"The earth will be completely laid waste and completely despoiled, for the Lord has spoken this word."'Despoil' means to strip of possessions, things of value,etc. rob, plunder, pillage. This is something that God will do. Anything worth value he will take. All good will be gone. This chapter is quite terrifying if read with a real sense that this is all going to occur.
We do not wish to hear about such things. I would encourage you to read this chapter slowly and see for yourself just how seriously God takes the sin of mankind. I understand that your eschatological view will shape exactly how you see this chapter, but no matter which way it falls, God is going to do this great thing upon the earth and we ought to be reverent in our thinking concerning such matters. This time will be nothing to smile at and so let us approach this chapter with this way of thinking.