We continue with our examination of the relationship of financial booms and busts and the advancement of technologies that will allow Satan to wield power over humanity. Again, reviewing history, we know that booms and busts go through several stages. First, a catalyst is needed … something that is newly discovered or developed that holds great promise. It may be a newly invented technology (for example, the railroad, or the automobile). Or it may be the discovery of a major gold deposit (or some other mineral). Whatever the case, a general pattern may be observed relating to the booms and busts.

We must understand the role of money and greed. Whenever money is on the move, huge forces are unleashed. Profits attract investors. This, in turn, boosts the share prices of the companies that are involved, making even more capital available to them. This helps to accelerate development of the new technologies that may be involved. Investors clamor to chase up the share values. The more that share prices rise, the more willing investors queue up to buy even more shares.

At this point, a mania usually takes hold. Share values rise for no other reason than that share prices are soaring and are expected to do so far into the future. All connection with reality is lost. Finally, the bubble bursts … this always being the case. Share prices of the bubble stocks then collapse. Losses of 90% and more are typical. Certainly, Satan takes advantage of human beings who are spurred by greed and madness.

In the boom phase, the financial wealth that appears to have been created is seemingly beyond measure. Stock bubbles give rise to many new billionaires …some even super-wealthy plutocrats. Not unusually, many of these newly rich titans, having accumulated tens and hundreds of billions in financial wealth, become evangelists for various humanist causes … some outright vainglorious.

Mammon Dangling Incentives to Boom and Bust

Why is there such a huge financial award for mankind’s new technology booms? Why does new technology get such a big boost from Mammon … only to be followed by busts and enormous investment losses? Few understand the significance of the boom/bust cycle … the rapid rise and bursts of investment bubbles.

It is as designed. Mammon has a pull on humanity like no other force. Like no other, Satan understands the behaviors and capricious whims of mankind. He knows how to lure mankind to do his will.

After all, he is given such lofty titles as “the ruler of this world” (John 12:31), “father of lies” (John 8:44), “god of this world” (2 Corinthians 4:4), “ruler of the power of the air” (Ephesians 2:2), and Beelzebul, “ruler of the demons” (Matthew 10:25; Mark 3:22; Luke 11:15).

Significance of Endtime Busts

Of what significance are economic booms and busts? Crucially, do they factor into an endtime agenda? The answer to the latter question is undoubtedly yes, it is of great importance. Especially so, given that the current bubble is, in fact, so big that it is literally engulfing the entire world and, along the way, is rearranging global wealth and economic power distribution. These developments promote the control (capture) of the entire world. Understanding that, indeed, there is an agenda to control the entire world through one dictator, we then understand its endtime significance.

This latest extension of the technology bubble is different from previous manias. For one, as mentioned, it is of global span as never before. The entire world has been inveigled to its attractions. Secondly, the technology bubbles of the last 25 years have all centered on information management. These applications have served to network and centralize the world.

Regarding the “Handi” … or as we in North America call it, the smartphone … we have witnessed the fastest global adoption of a new technology than ever before in history. In a timespan of only 11 years, over one-half of the world’s population has purchased one. It is estimated that global penetration of the smartphone was 69% at 2023 year-end. In the US, by comparison, the penetration rate was 82%.

This is a key objective and game point for Satan. He is not omnipresent as is the Holy Spirit or God. His promotion of global networking partially addresses his handicap in this regard. Most critical is the individual connection … the social media component. Critically, more than half of mankind already has a smartphone of some type. These users are all directly and personally hooked into the worldwide web (www).

According to experts, the number of smartphones in the world is expected to exceed 8 billion by 2029. (For purposes of comparison, the world population at the end of 2023 was 8.2 billion.)

Choice of Good and Bad

The world makes its choices. Mankind can use its technologies for good or bad. However, technology uniquely is a double-edged sword. The conveniences it offers all come with a price … usually a vulnerability of some kind. It may be a dependence, a loss of independence and self-reliance, or a rising vulnerability to widening controls and tracking.

Technology (and knowledge of true science, for that matter) always moves forward. Its advances do not reverse. Yes, it is possible that some new inventions may be sequestered because of their existential dangers … as has been attempted with weapons-grade nuclear applications. However, once mankind has the knowledge, it is not likely to reverse. We have to live with it.

For the Christian, the progression of science and technology presents additional challenges. While on the one hand, enjoying the conveniences that technology offers, we must be alert to the increasing vulnerabilities and unholiness. It may also introduce temptations. And we must not lose an attitude of reliance upon God.

In the case of the advance of the world-capturing smartphone and other technologies, we see that humanity chooses to become increasingly smug and proud. Worldliness and ungodliness find ever bigger and more effective pulpits and distribution channels. The “self” becomes more venerated … and destructive. Who can stand firm in times such as we witness today?

Says the Psalmist: “Some trust in chariots and some in horses, but we trust in the name of the LORD our God. They are brought to their knees and fall, but we rise up and stand firm” (Psalm 20:7-8).

The New Testament, several times, encourages one to stand firm. Paul advises believers, “Be on your guard; stand firm in the faith; be courageous; be strong. Do everything in love” (1 Corinthians 16:13-14). The flock is also encouraged that God helps in this task, for: “[…] it is God who makes both us and you stand firm in Christ. He anointed us, set his seal of ownership on us, and put his Spirit in our hearts as a deposit, guaranteeing what is to come” (2 Corinthians 1:21-22). “[…] Stand firm, because the Lord’s coming is near” (James 5:8).

Thoughts to Ponder

At this point in the human timeline on planet Earth, an epic phenomenon is unfolding as never before.

As quoted in Part 1 of this short series, Timothy tells us: “But mark this: There will be terrible times in the last days. People will be lovers of themselves […] of pleasure rather than lovers of God” (2 Timothy 3:1, 4).

According to Paul, the world will be typified by people who are centered upon themselves … pursuing their individual wants. They love themselves uppermost. They, therefore, will have fallen into a trap. Only God can love us fully and perfectly. People who are lured to the notion that they can love themselves better than God face unhappiness. No doubt, this trend is linked to the rapid rise of depression—what the World Health Organization has observed to be an epidemic. Sadly, it is seen as a disease, not at all as a spiritual malady.

At the same time that selfishness and narcissism become rampant, the world becomes more bewildering and filled with anxiety. “Be careful, or your hearts will be weighed down with carousing, drunkenness and the anxieties of life, and that day will close on you suddenly like a trap. For it will come on all those who live on the face of the whole earth” (Luke 21:34-35).

Therefore, any technology that serves to enable the “love of self” … that spreads information leading to the magnification of the “anxieties of life” … and centralizes influence and personal monitoring is therefore likely to play a prophecy-enabling role.

As it is, we are at the end of technology. This writer made the case that we had indeed reached the end of technology in 2013. That was triggered with the introduction of the Smartphone. What we meant was that nothing more needed to be invented to enable the onset of the Tribulation period. All the facilitating technology already exists in our view. Booms and busts may indeed keep occurring, serving to inflame other greed-induced booms. But this would not invalidate the conclusion that no yet-to-be-invented technological invention stands in the way of the onset of the Tribulation period.

Says Jesus Christ: “Here I am! I stand at the door and knock. If anyone hears my voice and opens the door, I will come in and eat with that person, and they with me” (Revelation 3:20).

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.

No doubt, readers will have heard about the boom in Mag 7. What is this … and what does it mean? In our view, Mag 7 signifies an epoch-changing development of endtime dimensions. However, before we plunge into any further explanations, we must first understand the context. It is all part and parcel of a “last day” rush to digitize and network the entire planet. Why? Satan and his cohorts (some of these very wealthy elites… see Danial 11:39) have an urgent mandate and recognize that their time is short.

In that sense, the current Mag 7 phenomenon is a continuation of a previous technology boom/bust that occurred in the late 1990s, otherwise known as the Dot Com Mania. Technology bubbles of the last three decades or so have been centered upon digital information management. The latest bubble extension (or bezzle, as these often turn out to be) has been boosted by a mania in AI (artificial intelligence).

We have discussed these boom/bust technology developments and their implications for mankind for well over 25 years. Consider that the commercial internet was only invented 31 years ago. The mobile phone (specifically, the smartphone, which we will discuss further) was launched only 17 years ago.

The latest technology bezzle phase that is occurring now is the largest ever. Moreover, it is of unprecedented global scope.

To illustrate, we return to the topic of Mag 7 to explain its significance further. Mag 7 is short for “Magnificent 7.” These are 7 major profitable and “magnificent” companies. They are the poster child for the present global boom in information technology and communications sectors and Electric Vehicles (EVs). Their businesses and share prices have prospered so much that these 7 companies today alone represent over 23% of the entire world stock market value (MSCI World).

Such wealth concentration would seem unimaginable. Nevertheless, matters are even more extreme than meets the eye. The two industry sectors of Communications Services and IT (information technology services) alone account for over 32% of the world MSCI stock index value (approximately one-third!).

These sectors include companies that are active in providing computer services, chips circuits, smartphones, iCloud and data storage, software, search engines, social media networks, communications networks, and lately, in a major way, artificial intelligence. The common thread to all of them is digital technology, data centralization, and networking.

The Magnificent 7 are as follows (in no particular order): 1. Apple; 2. Nvidia; 3. Tesla; 4. Meta Platforms (formerly Facebook); 5. Amazon; 6. Microsoft; 7. Alphabet (formerly Google).

Next, consider the scale of the investment cornucopia. Apple shares have generated a 912% total return in the past decade. Amazon shares are up 927% in the same time frame. Meta Platform shares are up 570% in 10 years. Microsoft has generated a 940% total return for investors over the past decade. Alphabet has generated a 426% return in the past 10 years. Tesla shares are up 1,144% in the past decade. Most of all, Nvidia shares have gained some 22,235% since inception! Whose soul will not have been tested by such wealth? Given the immensity of this lucre, one can be sure that Satan and those that honor him will have made effective use of the power of money.

One can see that it is money … namely, huge profit … that is integral to all these technology shifts. This again has led to a greater global investment mania, luring the savings of the near entirety of the world. We will yet discuss the impact of the familiar “boom bust” cycle that is involved.

We ask, why such an extreme financial wealth concentration … and why with such explosive rapidity? First, technology booms and busts are all fomented by human fear and greed—Mammon. In this sense, the present information-centered boom can be seen as similar to other technology-inspired booms of the distant past, including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in the 1940s, transistor electronics in the 1950s, computer time-sharing in the 1960s, and home computers in the 1980s.

Arrogant Bezzle Era

With the technology boom and hutzpah, things have become quite “crazy” on Earth. Consider some of the arrogant foolery that we see today. Climatologists are promoting the notion that the earth’s temperature can be controlled as if connected to a wall-mounted Honeywell rheostat (this ignoring the fact that it all hinges on a complicated solar system). Elon Musk (the famous founder of many technologies) continues to plan an interplanetary escape to Mars, as there apparently is no such thing as a Martian NIMBY (Not in My Back Yard) lobbyist. The leading AI movers and shakers claim that existential risk from artificial intelligence may lead to human extinction from the universe (this being this writer’s first tip that AI was contributing to another bezzle). And last, the recent convening of the Berggruen Institute in Venice, which discussed a new planetarity grounded in an awareness that human beings are no longer at the center of it all. As such, the Interplanetarity is putting the Anthropocene in its place. We dare say that God would agree.

As such, we note that there are two major financial bezzles underway: “fighting climate change” and AI/Search. To say the least, dealing with just one is demanding … let alone two. Of course, there may be many smaller ones, as always. It is the big bezzles, however, that can lead to economic recessions and financial crashes. Usually, one bezzle narrative has been enough to do so. Trillions of dollars may have already been duped into being spent.

Why the Smartphone Is Important: The Self and Technology

Timothy tells us: “But mark this: There will be terrible times in the last days. People will be lovers of themselves … of pleasure rather than lovers of God” (2 Timothy 3:1, 4).

According to Paul, the world will be typified by people who are centered upon themselves … pursuing their individual wants. They love themselves uppermost. They, therefore, will have fallen into a trap. Only God can love us fully and perfectly. People who are lured to the notion that they can love themselves better than God face unhappiness. No doubt, this trend is linked to the rapid rise of depression—what the World Health Organization has observed to be an epidemic. Sadly, it is seen as a disease, not at all as a spiritual malady.

At the same time that selfishness and narcissism become rampant, the world becomes more bewildering and anxiety-filled. “Be careful, or your hearts will be weighed down with carousing, drunkenness and the anxieties of life, and that day will close on you suddenly like a trap. For it will come on all those who live on the face of the whole earth” (Luke 21:34-35).

So, any technology that serves to enable the “love of self” … that spreads information leading to the magnification of the “anxieties of life” … and centralizes influence and personal monitoring is therefore likely to play a prophecy-enabling role.

Why Humans Are Vulnerable to Booms and Busts

Financial markets famously rotate through booms to busts. Manias and bubbles capture the human attention … only to later succumb to crashes and crises. These trends tend to always be supported by a major narrative that is infectiously believable.

Why are humans so vulnerable when it comes to economic booms and busts? By definition, human actions embrace behavioral factors (i.e., human neural wiring, wants, preferences and needs … etc.) Above all, the humanoid is vulnerable to changing his mind … and does so frequently.

Homo sapiens are anticipatory, unpredictable, and capricious. In general, they will gladly participate in a dupe of doubtable fundamentals so long as the stock price charts keep ascending to the upper right. As we see today, this usually leads to radical technological changes very suddenly. This makes rich soil for bubbles, manias, and busts.

The size or scope of a bezzle or bubble may not be limited by anything … just unlimited imagination. Quoting John Kenneth Galbraith (a famous Canadian-American economist and diplomat), on another time of financial delusion in the 1930s, “[the] world was inhabited, not by people who had to be convinced, but by people who sought excuses for believing.”

Similarly, today, there is no lack of misguided and willing believers with respect to starry-eyed expectations of artificial intelligence and the “consensus” views of climatologists.

Fizzle Follows Bezzle

What happens after the boom and the bezzle, as history shows us? They all eventually fizzle out, as they must. Markets then crash spectacularly. While the catalyst to the boom may have been real—at least in part—once hordes of greedy and uninformed investors descend upon the mania, the fate is sealed. Wild-eyed expectations of future profits can no longer be supported.

In the final Part 2, we will conclude with the question: Are any more new technologies required before the onset of the Tribulation period?

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.