The Daily Jot
Daily reporting and analysis of current events from a biblical and prophetic perspective.
Thursday, June 2, 2011
Consequences of Biblical proportions--The pending American depression
CNBC is carrying a story where market strategist Peter Yastrow predicts "We're on the verge of a great, great depression." Yastrow cites as factors that homeowners are upside down in their mortgages, the slow pace of the technology sector, and the Federal Reserve's control of interest rates. He says, "What we've got right now is almost near panic going on with money managers and people who are responsible for money" because they cannot find a yield. Another fund manager quoted by CNBC says, "It seems that almost every bit of data about the health of the US economy has disappointed expectations recently."
There is a premise here that seems to be overlooked. I think it is overlooked because all the "smart" people from Yale, Harvard, Oxford, etc., were the ones who came up with the idea and it goes against the laws of God. That premise is that one cannot spend a household, a business or a government into prosperity. In the case of America, the economic advisors in whom our past two presidents have trusted, sold the idiotic idea that the government could borrow and spend its way to prosperity. It doesn't work. Anybody who has ever had to balance a checkbook knows this. The Bible says in Romans 13:8, "Owe no man anything."
The Lord gave the nation of Israel many commandments, that if followed, the nation would be blessed and as a people, they would prosper. Deuteronomy 15:5, 6 says, "Only if thou carefully hearken unto the voice of the Lord thy God to observe to do all these commandments which I command thee this day. For the Lord thy God blesseth thee, as he promised thee: and thou shalt lend unto many nations, but thou shalt not borrow; and thou shalt reign over many nations, but they shall not reign over thee." These are principles of life, liberty, and the pursuit of happiness. But our government in America has denied God, separated itself from him, and has lost its bearings of good sense and of sound responsibility.
We are now beginning to see the harsh reality of the folly of these godless humanists who coveted the work of your hands through taxes and policies, and have squandered your inheritance. The spending that these scoundrels incur on your behalf piles up at a rate of about $100,000 every 20 seconds. And at some point, that one dollar that falls upon the national debt will cause it all to crash down--the proverbial straw that breaks the camel's back. Each dollar the government takes from you and, in turn, borrows more to add to this debt, is a warning that we as a people must make a radical turn back to the Lord and His commandments or face the consequences. It is time to measure leadership against the plumb line of scripture rather than by the feather that tickles the ear.
Have a Blessed and Powerful Day!