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🇺🇦 Charted: Biden's economic case for Ukraine
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: Department of Defense; Chart: Axios Visuals

The Biden administration is making an economic appeal to Republicans skeptical of supporting aid to Ukraine, releasing data that shows some of the biggest defense contracts related to the war effort are located in red states, Axios' Hans Nichols and Stef report.

  • The Pentagon has been circulating a map on Capitol Hill that breaks down U.S. spending on weapons systems, equipment and munitions by state, Politico first reported.

By the numbers: Six of the top 10 states receiving investment from four previous Ukraine packages are in states that former President Trump won in 2020.

  • A total of $2.3 billion has been invested in Arkansas, which ranks No. 1 in the country.
  • Arizona and Pennsylvania — critical swing states that Biden managed to flip in 2020 by slim margins — come in at No. 2 and No. 3.

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phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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🍽️ Wage growth slows at restaurants
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: Square. (Earnings include base wages, tips and overtime.) Chart: Axios Visuals

Restaurant workers' wage growth has slowed considerably since peak COVID, Axios' Alex Fitzpatrick writes from Square data.

  • Why it matters: The slowdown is a sign that restaurants are no longer quite as desperate for workers.

🧮 By the numbers: Restaurant workers' wages grew 4.9% year over year in October.

  • That's slowed from peak growth of 10.5% in December 2021, when the average base wage was $12.60 and average hourly earnings totaled $15.85.

Go deeper.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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🎁 Surprise holiday rush
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Data: Gallup. Chart: Axios Visuals

The Christmas countdown is on and consumers have increased gift budgets in the final weeks of the holiday shopping season, Axios' Kelly Tyko writes from a new Gallup survey.

  • Why it matters: Despite falling consumer sentiment, Americans plan to spend an average of $975 on gifts — a $52 increase from what consumers thought in October, the survey found.

The holiday spending estimate is also up $100 from last year, the survey of 1,009 U.S. adults shows.

  • Consumers' estimates normally decline — not increase — as the season progresses, Gallup notes.

🔎 Zoom in: The expected December spending spree follows a record-breaking Black Friday and Cyber Monday.

  • Households with children plan to spend $1,306, compared with $835 among those in households without children.

Keep reading.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Solid US hiring lowers unemployment rate in latest sign of a still-sturdy job market

WASHINGTON (AP) — U.S. employers added a healthy 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve’s 2% target without causing a steep recession.

https://apnews.com/article/jobs-economy-inflation-rates-hiring-federal-reserve-953387b195e6c58703b33ef94dad11b4?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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November jobs report shows labor market is flourishing

November's jobs report shows the American labor market is still flourishing with strong employment and wage growth — alongside workers flooding into the labor force.

https://www.axios.com/2023/12/08/november-jobs-report-analysis?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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💰 Good news: Savers beat inflation
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Data: Bankrate.com, BLS. Chart: Axios Visuals

It's a golden era for savers: Those fortunate enough to have some spare cash can earn some real interest on their money right now.

  • The rate on the highest-yielding savings accounts is outpacing inflation by a historically wide margin, Axios' Emily Peck reports.

💡 Reality check: Not all savings accounts offer great rates, and the Fed could cut rates as soon as early next year, changing the dynamic.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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🩺 Where the jobs are
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: Labor Department. Chart: Axios Visuals

Nearly all of the job growth in the economy in November came from just three sectors: healthcare, government employment, and leisure and hospitality, Axios' Emily Peck writes.

  • It's been happening all year. These three sectors, plus private education employment, are responsible for 81% of all the jobs created in 2023, James Knightley, ING's chief international economist, wrote in a note.

Why it matters: The data may help explain why so many Americans are pessimistic about the economy despite what looks like a strong labor market — they might not work in one of the growing sectors.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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A lot of things are getting cheaper. Here's why you probably haven't noticed.

Even though inflation is still higher than ideal, many things are actually getting cheaper. But perhaps not the ones most Americans want.

https://www.businessinsider.com/high-inflation-goods-durables-deflation-groceries-expensive-federal-reserve-cars-2023-12?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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November's inflation data is not as benign as it seems

The inflation story of late has been straightforward: Price pressures were easing nearly across the board, boosting hopes that the inflation war was just about won.

https://www.axios.com/2023/12/12/inflation-cpi-november?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year

WASHINGTON (AP) — The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.

https://apnews.com/article/federal-reserve-inflation-prices-interest-rates-cuts-d95b976ef2194cea8516f21c98f62ded?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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🔮 CEOs see more hiring
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Data: Business Roundtable. Chart: Axios Visuals

More chief executives of America's largest companies plan to add workers than just three months ago — which could keep the economy humming in the months ahead.

  • That's according to a new survey of 141 CEOs conducted by the Business Roundtable — seen first by Axios Macro authors Courtenay Brown and Neil Irwin.

Why it matters: The results are consistent with an economy continuing its steady growth and avoiding the oft-predicted recession.

🧮 By the numbers: The BRT's economic outlook index rose 2 points to 74 this quarter. The index peaked in Q4 2021 and has now hovered at similar levels — showing steady if unspectacular growth — for six straight quarters.

  • "The results of this quarter's survey are consistent with an economy that is cooling and the Federal Reserve's strategy to bring inflation back to target," BRT CEO Joshua Bolten said in a statement.
  • The BRT's hiring index jumped nearly 10 points, as more leaders planned to increase their payrolls. It reversed a deterioration in employment plans in Q3.

⚠️ Warning sign to watch: While most CEOs plan to hold capital spending plans steady, a growing share say they will slash investments in things like new machinery, factories or software in the months ahead.

🔎 Between the lines: The BRT says that at least one factor behind moderating investment plans is expired Trump-era tax breaks that look unlikely to be re-upped by Congress.

  • "With the decrease in plans for capital investment, it is critical that Congress restore provisions to support investment," Bolten said.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Fed leaves interest rates unchanged, signals cuts ahead next year

The Federal Reserve left interest rates unchanged at its final policy meeting of 2023, while signaling that 2024 could bring significant rate cuts.

https://www.axios.com/2023/12/13/federal-reserve-interest-rates-meeting-decision?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Stock market today: Asian shares are mostly higher after the Dow hits a record high, US dollar falls

BANGKOK (AP) — Shares are mostly higher in Asia after a powerful rally across Wall Street sent the Dow Jones Industrial Average to a record high as the Federal Reserve indicated that interest rate cuts are likely next year.

https://apnews.com/article/stock-markets-inflation-interest-rates-00104572343cfc006f7036c4fbbf4b71?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Wage inequality fell in 2022 because stock market declines brought down pay of the highest earners

But top 1% wages have skyrocketed 171.7% since 1979 while bottom 90% wages have seen just 32.9% growth

https://www.epi.org/blog/wage-inequality-fell-in-2022-because-stock-market-declines-brought-down-pay-of-the-highest-earners-but-top-1-wages-have-skyrocketed-171-7-since-1979-while-bottom-90-wages-have-seen-just-32-9-growth/?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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💰 Dow hits record
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: FactSet. Chart: Axios Visuals

Hints from the Fed that it could cut rates a lot next year sent the Dow Jones Industrial Average to a new record yesterday, Axios Markets co-author Matt Phillips writes.

  • The Dow is up 29% since bottoming on Sept. 30, 2022.

Why it matters: This is the first new high the Dow has hit since late 2021. According to market convention, the new high confirms that the rally that started for the Dow in September 2022 is officially a new bull market.

🥊 Reality check: The Dow is still the mental benchmark that millions of Americans use for the stock market. But financial professionals avoid the antiquated index almost completely.

  • The S&P 500 — a broader, more representative, and much more widely used stock market gauge — still is a couple percentage points shy of a new high. And thus this market hasn't quite earned its bull horns.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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The Federal Reserve’s period of rate hikes may be over. Here’s why consumers are still reeling

The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead.

https://www.cnbc.com/2023/12/13/the-federal-reserve-held-rates-steady-heres-what-that-means-for-you.html

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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U.S. economy will pull off soft landing in 2024, CBO projects

The U.S. economy is on track to avoid a recession next year as inflation returns to normal, according to new economic projections released by the Congressional Budget Office.

https://www.axios.com/2023/12/15/us-economy-avoid-recession-inflation-cbo-projections?

ps:Lets not get ahead of ourselves!! Give it another number of months first!! And even than nothing is over until it's over!!!

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Mortgage rates drop under 7% for the first time since August

Mortgage rates fell under 7% for the first time since mid-August this week. It is the seventh straight week that rates have dropped, as inflation improves and the Federal Reserve paused its rate increases.

https://www.cnn.com/2023/12/14/business/mortgage-interest-rates-drop/index.html

ps:I could be wrong, but in all my years of owning a home my interest rate was never under 7%?? So not sure why some are complaining that there rates are to high!!

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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On 12/16/2023 at 8:40 PM, phkrause said:

U.S. economy will pull off soft landing in 2024, CBO projects

The U.S. economy is on track to avoid a recession next year as inflation returns to normal, according to new economic projections released by the Congressional Budget Office.

https://www.axios.com/2023/12/15/us-economy-avoid-recession-inflation-cbo-projections?

ps:Lets not get ahead of ourselves!! Give it another number of months first!! And even than nothing is over until it's over!!!

Inflation suppressed ahead of the election.  

8thdaypriest

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🕶️ Misery Index: Worst is over
mail?url=https%3A%2F%2Fgraphics.axios.co
Data: FRED. Chart: Axios Visuals

The "misery index" — the sum of the unemployment rate and the inflation rate — is at its lowest point since the pandemic hit in March 2020, Axios' Felix Salmon writes.

  • The index is ending 2023 at 6.8% — well below the 8.3% average for the century to date.

Why it matters: The double whammy wrought by COVID — first a huge spike in unemployment, then a big rise in inflation — now seems to be over.

  • Both indicators are reverting to low levels indicative of a healthy economy.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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💸 Where wages will rise
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Data: Paycor. Map: Tory Lysik/Axios Visuals

The minimum wage is set to increase in 22 states on Jan. 1, Axios Markets co-author Emily Peck writes.

  • Why it matters: For Americans making minimum wage, it's an automatic raise — but it also ripples out. Typically, increasing the wage floor for the lowest earners pushes up pay for those who make a bit more than the minimum, as employers have to adjust pay scales upwards.

🔎 Zoom in: In 13 states (including California, Ohio and South Dakota), wages are going up because they're indexed to inflation.

  • Three more states and D.C. are set to raise the wage later in the year.

The last time the federal minimum wage ($7.25) was increased was in 2009.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Many Florida utility bills expected to dip in 2024

TALLAHASSEE — After high natural-gas costs helped push up electric bills over the past year, many Florida utility customers could get some relief in 2024.

https://www.orlandosentinel.com/2023/12/21/many-florida-utility-bills-expected-to-dip-in-2024/?

ps:Not sure about other states, but if it really is going to happen here it should happen in other states!! 👍👍

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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1 big thing: Why everyone got '23 wrong
Illustration of the text
 

Illustration: Aïda Amer/Axios

 

Last year at this time, most economists, many journalists and a lot of regular Americans felt certain the U.S. was headed into recession. They were wrong.

  • The U.S. economy failed to fail in 2023 — one of the year's biggest and happiest surprises, Axios Markets co-author Emily Peck writes.

🪞 Flashback: Many economists and finance experts believed the Fed's battle to tame high inflation with rapid interest rate hikes would trigger high unemployment and a recession, as it had in the '70s.

  • Instead, the economy grew.
  • The unemployment rate stayed low, as the job market cooled but remained strong.

💭 Former Treasury Secretary Larry Summers told Axios: "Given the strength of the economy, inflation has come down more than I expected. ... The economy appears stronger than would have been a best guess."

  • Treasury Secretary Janet Yellen said earlier this month in Mexico City that economists who predicted high unemployment would be needed to tame inflation "are eating their words."

Reality check: The Fed's rate hikes did trigger pain in many parts of the economy.

  • The real estate market is now, to put it technically, a mess. A lot of tech workers lost their jobs.
  • Last spring, there was a mini-banking crisis, as high rates exposed weaknesses at some financial institutions.

But the hurt in certain sectors didn't spread to the "real economy" — the realm in which regular Americans work and spend.

  • Most of us kept working and spending.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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📈 Charted: Merry markets
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Data: Factset. Chart: Tory Lysik/Axios Visuals

Reflecting the economy's surprise strength and stability, stock indexes are at or near all-time highs.

  • The S&P 500 is within 1% of its all-time high.
  • The Dow Jones Industrial Average, after setting a record last week, is nearing another one.

Go deeper: 6 charts that defined the markets in '23.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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