Robert King comments on the meaning of Habakkuk 1:6: “For here I am raising up the Chal·deʹans, The ruthless and impetuous nation. They sweep through vast stretches of the earth To seize homes not theirs.”
Quote: “Empires have always prospered by means of plundering nations and peoples. According to Habakkuk the last empire is destined to pillage and enslave the whole world! Or as the sixth verse states: “They sweep through vast stretches of the earth to seize homes not theirs.” That is no small feat. How might such a calamity come about? In modern times, communistic governments have simply revoked the rights of their citizens and confiscated all private property. However, capitalism has the same capacity to dispossess— albeit in less overt ways. This may be accomplished through promoting excessive indebtedness, because as the Bible observes, the borrower becomes a slave of the lender. Governments may also enslave and impoverish their subjects through graduated heavier taxation, sudden currency devaluation, or hyper- inflating the amount of currency in circulation, thus rendering it worthless.
In view of the world’s precarious economic and financial condition presently; as individuals, corporations, and nations sink deeper and deeper into a quagmire of unpayable debt, there is now the looming specter of a debt default or hyperinflation triggering a sudden, catastrophic, meltdown-scenario with the potential to simply disintegrate the entire debt-burdened economic structure. Because of the interconnectedness of the global financial system, the collapse of a single large institution or nation may set off the dreaded chain-reaction, the so-called domino scenario, which could bring down the entire house of cards.
Without a doubt, the computer-wired age means that the entire world may be virtually foreclosed on in the event of a systemic crash. As has been demonstrated, stock markets can crash with breathtaking suddenness. Currencies may be devalued. Giant corporations that employ tens of thousands of people may go bankrupt. Banks that seem rock solid prove to be an illusion. Money itself is destined by the prophets to become as so much paper confetti to be thrown into the streets. How quickly might civilization change if common everyday financial transactions became impossible?”
When I think of the term Robert King uses, “domino scenario” and chain-reaction, I recall during 2008 they described the stock market crash as a “cascading crash”. In any of those descriptions it is clear that once it starts there will be no turning back.