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1) … Jesus Christ acting in dispensation, that is the administration of all things economic and political, a concept presented by the Apostle Paul in Ephesians 1:10, affected an epic reversal in fiat wealth on Thursday January 2, 2013.
He fully PIVOTED the world from the paradigm and age of liberalism, into that of authoritarianism, on the beginning of the death of fiat money, as investors derisked out of stocks and deleveraged out of credit and currencies, on fears that the world central banks monetary policies of investment choice and credit stimulus, have crossed the rubicon of sound monetary policy, and have made “money good” investments bad.
Doug Noland posts The year 2013 saw record stock prices, rising home prices, record Household Net Worth, lower unemployment and an improved economic backdrop – all in the face of slower system Credit growth. How much of this was the consequence of the Fed’s $1.0 TN injection of new “money” directly into the financial markets? I’m convinced it would be a much different world without QE3. Moreover, the Fed’s extra Trillion had unappreciated deleterious effects, notably by spurring “terminal phase” excess in securities markets
The terminal phase in the securities market reached its zenith on January 2, 2013, and has entered the collapse phase, as Liberalism’s five year enduring bull stock market, turned to a bear stock stock market, as Nation Investment, EFA, -1.8%, led World Stocks, VT, -1.5%, and Global Financials, IXG, -0.9%, lower. Now with this turn lower in fiat wealth, the world has PIVOTED fully from the paradigm and age of liberalism into that of authoritarianism.
Evidence of the epic change in fiat wealth investing, is seen in Industrials, XLI, trading 1.4%, lower, and Transports, XTN, trading 0.7% lower, establishing Dow Theory evidence that indeed a bear market has commenced; this seen in Railroads, UNP, KSU, CNI, CSX, NSC, CP, traded 1.5% lower, and Trucking, SWFT, ODFL ,SAIA, PTSI, CNW, ABFS ,UHAL, R, traded 1.7% lower.
Greed has turned to fear. Investors derisked out of equities, and deleveraged out of credit and currencies, as is seen in the Market Off ETN, OFF, and Volatility, XVZ, TVIX, VIXY, VIXM, trading higher, reflecting investors fear that the monetary policies of the world central banks’ monetary policies of investment choice and credit stimulus have crossed the rubicon of sound monetary policy, and have made “money good” investments bad, and no longer support global growth and trade.
Liberalism’s dynamos of creditism, corporatism, and globalism, no longer support inflationism, as the bond vigilantes in calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48%, on October 23, have not only begun to destroy fiat money, that is Aggregate Credit, and Major World Currencies, DBV, and Emerging Market Currencies, CEW, and are now finally beginning to destroy fiat wealth, World Stocks, VT, as well. The Means of Economic Destructionism, that is the Benchmark Interest Rate, ^TNX, rising to 2.99%, has fully PIVOTED the world out of the paradigm and age of liberalism, into that of authoritarianism.
Global economic deflation and economic recession, characterized by falling GDP, and a whole host of other economic metrics, such as credit contractions, are the tail risk of monetary stimulus and credit easing.
Authoritarianism’s singular dynamo of regionalism in establishing regional security, stability, and sustainability, will be active in creating destructionism, as the world endures diktat money and poverty as Ambrose Evans Pritchard of the Telegraph writes IMF paper warns of savings tax as West’s debt hits 200-year high. Debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, warns IMF paper.
Authoritarianism is characterized by diktat money which incorporates new taxes which work through public private partnerships, to produce totalitarian collectivism. Market Sanity posts Ron Paul on ObamaCare: It’s all a tax; and Fox News reports ObamaCare brings new taxes, fees for 2014.
World Socialist Fred Mazelis posts in WSWS Bill Clinton administers oath of office to New York’s new mayor, Bill de Blasio The new mayor, who cast his campaign as a crusade for equality, was sworn in by an ex-president whose policies were key to the record rise in inequality over the past two decades.
Totalitarian collectivism of the beast regime of Revelation 13:1-4, is seen in the Inaugural speech of Bill de Blasio, who is sworn in by Bill Clinton, WNYC posts “We are called to put an end to economic and social inequalities that threaten to unravel the city we love. We are called to put an end to economic and social inequalities that threaten to unravel the city we love. And so today, we commit to a new progressive direction in New York. And that same progressive impulse has written our city’s history. It’s in our DNA. it was New Yorkers who challenged the status quo, who blazed a trail of progressive reform and political action, who took on the elite, who stood up to say that social and economic justice will start here and will start now. So let me be clear. When I said we would take dead aim at the Tale of Two Cities, I meant it. And we will do it. I will honor the faith and trust you have placed in me. And we will give life to the hope of so many in our city. We will succeed as One City. We know this won’t be easy; It will require all that we can muster. And it won’t be accomplished only by me; It will be accomplished by all of us, those of us here today, and millions of everyday New Yorkers in every corner of our city. You must continue to make your voices heard. You must be at the center of this debate. And our work begins now” Economic Policy Journal highlights “We will ask the very wealth to pay a little more in taxes so that we can offer full-day universal pre-K and after school programs for every middle school student. And when we say “a little more,” we can rightly emphasize the “little.” Those earning between $500,000 and one million dollars a year, for instance, would see their taxes increase by an average of $973 a year.”
A global economic recession will soon commence as investors continue to derisk out of equities, and continue to deleverage out of credit and currencies; money manager capitalism is about to result in another dreadful fiat wealth meltdown, and deflationary economic bust, just like in 2008. Zero Hedge reports Half of loans issued in 2013 were Covenant Lite, communicating money manager capitalism, which can only result in a very horrific economic bust.
Doug Noland posts his thoughts on soon coming economic deflation, Our central bank’s expanding policy experiment has more recently included unemployment and inflation targets. It is commonly believed that monetary policy can readily impact employment and consumer prices. I would contend that it is certainly within the Fed’s power to manipulate interest rates lower and inject liquidity into the securities markets. Last year provided a historic example of how the Fed can indeed freely create and deploy “money.” It is, however, within the realm of (often whimsical) “animal spirits” to determine the effects upon financial markets. And, yes, this loosening of financial conditions at least in the short-run does stimulate the markets and spending. As we’ve witnessed, extreme monetary stimulus can pull the unemployment rate somewhat lower.
But how about consumer prices? I actually believe there is a major misperception when it comes to the power of contemporary central banks to dictate an aggregate price level, a misconception with potentially important implications for securities prices. In contrast to the traditional central bank printing press that distributed paper currency throughout the real economy (generally raising prices), the contemporary electronic printing press injects liquidity directly into securities markets. The paramount inflationary impact is on securities prices and issuance
Details of financial market trading on January 2, 2013, reveals the epic pivot from bull market to bear market. A Finviz portfolio of Risk Averse ETFs, STPP, HDGE, XVZ, OFF, JGBS, EUO, HYHG, SAGG, SLV, GLD, for the most part traded higher.
Nation Investment, EFA, -1.8%; nations trading lower included
Thailand, THD -9.0
South Korea, EWY -4.7
India, IPN -4.1, SMIN, -3.5
Emerging Markets, EEM -3.8
Turkey, TUR -3.7
Russia, RSX -3.6, ERUS, -3.4
Brazil, EWZ -3.3, EWZS, -3.9
Indonesia, IDX -3.3, IDXJ, -3.5
Germany, EWG -3.2 Open Europe posts Destatis: Federal Statistical Office Spiegel Handelsblatt The German Federal Statistical Office announced on Thursday that the number of people employed in Germany reached a new record-high of 41.8 million in 2013 – an increase of 0.6%.
Spain, EWP -2.8
Finland, EFNL -2.7
Mexico, EWW -2.6
Sweden, EWD -2.6
Switzerland, EWL -2.5
Taiwan, EWT -2.5
Malaysia, EWM -2.5
China, YAO -2.5
The Nikkei, NKY -2.5
The Eurozone, EZU -2.4
World Stocks, VT, -1.5%; world sectors trading lower included
Emerging Market Infrastructure, EMIF -2.3
Design Build, FLM -2.2
Shipping, SEA -2.1
Automobiles, CARZ -2.0
Small Cap Pure Growth, RZG -1.9, includes stocks such as ROLL, JBT, MEAS, HEES, SNX, NNBR, RFIL, DXPE, PKOH
Steel, SLX -1.9
Global Growth, DNL, -1.8
Timber Producers, WOOD -1.7
Consumer Staples, KXI -1.7
Small Cap Consumer Staples, PSCC -1.6
Small Cap Industrial, PSCI -1.5
Small Cap Consumer Discretionary, PSCD -1.5
Regional Banks, KRE, -1.5, includes banks such as HBAN, SNV, FIBK, SIVB, OZRK, GBCI, PACW, FFIN, UCBI
Global Industrial Producers FXR -1.5
Global Industrial Miners, PICK -1.4
Global Industrials, IPN -1.4
Industrials, XLI -1.4
Semiconductors, SOXX -1.4
Aerospace, PPA -1.3
Spin Offs, CSD -1.3
US Infrastructure, PKB -1.2
Nasdaq Internet, PNQI -1.1
Global Financials, IXG, -0.9%; banks trading lower included
Argentina Banks, BFR, -4.6, GGAL, -4.3, and BBVA, -3.7
Korea Banks, SHG -4.2, KB -2.9, WF, -1.8
India Banks, EPI -4.1
Chinese Banks, CHIX -3.2
Brazil Banks, BRAF -2.9
European Banks, EUFN -2.6, includes banks DB -3.3, SAN, -3.3, CS, -3.6, UBS, -3.3
Emerging Market Financials, EMFN -2.1
Asset Managers, ASMA, -1.2
Investment Bankers, KCE, -1.1
Yield bearing sectors trading lower included
Global Telecom, IST -2.3%
Global Real Estate, DRW -2.1
Global Utilities, DBU -2.1
Leveraged Buyouts, PSP -1.6; Lisa Abramowitz tweets Sales of CLOs, which helped finance some of the biggest leveraged buyouts in history, reached $82 bln last year, most since ’07.
Utilities, XLU -1.5, includes electric utilities CNP, AES, D, LNT, and NEE,
US Energy Partnerships, EMLP -1.2
Energy Partnerships, AMJ -1.2
Dividend Payers, DTN -1.1
Energy sectors trading lower included Small Cap Energy, PSCE -2.2% and Energy Production, XOP -2.1; and Energy Service, OIH 1.6, on a lower price of Oil, USO.
Liberalism’s peak fiat wealth is seen in Sotheby’s, BID, 500% rise in the last five years, reflecting risk appetite, and the seigniorage of monetary stimulus, and risk-on investing, produced by the sovereignty of the leveraged speculative investment community, and democratic nation state banker regime, in a riskless trade, reflecting the world central banks policies of investment choice and credit stimulus of Global ZIRP, working through schemes of the debt trade investing and the currency carry trade investing. Most definitely Sothebys, BID, is a retail specialty organization for the wealthy, it is not Ross Stores, ROST, nor is it Wal-Mart, WMT, that is retail stores for the poor. Trust in the monetary authority of the Speculative Leverage Investment Community, produced great wealth.
Gold Miners, GDX, +4.2%, as Gold, GLD, rose, 1.6%; and Silver Miners, SIL, +3.7%, as Silver, SLV, rose 2.9%.
Fiat Money, consisting of Aggregate Credit, AGG, and the Major World Currencies, DBV, and Emerging Market Currencies, CEW, continued to die.
Aggregate Credit, AGG, traded slightly higher, on the trade higher in US Government Bonds, GOVT, such as SHY, IEI, IEF, TLT, EDV, ZROZ, as the Benchmark Interest Rate, ^TNX, traded slightly lower to 2.99%, as other Credit Sectors traded lower; these included Junk Bonds, JNK, Eurozone Credit, EU, Global High Yield Debt Outside the US, HYXU, International Corporate Bonds, PICB, Global Treasury Debt, BWX, Emerging Market Local Currency Bond, EMLC.
The US Dollar, $USD, UUP, traded higher, as fiat money continued to die. The Japanese Yen, FXY, traded higher; while the Major World Currencies, DBV, such as the Swiss Franc, FXF, the Swedish Krona, FXS, the British Pound Sterling, FXB, the Canadian Dollar, FXA, and the Australian Dollar, FXA, as well as the Emerging Market Currencies, CEW, such as the Brazilian Real, BZF, and the Indian Rupe, ICN, traded lower, reflecting that the on going selling of currencies by currency traders, as the bond vigilantes have been continually calling the Benchmark Interest Rate, ^TNX, higher from 2.48%, on October 23, 2013, to its close today January 2, 2013 at 2.99%.
The trade lower in World Stocks, VT, Nation Investment, EFA, and Global Financials, IXG, on Thursday, January 2, 2013, marked a historic and pivotal event in mankind’s history. Fiat wealth has started to die, as fiat money, both credit, and currencies, traded lower from rally highs, reflecting the bond vigilantes success in calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48%. A case in point is the Euro, FXE, trading lower from 136 to 135; and the British Pound Sterling, FXB, from 164 to 163.
Currencies are no longer floating, they are sinking, as investors no longer trust in the monetary authority of the world central banks to provide profitable investment return and support Global Growth and Trade, DNL; the awesome growth in asset values of US Refiners, VLO, MPC, PSX, HFC, seen in ongoing Yahoo Finance Chart, is over, through, finished and done. Furthermore, US Infrastructure Investments, PKB, seen in their Finviz Screener, can no longer be profitable.
Jesus Christ, in opening the First Seal of the Scroll of End Time Events, and releasing The Rider on the White Horse, seen in Revelation 6:1-2, on October 23, 2013, and enabling the bond vigilantes to begin calling the Benchmark Interest Rate, ^TNX, higher from 2.48%, produced an extinction event, that terminated the paradigm and age of liberalism, and thus terminated the investor and all things related to the investor.
The first to go extinct were investors in the Emerging Markets, EEM, specifically Turkey, TUR, Thailand, THD, Philippines, EPHE, Indonesia, IDX, Argentina, ARGT, Australia, EWA, Singapore, EWS, as well as in Major Markets of South Korea, EWY, New Zealand, ENZL, as well as Industrial Miners, PICK, Utilities, XLU, Investors in Emerging Market Financials, EMFN, and Emerging Market Mining, EMMT, such as ACH, as well Agricultural Commodities, SOIL, are like the woolly mammoth of prehistoric times, frozen in place. All of these are global growth and trade sensitive, or are interest rate sensitive, or have trade imbalances. These are the first victims of the First Horseman of the Apocalypse, who is going out to conquer all of liberalism’s authority; its just as John The Revelator says, a crown was given to him, and he went out conquering and to conquer.
The Creature from Jekyll Island, is gone forever, and its replacement, the Fierce Monster of Daniel 7:7, is rising to rule the world; when it is done with its interventionism and destructionism, all of liberalism’s prosperity will be reduce to rubble.
With the US Dollar, $USD, UUP, trading higher from its October 23, 2013, value of 79.25 to its January 2, 2013, value of 80.75, the world’s economic activity is no longer based on the Milton Friedman Floating Regime. The world has PIVOTED to the Beast Regime of Revelation 13:1-4, where economic activity comes from diktat policies of regional governance, and personal life experience is found in debt servitude schemes of totalitarian collectivism.
Through debt deflation at the hands of the bond vigilantes, and competitive currency devaluation at the hands of the currency traders, investors are beginning to derisk out of stocks.
In the new normal, that is in the current deflationary environment, fiat money is history. The fiat currency system is dying, terminating liberalism. Diktat money and the diktat money system is rising, establishing authoritarianism as the paradigm for political experience and economic life.
I encourage a read of the Dispensation Economics Manifest which presents Fifteen Corollaries, that is Fifteen New Things, are coming through the Economy of God
Liberalism’s schemes of investing, sometimes called the spigots of investment liquidity, the debt trade, and the currency carry trade, no longer provide investment funding. Finviz reports Junk Bonds, JNK, traded 0.07% lower. And Action Forex reports the EUR/JPY, seen in ongoing Yahoo Finance Chart, traded unchanged at 144.79; but traded strongly lower after closing. And Action Forex also reports the USD/JPY, seen in ongoing Yahoo Finance Chart, traded unchanged at 105.29; but also traded strongly lower after closing.
Of note, Commodities, DBC, traded parabolically lower, with Agricultural Commodities, RJA, such as Corn, CORN, and Wheat, WEAT, trading strongly lower; and with Oil, USO, and Unleaded Gas, UGA, and Base Metals, DBB, trading lower.
In contrast to other commodities, Gold, GLD, and Silver, SLV, traded higher, taking Gold Miners, GDX, and Silver Miners, SLV, higher.
Investors had been long stocks and short gold, that has reversed, as is seen in the chart of VT:GLD, trading lower in value; the implication is that the investor should take profits, and dollar cost average an investment in the physical possession of gold bullion.
In the age of authoritarianism, there will be only two forms of sustainable wealth, these being nannycrat diktat and the possession of gold bullion and silver bullion. Market Sanity posts Marc Faber: Time to get back into gold?
2) … Noteworthy news items.
Bloomberg reports Indian Rupee falls from rally high as Manufacturing PMI drops. India’s rupee fell from the highest level in two weeks as a drop in a manufacturing gauge sparked concerns about growth in Asia’s third-largest economy. A purchasing managers’ index released by HSBC Holdings Plc and Markit Economics was at 50.7 in December, lower than November’s 51.3.
Bloomberg reports India Leader Singh to step down after vote as Gandhi rises.
Reuters reports Stung by Curbs, Indian iron ore companies throw in towel.
Bloomberg reports Euro falls versus Dollar on bets rally is overdone; Real drops The yen gained after dropping to the lowest level since 2008 against the dollar as Bank of Japan Governor Haruhiko Kuroda said policy makers will continue stimulus until inflation stabilizes at 2 percent. The euro dropped versus most major peers a day after Latvia became the currency bloc’s 18th member. Brazil’s real declined to a four-month low and the Turkish lira weakened to a record
Rebecca Clancy and Denise Roland of The Telegraph report French borrowing costs rising at ‘worrying’ rate. France’s borrowing costs continued to rise as latest figures revealed the manufacturing sector underperformed even Greece. And The Telegraph reports French car market in 2013 should be forgotten. Car makers sold just 1.79m vehicles in France last year, the worst performance in 15 years.
Dietmar Henning of WSWS posts New German defence minister makes Christmas visit to Afghanistan The new German defence minister used a visit to troops in Afghanistan to launch a PR campaign in support of the German army and its future operations.
Johannes Stern of WSWS posts Berlin Senate passes new austerity budget The two-year budget for 2014/2015, the social democratic-conservative Senate in Berlin is paving the way for further austerity in coming years.
Jeff Lusanne of WSWS reports 6,000 Chicago workers lose jobs in Dominick’s grocery chain closure. Thousands of grocery store workers lost their jobs when Dominick’s closed 72 stores on December 28.
Business Insider posts on weather phenomena and the new normal of Ice Age Winter Atmospheric pressure has entered bomb territory and now it’s about to get insanely cold.
Jeff Lusanne of WSWS posts North Dakota train explosion raises questions about oil transport safety
The second large explosion of crude oil being shipped by rail from the North Dakota oilfields shows that significant risks continue to go unaddressed by the industry or regulators.
3) … Dispensationalism, comes from the teaching of the Apostle Paul in Ephesians 1:10, and competes with libertarianism, socialism, Keynesianism, Judaism, Roman Catholicism, conservatism, and a whole host of other processes for the life experience of individuals.
I suggest that one consider the concept of what constitutes authority as presented in following two reports, the first from Economic Policy Journal, and the second from Open Europe.
Economic Policy Journal posts Ludwig von Mises on Hayek’s “The Constitution of Liberty” . Hayek has enlarged and substantiated his ideas in a comprehensive treatise, The Constitution of Liberty (University of Chicago Press, 1960). In the first two parts of this book the author provides a brilliant exposition of the meaning of liberty and the creative powers of a free civilization. Endorsing the famous definition that describes liberty as the rule of laws and not of men, he analyzes the constitutional and legal foundations of a commonwealth of free citizens. He contrasts the two schemes of society’s social and political organization, government by the people (representative government), based upon legality, and government by the discretionary power of an authoritarian ruler or ruling clique, an Obrigkeit as the Germans used to call it. Fully appreciating the moral, practical, and material superiority of the former, he shows in detail what the legal requirements of such a state of affairs are, and what has to be done in order to make it work and to defend it against the machinations of its foes.
Open Europe posts Open Europe business campaign Telegraph BBC Today Programme Times Times: Leader Telegraph: Oborne In an interview with the Times, former Defence Minister Liam Fox has said that “loosening” Britain’s ties with Europe was vital in winning back the trust of voters. “We are likely to see across Europe nationalist parties and parties on the political extremes doing well, because [voters] believe they have been sold out by the traditional mainstream parties,” he said. Writing in the Telegraph, Peter Oborne argues that “The Left and Right can disagree – honourably so – on many great issues. But surely both sides of the ideological divide can accept that democracy is still worth fighting for, and that the common enemy has become the European Union.”
Dispensationalism communicates that history is separated into epochs, that is time periods, and that Jesus Christ, being sovereign, and having all authority, and having a name above all other names, acts in the economy of God, for the maturing, completion and perfection of each age and all things therein; and that while there is a unique experience in the paradigm of each era; there is a flow of experience that ties all ages together.
Dispensationalism presents that authority, both political and economic, does not now, nor has it ever existed in natural law. Furthermore, authority now longer resides in democracy; but now Obrigkeit, as the Germans say, resides in beast regime’s policies of diktat in regional governance in all of the world’s ten regions, and has effect in schemes of debt servitude in totalitarian collectivism in each of the world’s seven institutions, as presented by the Apostle John in The constitution of endtime rule, Revelation 13:1-4. The only rule of law that exists under authoritarianism is the diktat of nannycrats, and the word, will and way, of the Sovereign, Revelation 13:5-10, and his partner, the Seignior, Revelation 13:11-18, meaning top dog banker who in minting money, takes a cut.
This is the case, as the Apostle John, sometimes called John The Revelator, presents in Revelation 6:1-2, that Jesus Christ, on October 23, 2013, opened the first seal of the Scroll of end time events, and released The Rider on the White Horse, who has a bow, without any arrows, symbolic of economic sovereignty, to effect a global coup d’etat, to transfer sovereignty, that is authority, from bankers and nation state democracies to nannycrats and regional bodies such as the ECB, to bring forth the Beast System of Revelation 13:1-4, with its policies of diktat in regional governance, and schemes of debt servitude in totalitarian collectivism, as a replacement for the libertarian despised Creature from Jekyll Island, that is the democratic nation state and banker regime. Regional interventions will replace nation state interventions. The world PIVOTED from the paradigm and age of liberalism, to that of authoritarianism, on October 23, 2013, as the bond vigilantes began calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48%. Have you heard and heeded the call?
EUobserver reports that Catalan President Artur Mas has written to EU leaders and world powers seeking their support for a planned referendum on independence from Spain to be held in November. The Spanish government has already said that the referendum would breach the Spanish constitution.
There is waiting in the wings of Europe’s stage, its future leader. Soon the curtains will open and into the limelight, will step the Sovereign, presented in Revelation 13:5-10, one who will rise to power through his shrewd capability of working in regional framework agreements, Daniel 8:7.
Open Europe posts FT and FT: Barber has a feature on the race for the job of next European Commission President, noting that the largest centre-right grouping in the European Parliament, the EPP, is due to select its candidate at a March meeting. Open Europe Director Mats Persson is quoted by Finnish daily Hufvudstadsbladet discussing Olli Rehn’s prospects of becoming the liberal candidate. This inquiring mind asks, In what way, can Olli Rehn be considered liberal?
Open Europe posts Volkskrant reports that Germany and France are keen to establish a permanent eurogroup President, which could be arranged within the year. The paper suggests the post would be unlikely to go to current eurogroup President and Dutch Finance Minister Jeroen Dijsselbloem.
4) … In hopes that you the reader won’t be left behind in financial matters, I’ve been presenting dispensationalism and reformed eschatology for quite some time; here are some posts one may want to read.
The word Revelation” in Greek is “ Apokalupsis “ which means the unveiling of God’s program for His Church and the consummation of the New Testatment Age.
Samuel Clough asks Why Study Eschatology?
The Schaeffer Institute asks Where can you find ‘apocalypse’ is in the Bible?
Phoenix Preacher posts Book of the Year: Biblical Eschatology by Jonathan Menn
Beholding Jesus posts The heart of eschatology. Eschatology is not simply a question of “what is going to happen?” The deeper question at stake in eschatology is “what is God like?”
Biblical Muse posts Reformed eschatology In the world of eschatology, there are four major views:
Preterism: Many prophecies have already occurred in the past; This view denotes a 1st-century fulfillment concerning the literary text; real events have already transpired. Some events may be symbolic of other fulfillments, thus taking a symbolic interpretation of the text.
Futurism: Many prophecies will be fulfilled in the future, and in some cases might have an imminent fulfillment concerning the literal text; They believe in real physical events; Biblical literalism is emphasized.
Historicism: Interprets the text as currently being fulfilled during the span of Christian History. Text is sometimes taken as symbolic of real events, rather than being literally true.
Idealism: Present continual fulfillment of symbolical or literary text; spiritual events; Allegorical interpretation is emphasized.
Word Journeys posts The ten visions presented in Revelation