TAKEN FROM ,”THE FALL OF AMERICA(COURTESY OF SEVENTHFAM.COM),…..”The Fall of America

CHAPTER 62

The Worst is Yet To Come

——————————————————————————–

1 According to radio and television, and according to individual conversation — and according to conversation heard between government officials concerning their problem of trying to find a way to peace for their people — and a way to find stoppage of the fall of their money market and unemployment — and a stoppage to the revolutions between the dissatisfied and the dissatisfied — and to find a way to be able to eat — and to keep the hungry eating from his own labor — pacification is offered but it does not satisfy.

2 With nations rejecting peace offers and nations laughing and making mock of you for ever seeking peace and friendship — as it is written, ‘Peace is desired more than fine gold!’

3 Now to see all of these things coming to pass — things that we did not know that we would see. We did not know that we would see such a Goliath — such a giant — falling.

4 Goliath! who has defied the nations of the earth t come out and fight with them, as Goliath did before Israel. Now, nations make mock of the great giant of the earth, America.

5 The sword within and the sword without! Trouble seems to have no end. And with tens of millions of free Black slaves crying for freedom, justice and equality from the white slave-master — and the white slave-master wanting to deceive the Black slave and make promises that the white slave-master does not intend to fulfill to his free Black slave —

6 And with the free Black slave thinking that he will eat some crumbs of freedom, justice and equality from his white slave-master — the free Black slave will be gravely deceived!

7 The white slave-master cannot free himself from his enemies, not to think of the white slave-master freeing himself from the consequences of the dissatisfied world.

8 So, with “The Worst Yet To Come,” I say to you my Black brothers and my Black sisters fly to Allah; and come follow me! There are some intelligent white people who know and who will bear witness with me that the worst is yet to come!

9 Look at Texas! There is a warden at a certain prison-house who sends the believers (Muslims) to the Temple so that they may listen to the truth which is their salvation today; to accept the truth.

10 I think that this is a very wise warden. It is like Ahab’s general (Bible). The general knew that Ahab was wrong and that Elijah was right.

11 Ahab’s general took four hundred of Elijah’s followers and hid and fed them with the bread of Ahab in order to save them from hunger while they were in captivity to Ahab.

12 I say to you leaders, remember the above-said of this writing, that “The Worse Is Yet To Come!” As the Bible teaches us that “a time would come that had never come before,” and that those who understood — ‘their hearts would be failing them with fear and their eyes would go away in their holes” for looking at the things that they saw coming on their people — the trouble! the destruction! and the plagues!

13 Look at the earthquakes that are taking place. Those earthquakes are on their way here. We are feeling the earth shaking under our feet across the country!

14 As the Holy Qur’an prophesies to us, “you will hear it coming from distant places with vehement raging and roaring!”

15 America is best all around now with troubles and destructions which have happened. America thought that she was immune to the troubles and destructions which are going on in other nations.

16 Now the same trouble and destruction that you read of as happening in other countries and to other nations — these same troubles and destruction, with their evil and gruesome sound, are knocking on the door of America! ”

NOW READ;”U.S. Economy: The Worst is Yet to Come

By Mark Weisbrot, Huffington Post. Posted May 29, 2008.

Nobody can predict exactly where the bottom will be, but it’s clear that we’re not even close to hitting it. Tools
EMAIL
PRINT
74 COMMENTS
Share and save this post:

AlterNet Social Networks:

Also in Corporate Accountability and WorkPlace

Re-Appointed Fed Chief Ben Bernanke Didn’t Get Us Out of the Economic Crisis, He Helped Cause It
William Greider

The Fast Food Industry’s 7 Most Heinous Concoctions
Brad Reed

Wal-Mart Faces Its Day of Reckoning
Frank Nelson

House ‘Under Water’? Do Like the Banks Do and Just Walk Away
Scott Thill

Revolt on Goose Island: The Chicago Factory Takeover, and What it Says About the Economic Crisis
Kari Lydersen

Of Ponzi Schemes, Bubbles and Banks
Arthur MacEwan

More stories by Mark Weisbrot

Corporate Accountability and WorkPlace RSS Feed

Main AlterNet RSS Feed
Advertisement
Upcoming AlterNet stories on Digg DiggWhat is Digg?
1784 diggsThere Are More Slaves Today Than Any Time in Human History
One writer spent four years inside the world of modern-day slavery, and what he saw will shock you.
453 diggsThe Fast Food Industry’s 7 Most Heinous Concoctions
Some of America’s favorite chains have concocted some thoroughly repellent dishes that make the Double Quarter Pounder look like a celery stick.
294 diggsThe 8 Weirdest Ways to Go Green
From the solar-powered bikini that can charge your iPod to the benefits of eating free range snails, here’s few things you may not have thought of yet.
67 diggsSarah Palin’s Facebook ‘Friends’ Celebrate Kennedy’s Death
One commenter: “Now if we could just talk God into taking Arlin Spector, Harry Reid,and Nancy Pelosi America would be Eutopia!” and another: “good riddens”
40 diggsMeet the Man Who Is Taking On Glenn Beck
James Rucker and Color of Change have been successful in convincing 36 advertisers to drop the Glenn Beck show. Here is how they did it.
Powered by Digg’s UsersSince the U.S. economy showed positive growth for the last quarter, some commentators in the business press are saying that we are not necessarily going to have a recession, or that if there is one it will be mild. This is a bit like the proverbial story of the man who jumped out of a window 60 floors up, and then said “so far, so good,” as he passed the 30th floor.

The United States accumulated a massive, $8 trillion housing bubble during the decade from 1996-2006. Only about 40 percent of that bubble has now deflated. House prices are still falling at a 20 percent annual rate (over the last quarter). This means that the worst is yet to come, including another wave of mortgage defaults and write-downs. Even homeowners who are not in trouble will borrow increasingly less against their homes, reducing their spending.

President Bush says we are not in a recession. One commonly-used definition of a recession is two consecutive quarters of declining output (GDP). The first quarter of 2008 came in at 0.6 percent, although it would have been negative if not for inventory accumulation. So by this definition we cannot say with certainty that the recession has started, although it could well have started this quarter. Of course, for most Americans it has felt like a recession hit some time ago, with real wages flat since the end of 2002, and household income not growing for most of the six-and-a-half year economic expansion.

The National Bureau of Economic Research will eventually decide on the official onset of the recession, but even its definition is arbitrary. All the indicators of a serious recession are swirling around us. The economy has lost jobs for four months in a row, which has never happened without a recession. Consumer confidence has dropped to a 28 year low — a level not seen since Jimmy Carter was president. Home foreclosure filings are up 65 percent over last year. And now commercial real estate prices are heading south, dropping 6.2 percent in the first quarter.

With oil prices hitting record highs, and the Fed beginning to worry more about inflation, more restrictive lending practices and other fallout from the credit crunch, the near-term economic future looks even dimmer.

Some look to exports to lead the recovery, but these are only 11 percent of GDP, and consumption is about 70 percent. Still, the fall in the dollar over the last six years is helping — making our exports more competitive and reducing the subsidy that we have been giving to imports for many years. In a sign of how economic illiteracy prevails in the United States, most people (thanks largely to what they hear and read in the media) see the dollar’s decline as bad economic news.

We are facing the prospect of millions losing their homes, their jobs, their retirement savings, their health insurance, and their livelihoods.

This serious economic situation greatly raises the stakes of the 2008 election. What will the government do to help the victims of economic mismanagement, to provide health insurance, and to restart the economy? Is it really more important to spend billions each week on the occupation of Iraq?

So far the government hasn’t done much. The stimulus package now taking effect, at about one percent of GDP and much of it likely to be saved, is quite small. The major legislation that Congress is considering for the housing crisis would mainly bail out lenders and investors while doing little for most underwater homeowners.

The voice of the people has yet to be heard on these questions in the halls of power. It had better get a lot louder, soon.”