, which we are still reeling from globally, where 1.2 trillion dollars was lost and the stock market went down interestingly enough 777 points. People lost two trillion dollars of their overall retirement savings. The cost of living for what was $100 just four to five years ago is now only worth $45, resulting in more than half of the value of our money is now gone.
And yet, as bad as it is now, we know that during the Tribulation the Bible reveals that from the Third Seal Judgment of Revelation 5:6 that humanity will soon be facing a worldwide economic collapse. In response to that disaster, the Antichrist and the False Prophet who will be the rulers of the world during that time period, they will institute a global financial system. People will readily join into that system to rescue themselves from the famines and the horrible distress that worldwide economic collapse brings.
We can clearly see today the fragility and stresses on the worldwide economy, so much so that economic collapse is not a matter of if, but when, the structure is going to finally collapse. When this happens to the entire economic system, the world will naturally in desperation look for a ruler to take charge and bring some sort of order back from the chaos. Economic collapse also results in temporary lawlessness. Lawlessness will increase along with terrorism and crime, contributing to driving the world to some sort of ruler for whatever hope they can get.
So, while it’s an exciting time to live, it’s also a terrible time, wouldn’t you agree? I can indeed then see why heart attacks are on the rise, because it is indeed a fearful time to live in.
August Rosado: Yes, you make a good point there. Nathan. It looks like today’s conditions that we are witnessing right now are setting the stage for the Man of Sin to come on the scene, this Antichrist mentioned in 1 John 2:18, to take advantage of the devolving situations which we are witnessing coming together by and large right now. The Antichrist will institute his own economic global institution, which I believe we find that explained in Revelation 13:16-18. Definitely, I believe the conditions are ripe right now for this man to come on the scene and take control of a future revived Roman Empire in which students of Bible prophecy like myself and others believe is currently being fulfilled in the European Union.
Nathan Jones: I totally agree. Humanity is being set up for something big, and clearly all the pieces are ready to fall into place. We are just looking for that one impetus that will get this chain of final events started. Like dominoes, the economies of the world will all eventually fall down.
In the fourth segment of August Rosado’s and my discussion of current prophetic trends and events, we will explore where the United States stands in end time Bible prophecy and what verses do or do not prophecy its role in these last days.