Recession gives true loves something to be happy about: PNC Christmas Index shows modest 1.8 percent increase
Thanks to the weak economy in 2009 the PNC Christmas Price Index increased by a modest 1.8 percent compared to last year in the whimsical economic analysis by PNC Wealth Management based on the prices of gifts in the holiday classic, “The Twelve Days of Christmas.”
According to the 26th annual survey, the price tag for the PNC CPI is $21,465.56 in 2009, just $385.46 more than last year. It is the smallest increase since 2002, when the index fell 7.6 percent.
The PNC CPI exceeds the U.S. government’s Consumer Price Index, the widely used measure of inflation calculated by the Bureau of Labor Statistics, which is down 1.3 percent this year.
Among the 12 gifts in the Index, three items fell measurably from last year while five increased in cost and four remained steady.
As part of its annual tradition, PNC Wealth Management also tabulates the “True Cost of Christmas,” which is the total cost of items gifted by a True Love who repeats all of the song’s verses. This holiday season, very generous True Loves will receive a bargain and pay $87,402.81 for all 364 gifts, a mere 0.9 percent increase compared to last year.
The sharp rise in gold prices proved to be the main contributor to the dramatic 42.9 percent jump to $499.95 for the Five Gold Rings. Typically when the value of the dollar decreases, as it has in the last year, investors buy more gold driving up prices.
The cost of the Seven Swans-a-Swimming, which generally provide the biggest swings from year to year in the PNC CPI, fell this year by 6.3 percent to $5,250 following last year’s eye-opening 33.3 percent rise. As the most volatile item in the Index, the swans are removed to determine the underlying inflation or core PNC CPI, which pushed the rate up 4.8 percent this year. . . Read more.
With the instability in the US market trialing into the world market, we need to caution ourselves. One wrong move from America, or any other county for that matter, cold lead to disaster and push our fanatical wows over the top. The world market would be devastated if there were another event like 9/11. So what do we do? It may be too late for a good solution, but the recent events have started a chain reaction that I just can’t ignore.
Glenn Beck, a CNN television and radio host had this to say about the current conditions in the market:
… It’s not just money that they’re throwing at this problem; it is also our freedom. America, we have — we have fundamentally changed. The America that you and I grew up in is gone. And maybe it’s gone forever, if we don’t wake up now. …
There is a global meltdown coming. It is a global depression. And one world currency, and one world financial system is the end game. China said last week they want one global currency. France said yesterday or the day before that they want one world order, a new world order at the end of this event. …
As I listened to this statement I realized something fundamental, the idea of one world order, or government, as well and one world currency seems enticing. Up front the idea would solve many problems and may lead to peace. The fundamental problem with this is that there would than be one world leader.
Step back and think about this for a moment, especially if you really thought this is a good idea. I have heard this story before for the Bible. According to the Bible, there will be one world government controlled by the Antichrist. In Revelations 17 many Bible scalars believe this is referring to one world government and religion. Since we are on the topic of religion, where would one world religion come from? Currently the most powerful religion is lead be the Roman Catholic church. Many world leaders profess there faith to this church, as well as to the leader of the church, the Pope. Now I am not saying that the Pope is the Antichrist, but thing about it for a moment. Let’s speculate for a minute, and say that there was a one world order that came from the current economic conditions, the leader of this government could likely be the beast as stated in Revelations 19. The Pops, who has already claimed to be the living embodiment of God, would most likely be a player in this government, much as is in most of the European countries. This would lead to any entry point for the beast to win over billions of people.
Another element of Revelations that I see coming to light is the mark of the beast. We now have our one world order, currency and religion; you need an easy way to keep track of people. The technology has already been tested and is currently in use, RFID. These small microchips can be placed underneath the skin, perhaps in the forearm or forehead… making it impossible to do anything without being tracked. The RFID could contain all our personal information, including baking information, leading to smart money. Bingo, you now can’t buy anything without the chip which is controlled by non other than the beast! What happens now?
The Bible has a lot to say about the end times. Nearly every book of the Bible contains prophecy regarding the end times. Taking all of these prophecies and organizing them can be difficult. Here is a very brief summary of what the Bible declares will happen in the end times:
Christ will remove all born-again believers who are part of the Church (New Testament saints) from the earth by an event known as the Rapture (1 Thessalonians 4:13-18; 1 Corinthians 15:51ff). These believers will be rewarded for good works and service during their time on earth at the Judgment Seat of Christ or will lose rewards, but not eternal life, for lack of service and obedience (1 Corinthians 3:11-15; 2 Corinthians 5:10).
The antichrist (beast) will come into power and sign a peace pact (covenant) with Israel for seven years (Daniel 9:27). This seven year period of time is known as the Tribulation. During the Tribulation, there will be terrible wars, famines, plagues, and natural disasters. God will be pouring out His wrath against sin, evil, and wickedness. The Tribulation will contain the four horsemen of the apocalypse, and the seven seal, trumpet, and bowl judgments.
About halfway through the 7 years, the antichrist will break the peace covenant with Israel and make war against them. The antichrist will perform the abomination of desolation and set up an image of himself to be worshipped in the temple (Daniel 9:27; 2 Thessalonians 2:3-10). The second half of the Tribulation is known as the Great Tribulation and the time of Jacob’s trouble.
At the end of the seven year Tribulation, the antichrist will launch a final attack on Jerusalem, culminating in the Battle of Armageddon. Jesus Christ will return, destroy the antichrist and his armies and cast them into the lake of fire (Revelation 19:11-21). Christ will then bind Satan in the Abyss for 1000 years and will rule His earthly kingdom for this 1000 years (Revelation 20:1-6).
At the end of the 1000 years, Satan is will be released, defeated again, and then cast into the lake of fire (Revelation 20:7-10). Christ then judges all unbelievers (Revelation 20:10-15) at the Great White Throne Judgment, casting them all into the lake of fire. Christ will then usher in a New Heaven and New Earth and the New Jerusalem – the eternal dwelling place of believers. There will be no more sin, sorrow, or death (Revelation chapters 21-22).
Take heart, I did not write this to scar you, if you are a believer you have nothing to fear. Much of what I have said is speculation based on biblical facts. It may or may not happen like this, and it may not happen even in our lifetimes. If you are not a believer it is not too late, but you must hurry, time is running out. One thing is for sure, things have been set in motion that may change our world forever, and may lead to the grate day that we have all been promised.
Are we heading down the road towards another Great Depression? There are many signs that would make it seem so… The dollar is losing its worth while the price of gas goes through the roof. I now believe that we will see gas prices at or near $5.10 by the end of the summer. Even more disturbing is the fragile state of the Middle East. Something is going to give, and it isn’t going to be pretty. Tom Merritt, a Cnet editor, has made a insetting observation, and I think he may be onto something.
…you can see some historic cycles by looking at things that chracterise certain decades.
Update: The more i look at the market the more I think this may be true. The past few weeks have seen hard days in the stock market, many of them closed at grater than 600 point losses. As it stands, the markets are now no better than they were more than five years ago, and this after the all time high about a year ago. Things don’t look good, time to “batten down the hatches”!
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