The USA and Europe are reporting more inflation:

Fed’s Favorite Inflation Indicator Jumps To New 40-Year High, Savings Rate Plunges
July 29, 2022
The Fed’s favorite inflation indicator – PCE Deflator – was expected to accelerate in June and both the headline and core increased significantly (+6.8% YoY and +4.8% YoY respectively) – both higher than expected. The headline print is the highest since 1982.

With both the headline and core inflation signals re-accelerating, it appears the ‘peak inflation’ narrative has busted once again.
The ‘inflation’ indicator has supported nominal personal spending (even as incomes fail to keep pace – with soaring revolving credit signaling Americans relying on credit cards to get by). …
On the income side, both private and government wages saw growth slow in June … the fact that Americans are borrowing more and saving less is not an indication of confidence – it’s an indication of deep-seated stress – which helps explain the record low in consumer confidence. https://www.zerohedge.com/markets/feds-favorite-inflation-indicator-jumps-new-40-year-high-savings-rate-plunges
Euro-Zone Inflation Hits Record, Backing Calls for Larger Hikes
Consumer prices jumped 8.9% in July; economists estimated 8.7%
Latest all-time high coincides with growing recession fears
July 29, 2022
Euro-zone inflation climbed to another all-time high, supporting calls for the European Central Bank to follow up its first interest-rate hike since 2011 with another big move.
Consumer prices jumped 8.9% from a year earlier in July — up from 8.6% last month and driven once again by soaring energy and food costs. The number overshot the expectations of economists surveyed by Bloomberg, who saw a gain of 8.7%. https://www.bloomberg.com/news/articles/2022-07-29/euro-zone-inflation-hits-record-backing-calls-for-larger-hikes#xj4y7vzkg

Inflation and economic concerns are feared by many to possibly lead to civil unrest (see ‘2023 … Martin Armstrong Warns Of Inflation-Driven Civil-Unrest … Europe’ ‘Half of Americans anticipate a U.S. civil war soon’).

Here is something that the old Worldwide Church of God published:

But what does inflation mean for the future? What should Church members know — and do — about this economic ill?
Few of us realize the kind of disruption, the social breakdown, the Sodom and Gomorrah-like conditions that can happen during periods of hyperinflation.
Many of you have heard or read about what happened to Germany in 1923. In order to meet reparations payments for World War I, the government literally cranked up its printing presses and flooded the country with worthless paper money.
It was perhaps the greatest inflation of all time and a harbinger of what may be in store just before the beginning of the Great Tribulation.
In Germany delirium reigned. Workers got paid every day at noon, and would then run to the nearest store with literally sackfuls of money in order to buy anything, at any price. Otto Friedrich, in his book Before the Deluge, described the chaos of the time:
“In their frenzy, people paid millions and even billions of marks for cuckoo clocks, shoes. that didn’t fit, anything that could be traded for something else.
“The celebrated conductor, Bruno Walter, had to break up his rehearsals in mid-symphony for the regular midday rush, and after a typical scramble, he recalled, one of his musicians triumphantly displayed his reward for a day’s work — a bag of salt. ”
And there were worse incidents. “The old were equally helpless. One elderly writer named Maximilian Bern withdrew all his savings, more than 100,000 marks, and spent them on one subway ticket. He took a ride around Berlin and then locked himself in his apartment and starved to death. “
Prophesied for our day
The Bible foretells that inflation at least in the sense of oppressively rising prices — will be a plague of the end times. Notice Haggai 1:6, “and he that earneth wages earneth wages to put into a bag with holes.” Every person who has seen the buying power of his money be continually eroded because of rising prices can well understand that that prophecy has already come to pass.
The book of Revelation also foretells inflation: “A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine” (Rev. 6:6).
A measure of wheat for a penny sounds like a bargain these days. But consider, a measure of wheat at the time John penned the book of Revelation was two-or three pints. A penny was the day’s wages of a laborer. In North America today, a factory worker’s pay is conservatively around $40 a day. So consider: three pints of wheat for $40!
That is inflation. Moreover, as we would expect from the time sequence, the prophecy bears a striking resemblance to our own pre-tribulation times: While food is scarce, it still has a market price. …
When money fails
Biblical descriptions of money and prices bring out several important lessons about high prices:
Scarcity can make your money worthless. In Joseph’s time, when “famine [crop shortage] was over all the face of the earth” (Gen. 41:56), the fact was reflected in the price of food. Thus, when Jacob sent his sons to buy food in Egypt, he told them to take “double money” (Gen. 43:12).
Another example of scarcity-induced price increases was the siege in Samaria in the time of Elisha: “And there was a great famine in Samaria: and, behold, they [the Syrians] besieged it, until an ass’s head was sold for fourscore pieces of silver, and the fourth part of a cab of dove’s dung for five pieces of silver” (II Kings 6:25). …
Inflation: a result of sin
Inflation is the bad result of human government’s failure to restrain its own covetousness and ambition. There are two ways in which this happens.
Sometimes, in order to stimulate the economy, the government will (through a complicated series of banking transactions) cause more money to come into circulation. Credit becomes easier. Businesses expand and hire more people. Wages go up and people buy more.
But while there’s more money floating around, there aren’t as many things to buy with that money. Sellers find they have to (and they want to anyway, of course) raise their prices just to make sure they don’t run out of products.
And, almost always at the same time, the government itself spends more money than it takes in. Its workers get pay raises, more people are put on the government payroll, more programs are started. Tax revenues don’t cover it all.
The government has to either a) raise taxes, b) cut back or c) in effect, print the money to cover its deficit.
Human nature being what it is, c is the most painless alternative in the short run, and so the government chooses it. The extra money circulates through the country, but again, there aren’t as many extra things to buy with that money. So prices go up.
Viewed this way, inflation is a kind of hidden tax that the government imposes on its citizens. …
What can we do?
Knowing that inflation favors those who possess the tangible necessities of life, and also knowing that famine is prophesied, your first thought may be to begin to store large quantities of food. However, Herbert W. Armstrong has warned of the dangers of such a practice. In The Good News, June-July, 1966, Mr. Armstrong points out that Church members would make themselves vulnerable to attack in times of famine if word got out that they were storing food.
On the other hand, without getting fanatical or anxious about material things (see Matt. 6:31) there are some things we can do to stave off the ravages of inflation. The principle is, “A prudent man forseeth the evil, and hideth himself: but the simple pass on, and are punished” (Prov. 22:3).
1. Despite what you may have heard, gold and silver may not be all that good as inflation hedges. In times of economic turmoil, governments often confiscate their citizens’ gold.
Also, while it is not the province of the GN to give specific investment advice, gold and silver are two investments that are mentioned in Bible prophecy. The forecast, however, is not bullish:
“They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord: they shall not satisfy their souls, neither fill their bowels: because it is a stumbling-block of their iniquity” (Ezek. 7:19).
You cannot eat gold. You must buy it retail and sell it back wholesale. You may have to pay assay charges. You can’t buy in quantities of less than an ounce, and so, in times of social breakdown, how would you pay for a loaf of bread? By clipping off a piece of your Krugerrand?
Of course, since gold is regarded as a disaster hedge by many investors, prudence might dictate that perhaps a small fraction of your liquid assets be in gold: and for almost all of us, that wouldn’t be enough to buy much more than one gold coin at today’s prices.
2. Other investments: Use your spare cash as a down payment to buy your own home, acquire marketable skills and keep your house and car insurance up to date. These ideas follow from the great principle laid down by Solomon in the Bible:
“Be thou diligent to know the state of thy flocks, and look well to thy herds” (Prov. 27:23).
3. Cut expenses: Substitute your own labor for expensive purchased labor whenever possible by doing your own repair work. This depends on how you value your own time and whether you like to do your own repair work. (A lawyer who types faster than his secretary should still allow his secretary to do his typing because any given hour of his time is far more profitably spent using his legal abilities than typing.)
Substitute vegetables for some of your meat. (Many Americans eat too much meat.)
Prepare your food and eat at home if you have the time. If you don’t (time is money) some ethnic restaurants are cheaper than steakhouses. Remember, “He that loveth pleasure shall be a poor’ man: he that loveth wine and oil shall not be rich” (Prov. 21:17).(Calkin J. When Money Fails. Good News, October-November 1979)

And still is sound advice today.

That being said, notice something from former US President Donald Trump;

Trump Warns Something Worse Than Recession Is Coming
July 29, 2022
Former President Donald Trump has warned that America’s economy is on track for a bigger disaster than a recession, with his remarks coming shortly before government statistics showed GDP printing negative for the second consecutive quarter, which is a rule-of-thumb definition for a recession.
“Where we’re going now could be a very bad place,” Trump said at a rally in Arizona last week. “We got to get this act in order, we have to get this country going, or we’re going to have a serious problem.”
The former president singled out the collapse in Americans’ real wages, a historically depressed labor force participation rate, and the Democrat push for the Green New Deal that he said would crush economic growth.
“Not recession. Recession’s a nice word. We’re going to have a much bigger problem than recession. We’ll have a depression,” the former president said.

Actually, as far as the USA goes, something worse than a depression will hit it as one day is dollar will be worth no more than its scrap, collectible, or sentimental value.

The Bible warns that a highly indebted nation will be taken over in the time of the end in Habakkuk 2:1-8, and the USA is the most indebted nation in the history of humanity.

That being said,

Jesus warned:

7 But when you hear of wars and rumors of wars, do not be troubled; for such things must happen, but the end is not yet. 8 For nation will rise against nation, and kingdom against kingdom. And there will be earthquakes in various places, and there will be famines and troubles. These are the beginnings of sorrows. (Mark 13:7-8)

It is not just famines that are prophesied, food price inflation is as well.

Notice that the ride of third horseman of the Apocalypse results in scarcity, inflation, and famine. Revelation 6:5-6 indicates that there will be food, but that it will be quite expensive (food-price inflation).

5 When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. 6 And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” (Revelation 6:5-6)

Some will thus die as they will not be able to afford it, while others will survive but struggle.

Also, notice that wheat, barley, and edible oil is listed as shortages associated with the ride of the third horseman. Ukraine is a significant exporter of all of those–or at least is was.

Related to some of this, the Continuing Church of God put together the following video on our Bible News Prophecy YouTube channel:

Russia, Ukraine, Food, & the Ride of the 3rd Horseman of the Apocalypse
Did you know that the sanctioned lands of Russia and Belarus are dominant suppliers of ingredients used in modern fertilizers? Are you aware that the United Nations Food and Agriculture Organization (FAO) estimates that 33% of the farmland in Ukraine may not be planted and/or harvested because of Russia’s ‘special military operation’ in Ukraine? Are parts of the world like Sudan, Lebanon, and the USA experiencing food price inflation? What about impact on the Palestinians in Gaza? Could any of this help lead to the rise of the King of the South? What are some factors that look to increase rice prices? Did Jesus warn of wars and troubles? What are three foods that Ukraine exports that are associated with the shortages and food price inflation of the ride of the third horseman of the Apocalypse? What does Jesus say His followers should do? Dr. Thiel addresses these matters in this video.

Here is a link to the video: Russia, Ukraine, Food, & the Ride of the 3rd Horseman of the Apocalypse.

The old Worldwide Church of God published the following pointing to Caucasians being impacted:

The black horseman’s future ride will reduce the proud faces of white America, Europe, and the British Common wealth into the blackened skin of starvation such as now afflicts the vast majority of mankind. (Alexander G. The Four Horsemen of the Apocalypse. Ambassador College Press, Pasadena (CA), 1973, p. 31)
Notice some of the penalties for disobedience recorded in the 26th chapter of Leviticus: “If after all this you have not learnt discipline but still defy me, I in turn will defy you and scourge you seven times over for your sins. I will bring war in vengeance upon you … you shall be herded into your cities, I will send pestilence among you, and you shall be given over to the enemy. I will cut short your daily bread until ten women can bake your bread in a single oven; they shall dole it out by weight [see Revelation 6:5-6], and though you eat, you shall not be satisfied. If in spite of this you do not listen to me and still defy me, I will defy you in anger, and I myself will punish you seven times over for your sins. Instead of meat you shall eat your sons and daughters” (Lev. 26:23-28, The New English Bible). Other passages warn of famine-producing upsets in weather (Amos 4:7, Deut. 28:24); ruined harvests (Ezek. 5:16, Deut. 28:17); blighted crops (Amos 4:9); harmful insect pests (Deut. 28:39, 42); and nonproductive soil (Deut. 28:23). (4 Horsemen of the Apocalypse – The Black Horse – Famine. WCG booklet, 1976)

We are starting to see more reports of food shortages and the potential for more food price inflation.

As far as the USA itself goes, notice something from my book Biden-Harris: Prophecies and Destruction:

Make no mistake about it — massive inflation is coming.
The U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19). …
Inflation will eventually hit the U.S.A. extremely hard.

Inflation did hit the U.S.A.

Europe and much of the world has also been affected by inflation.

And more food price inflation is prophesied.

Though the rate will likely dip for a time, do not be deceived, expect more food inflation. And yes, there will be famines as well.

What should God’s people do?

The old Worldwide Church of God taught:

The most important inflation hedge …
Be righteous. God has the supernatural power to insure that His people do not suffer privation. God always has the power to hedge you from the ravages of inflation (see Job 1:10).
King David made this principle plain: “The Lord knoweth the days of the upright: and their inheritance shall be forever. They shall not be ashamed in the evil time: and in the days of famine they shall be satisfied … I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread” (Ps. 37:18-19, 25).
So, even though we do have a responsibility to provide for our children and our grandchildren through all the know-how and skills we can muster, in the end it is God in whom we must place all our trust, never wavering. That is the most sound investment anyone can make. (Prov. 21:17).(Calkin J. When Money Fails. Good News, October-November 1979)

And Jesus taught:

25 “Therefore I say to you, do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? 26 Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? 27 Which of you by worrying can add one cubit to his stature?
28 “So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; 29 and yet I say to you that even Solomon in all his glory was not arrayed like one of these. 30 Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith?
31 “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. 33 But seek first the kingdom of God and His righteousness, and all these things shall be added to you. 34 Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble. (Matthew 6:25-34)

Keep your priorities in order. Trust God and seek first His kingdom.

UPDATE 07/31/22: We just uploaded the following related video:

Inflation: When Money Fails
Inflation has been higher in 2022 than it has been for decades in the USA, Europe, and many other lands. What are some of the disruptions that inflation can cause? What about hyperinflation affecting places like Venezuela? Did the Book of Haggai predict inflation? Is food price inflation associated with the ride of the third horseman of the Apocalypse? Does sin and government mismanagement cause inflation? Are there physical things one can do about inflation? What about storing food or buying gold? Will gold outlast the USA dollar? Why might some throw their gold in the street as Ezekiel prophesied? What should God’s people do about inflation? What did Jesus teach about food worries? What about seeking the Kingdom of God? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: Inflation: When Money Fails.

Full article with related written items/videos: More inflation and Donald Trump warns about the USA economy

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