Wednesday, May 20, 2009

US Economy

Economists and political commentators seem to have three different views about the US economy.

  1. Things will be rough, but the government is doing enough to get us through. The economy will turn up later this year and we will see stronger growth in 2010.

  2. The worst is yet to come. The economy will go into a dive and take many years to recover.

  3. Same as number two, but with serious inflation. The money creation being undertaken by the Fed will eventually cause inflation to blow out.

Option One is probably the most popular. Many astute observers are backing option three. These are mostly the people who saw the housing collapse before anyone else, so they have some credibility.

I am interested in what economists and other observers are saying, but I also want to understand what God is doing. Most Christian commentators seem to be backing option one.

David Wilkerson is the only one who seems to be advocating Option Two. A few Christians seem to have moved into the third camp. As I noted above, that option has considerable credibility, but if that is where we are, I would expect many more prophetic people to be sounding a warning. So far I have not found many.

1 comment:

Jim Wesberry said...

I offered three similar scenarios in a speech made for the Russell Bedford International Accountancy organization's Americas Conference held here in Quito, Ecuador on January 24, 2009:

"We can only guess at that impact using several possible alternative scenarios:
a. Return to “normalcy.” A significant recession that will pass fairly quickly as have all the other recent ones with the world economy stabilizing within one or two years, the Dow Jones stabilizing between 9,000 and 12,000 and eventually expanding again.
b. Long-Term Recovery. A much longer recession/depression that in the long run, perhaps four to ten years, will be largely overcome by governmental measures taken to strengthen the economy and better regulate financial markets, operations and transactions…or by mobilization for a new World War.
c. Crisis turns into chaos...a return to oppression. A collapse of the world economic system including the decline and possible demise of the United States as a key global economic power resulting in chaos across the planet, widespread panic, disease, wars and readjustments of national alliances and boundaries, including the possibility of the larger nations breaking up into smaller more compatible groupings, some smaller nations merging and most nations finding it impossible to govern without extremely authoritarian regimes. This could conclude the past three century era of experimentation with democracy, capitalism, socialism and communism and result in a new era of powerful rulers like the old monarchies, the end of privacy and the suppression of most dissent. Several larger powers could eventually control the world…or wage war over it. (This is a worst case scenario. It could hopefully be somewhat less ominous)."