Jim Bakker Show - The Economy is Slowing Down - Michael Snyder
Aired: 2017-01-17
Duration: 05:17


=== Dramatic Debt Spike (05:16) ===

[00:00:00]  We've been talking this week about the condition of America.
[00:00:06]  What condition is America in today financially?
[00:00:12]  Yeah, well, in terms of our national debt, you go back and look at when Barack Obama first set foot in the White House.
[00:00:20]  The U.S. was $10.6 trillion in debt.
[00:00:24]  Now we're over $19 trillion in debt.
[00:00:26]  So what we've done with all this debt, and it's not just government debt, but it's business debt.
[00:00:31]  Corporations are more in debt than ever before.
[00:00:33]  Consumers are going crazy with debt.
[00:00:35]  Well, what we've done is we've drawn consumption from the future to bring it into the present.
[00:00:39]  Basically, we've borrowed from the future to make what's going on right now look better, and yet we're still in such a mess.
[00:00:46]  So, you know, what in fact, the next major economic downturn is already here.
[00:00:52]  And I want to show you a graphic which kind of illustrates that.
[00:00:55]  If you've got it, if they've got it in the back, if you could put up the graphic with the cash shipping index.
[00:01:01]  And what I want to show you, the cash shipping index, I want you to look at the three lines on the screen.
[00:01:06]  Now, what you can see here is that the line at the top is 2014.
[00:01:10]  Now, in 2015, last year, for the first couple months, it was tracking above 2014, but then you get to March.
[00:01:18]  And starting in March, every single month last year, less stuff was being bought and sold and shipped around the country through these various methods than the year before.
[00:01:29]  So you could say, well, one month maybe there was some bad weather or whatever.
[00:01:32]  But every single month starting in March last year, less stuff was being bought and sold and shipped around the country.
[00:01:38]  So and when more stuff is being bought and sold and shipped around the country, that means the real economy is doing good.
[00:01:43]  But when less stuff is moving around the country, being bought and sold and shipped, that means the real economy is starting to slow down.
[00:01:50]  Now, if they can bring this up one more time again, now we get to 2016.
[00:01:55]  And you can see in 2016, we're tracking beneath even the depressed levels of 2015 for the first four months.
[00:02:02]  So we've had 14 months in a row when we've been had less stuff being shipped and moved around the country by various methods than we did the previous year.
[00:02:14]  So real economic activity is shrinking.
[00:02:18]  Now recently I wrote this article in which I showed a photo, Pastor Jim, from Google Earth, of there's 292 Union Pacific train engines sitting in the middle of the Arizona desert doing absolutely nothing because there's literally nothing for them to do.
[00:02:37]  That's right.
[00:02:38]  Last month, rail traffic in the United States was down about 11% compared to the previous year.
[00:02:43]  So rail, I mean, the railroads are already having a depression.
[00:02:47]  And then one of my readers sent me a newspaper clipping from North Dakota, which showed a similar thing up there.
[00:02:52]  Engines just sitting there doing nothing, talking about how they're laying off workers because there's nothing to ship.
[00:02:59]  There's nothing to move.
[00:03:01]  The real economy is dramatically slowing down.
[00:03:06]  You say that there's evidence that someone out there is vetting on an unprecedented amount of money on an imminent market crash.
[00:03:17]  Can you share that evidence with us?
[00:03:20]  Yeah, I can, Jim.
[00:03:21]  If you want to pull up, there's another chart.
[00:03:23]  It's the UVXY, and it shows a financial instrument.
[00:03:29]  Now, I'm going to show you this chart about this financial instrument.
[00:03:32]  Now, you can look at that chart.
[00:03:33]  That looks pretty dramatic.
[00:03:34]  Now, what this particular financial instrument, it's designed to track the VIX.
[00:03:40]  If you're familiar with the VIX, it's a measure of volatility on the stock market on Wall Street.
[00:03:45]  And so why you would get into this instrument is because you expect a tremendous amount of volatility.
[00:03:50]  And when that happens is at times when there's a market crash.
[00:03:56]  So you can see on the chart, if they bring that up again, is that right here in early 2016, there's been a dramatic just spike.
[00:04:04]  I mean, it's like a hockey stick.
[00:04:07]  Dramatic.
[00:04:08]  Someone or someone's out there has made this massive bet that basically the market's going to crash.
[00:04:15]  Because the only reason you buy, you pour tons and tons and tons of money into this financial instrument is because you think the VIX is going to go off the chart.
[00:04:23]  You think there's going to be a major market crash.
[00:04:26]  So someone out there not only believes that there's going to be a tremendous market crash, but they're betting just insane amounts of money, just pouring gobs and gobs of money into this financial instrument, betting that the financial markets are going to crash.
[00:04:40]  So they're just not talking about someone's made just gigantic bets with their own money that this is going to happen.
[00:04:47]  Now, if it happens, they stand to make just enormous gobs of money if they're correct.
[00:04:53]  So someone out there, we don't know who it is.
[00:04:57]  Really?
[00:04:57]  But they're betting the major market crash is imminent.
[00:05:02]  So if they're right, they're going to make a tremendous amount of money.
[00:05:04]  If they're wrong, they're going to lose money.
[00:05:07]  But as you can see from the chart, we haven't seen anything like this before.
[00:05:13]  This is unprecedented.
[00:05:14]  I mean, it's just like blowing the lid off.