Headline News

Is the US Headed for Double-Dip Recession?

Published

15 years ago

August 3, 2011

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The U.S. economy is showing signs of slipping back into a recession thanks in part to financial strain at the state and local levels, says Meredith Whitney, head of Meredith Whitney Advisory Group.

Whitney, who accurately called the financial crisis of a couple of years ago, said in late 2010 that widespread defaults were possible at the municipal levels.

That hasn’t happened yet, but state and local economies — as well as the national one — are in for tough times ahead, debt-ceiling impasse notwithstanding.

“I think you are getting increasing signs that we are really at risk for a double dip because our GDP number on Friday was an indication that states and local governments, 12 percent of GDP, are really pulling back,” Whitney tells CNBC.

Gross domestic product grew 1.3 percent in the second quarter of 2011, below private-sector forecasts for 1.8 percent, according to the Commerce Department.

While the debt-ceiling impasse was hard on everyone, states are in bad shape on their own regardless.

Federal stimulus money once pouring into local governments is drying up, and since 46 states are in the process of balancing their budgets, cuts to social programs and in contracts to private companies are going to rise.

“This affects the macro environment, this affects employment, this affects spending, this affects every corporation within the United States because so many corporations are reliant on contracts from state and local governments,” Whitney says.

“So this [debt crisis] situation in D.C. exacerbates it, but the states are in a bad situation even without the situation in D.C.”

Important: Can you afford to Retire? Shocking Poll Results

State and local governments will be forced to make the most draconian cuts are the ones that were most tied to the housing boom and will end up slashing social programs and raising taxes.

The states that have clean balance sheets and don’t have anything to worry about, in areas that we call the emerging markets of the United States, are going to attract more businesses, have higher tax surpluses and not have to cut programs and not have to raise taxes.

Others agree that the economy is risking dipping back into recession, especially after the debt-ceiling impasse and its effects on confidence. Many in the financial world markets are already buzzing about the S & P’s downgrading of American credit. In case you don’t know what that means to you. It means higher interest rates. Jimmy Carter style interest rates may be the result.

Congress has approved the government’s $14.3 trillion debt ceiling and thereby steered the government away from default by yesterday Aug 2,nd Tuesday’s deadline. Ratings agencies have said the U.S. could lose its AAA rating if it defaulted. FOr me the jury is still out on that prediction. Even if the government did avoid missing its obligations, it’s still unclear whether the damage the impasse has had on the country plus the enormous debt burden the government carries prompts some agencies to downgrade the country’s ratings anyway. In spite averting default yesterday the markets reacted negatively with a 200 plus loss in the stock market.

Growing uncertainty about the ultimate outcome inevitably has some negative effect on business capital investment and hiring as the Aug. 2 deadline came and went alluded to by David Crowe of the National Association of Home Builders, according to CNN.

Other economists were less worried. “If a deal appears imminent, there will not be any impact on GDP,” says Bill Watkins, executive director of the Center for Economic Research and Forecasting, CNN adds.

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Free Bible Program

Chaplain Farwell Of The Elmira Correctional Facility In Upstate New York Writes To Tell Us Of The ‘Desperate Need’ Of Their Inmates For Copies Of The Word Of God

Published

1 day ago

February 19, 2026

Geoffrey Grider

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The Elmira Correctional Facility in update New York has an urgent need for hundreds of copies of God’s preserved word

Elmira Correctional is a maximum ‘A facility’ in upstate NY, writes Chap Farwell. He says “We house between 1500 – 1600 incarcerated men. Approximately 600 are in our Reception Center either as parole violators, recidivists, or first time offenders awaiting classification that will send them to another correctional facility to serve their sentences and to be enrolled into a program designed to correct their behavior. Most don’t have any faith life at all even though their families may have. However, when the reality of being incarcerated hits them they reach out in desperation, which is where we as chaplains come in.” Chaplain Farwell is serving on the front lines, and Bibles Behind Bars is keeping his supply lines open.

“But the LORD was with Joseph, and shewed him mercy, and gave him favour in the sight of the keeper of the prison.” Genesis 39:21 (KJB)

Chap went on to say “Most ask for Bibles and for many it is their first one. As chaplains, we direct them to scripture and let them know that God loves them and quite possibly this is God’s plan for them. This is where they can encounter God, but they have to come to know God and the Bible helps them to do their part. We give these Bibles freely in the hope that they will give God a chance to speak to them and they can speak to God. We are constantly seeking Bibles and if you can be a source to provide them we would be most grateful. We especially need large print. Whatever you can do would be most appreciated. God bless you for your work.” Christian, God has called us to stand in the gap for the ‘least of these’ and to give them a copy of God’s preserved word. Come help us to do that, we need you!

HOW TO DONATE: Click here to view our WayGiver Funding page

If God has prospered you, please take a moment to click on the donate button to help us in this monumental task of providing King James Bibles, New Testaments, scripture portions, gospel tracts as well as Spanish Bibles to inmates in jails and prisons from Florida to Alaska, and every state in between. We need your prayers, we need your generous financial support, and we need you to stand with us in the closing days of the Church Age. Thank you so very much, TO THE FIGHT!!!

NOTE: If you need a 501 C3 Letter of Donation for tax purposes, please send your donation to:

NTEB Ministries
1340 N Great Neck Rd.
Ste. 1272-129
Virginia Beach, VA 23454.

Now The End Begins is your front line defense against the rising tide of darkness in the last Days before the Rapture of the Church

HOW TO DONATE: Click here to view our WayGiver Funding page

When you contribute to this fundraising effort, you are helping us to do what the Lord called us to do. The money you send in goes primarily to the overall daily operations of this site. When people ask for Bibles, we send them out at no charge. When people write in and say how much they would like gospel tracts but cannot afford them, we send them a box at no cost to them for either the tracts or the shipping, no matter where they are in the world. We have a Gospel Billboard program. We are now broadcasting Bible studies, Podcasts and a Sunday Service 5 times a week, thanks to your generous donations. All this is possible because YOU pray for us, YOU support us, and YOU give so we can continue growing.

But whatever you do, don’t do nothing. Time is short and we need your help right now. The Lord has given us an open door with a tremendous ‘course’ for us to fulfill that will create an excellent experience at the Judgement Seat of Christ. Please pray for our efforts, and if the Lord leads you to donate, be as generous as possible. The war is REAL, the battle HOT and the time is SHORT…TO THE FIGHT!!!

“Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ;” Titus 2:13 (KJB)

“Thank you very much!” – Geoffrey, editor-in-chief, NTEB

Cryptocurrency

World Liberty Financial, Owned By The Trump Family, Unveils USD1 Cryptocurrency That They Say Will Give The US Dollar An Upgrade, Why Are They Doing It?

Published

1 day ago

February 19, 2026

Geoffrey Grider

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World Liberty Financial owned by the Trump family looks to cash in big time with launch of their USD1 stablecoin they say will ‘upgrade the dollar’

There is nothing ‘accidental’ about the timing of this. A Trump family–backed venture unveiling a dollar-pegged cryptocurrency called USD1 and branding it as an “upgrade” to the U.S. dollar is not simply a fintech headline — it is a prophetic red flag. And Bible believers should not shrug this off as harmless innovation. This is not about “modernizing money.” It is about accelerating the migration of financial control from physical, decentralized cash into programmable, trackable, controllable digital infrastructure. And once that infrastructure is normalized, it will not matter who built it.

“Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.” James 5:3 (KJB)

In the entire 250-year history of the United States, no presidential family has profited off the office of the president to the degree that President Donald Trump and his family are doing right now. Remember the $30 million the Biden family is claimed to have made for selling access to the office? Ha! That amount is so small that to compare the two would be laughable. The Trump family, so far, has made nearly $4,000,000,000.00 to date, and that figure could easily quadruple itself by 2028. But this is more than just a huuuuge payday for Trump INC., this is the foundational system for the Mark of the Beast that will ultimately control all buying and selling. You called them the Biden Crime Family when they profited, but you’re loving it when ‘Daddy’ Trump is the one doing the plundering. Isn’t ‘America First’ great?

Trump family says U.S. dollar needs an USD1 upgrade and they are the ones to do it

FROM CNBC: The Trumps’ company, World Liberty Financial, touts USD1 as an improvement on official U.S. currency. The firm’s website brands its stablecoin as “The Dollar. Upgraded.” And it calls the coin “still the US dollar, but for a new era.” On Wednesday, the firm held the World Liberty Forum at Mar-a-Lago, the club owned by the president and operated as his winter White House.

The event, coming just before the first anniversary of the release of USD1, brought together financiers, technologists, television personalities, the president of the world soccer organization FIFA and the artist Nicki Minaj. From a Mar-a-Lago ballroom stage beneath an enormous stylized golden eagle sculpture, the message to attendees was that the old U.S. dollar needs to be modernized, that the private sector is the place to drive that innovation, and that stablecoins will help taxpayers by creating structural demand for U.S. government debt.

In fact, World Liberty backers argue, the new cryptocurrency they are building is not a threat to the dollar at all, but will help ensure the dollar remains dominant in global crypto finance — because USD1′s value is pegged to it.

But one big question is why, if the dollar needs modernizing, should that be done by the private sector? READ MORE

Trump’s Crypto Empire: The Truth About USD1 & World Liberty Financial

World Liberty Financials’ USD1 isn’t just another stablecoin — it’s a digital dollar with direct ties to President Trump. But what could the President being involved with his sons to launch a new digital dollar mean for America? But could a digital dollar that draws inspiration from Trump continue to divide an already divided country? Coinage took this episode up with no motives to arrive at an answer for you. We just wanted to connect the dots so you can decide the answer to that question yourselves.

Now The End Begins is your front line defense against the rising tide of darkness in the last Days before the Rapture of the Church

HOW TO DONATE: Click here to view our WayGiver Funding page

“Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ;” Titus 2:13 (KJB)

“Thank you very much!” – Geoffrey, editor-in-chief, NTEB

Headline News

Prince Andrew Dramatically Arrested On 66th Birthday Over His Connections With Jeffrey Epstein And The Information In The Files Trump Says Are A ‘Hoax’

Published

2 days ago

February 19, 2026

Geoffrey Grider

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Andrew Mountbatten-Windsor, brother of King Charles and a former prince, has been arrested by Thames Valley Police on suspicion of misconduct in public office over allegations he sent confidential government documents to Jeffrey Epstein

The Epstein scandal was never just about one depraved financier. It was about a network, influence and access. The kind of hidden relationships that thrive in private jets, island estates, and closed-door meetings. When exposure begins creeping in from the edges, everyone who ever stood too close to the flame starts wondering if the heat is coming for them next. Today they came for former prince of England Andrew Mountbatten-Windsor. Who’s next?

“The fear of a king is as the roaring of a lion: whoso provoketh him to anger sinneth against his own soul.” Proverbs 20:2 (KJB)

We did a podcast cast a few weeks ago, talking about the heavy fallout from the Epstein Files around the world, and how in America, almost no one in the Trump administration seems to be especially worried about it. Donald Trump and Prince Andrew have been friends for many decades, but Trump decided to disavow that relationship as the heat from the Epstein Files got hotter. The friendship between Donald Trump and Prince Andrew, Duke of York, blossomed in the late 1990s and early 2000s, rooted in a shared social circle, mutual interests in golf, and, notably, their association with convicted sex offender Jeffrey Epstein. While they were once described as “good friends” who socialized in high-society circles, the relationship became a liability following the accusations against Prince Andrew regarding his ties to Epstein and sexual assault allegations. Following the 2019 arrest of Jeffrey Epstein and allegations against Prince Andrew by Virginia Giuffre, Trump appeared to distance himself from the prince. Despite photographic evidence to the contrary, Trump told reporters in December 2019, “I don’t know Prince Andrew, but it’s a tough story, I don’t know him, no.

Now that is a fairly stunning thing, to have a multi-decade relationship with someone, and then turn around and say that you don’t know him. Just go to Google and do a search on Donald Trump and Prince Andrew, and you will see a treasure trove of photos going back to the 1990’s. Don’t know him? That’s a crazy thing to say, but further evidence that Trump knows that, at some point, that wheel is going to turn in his direction.

Andrew Mountbatten-Windsor, brother of King Charles and a former prince, has been arrested by Thames Valley Police on suspicion of misconduct in public office over allegations he sent confidential government documents to Jeffrey Epstein, according to multiple U.K. media reports.