This post will have no deadlines, no time-frames, and no predictions of what will happen when, at least I will try to stay away from that sort of talk. There, that probably drove most of the readers away, so only those truly interested will be reading from here on. With that being said, there is much going on that can have an impact on the US economy, in the shorter term as well as the longer run.
Russia and China – let’s face it, neither likes the US, and haven’t for some time. It seems our allies and/or enemies have tolerated us, but that degree of tolerance, and the willingness to do so, is diminishing. In recent weeks, Russia and China have engaged in some international trade that has all the appearances of leaving the US out of the picture. Russia, the world’s largest producer of natural gas, and China, quickly moving toward status as the world’s largest economy, have signed a deal by which Russia will provide gas over 30 years in a deal worth around 400 billion dollars in value. This is an ironic way to speak on valuing the deal, as both countries are also setting up to settle their international trade in their own currencies, cutting the US Dollar out as the settlement currency. We have already talked about the financial and economic impact of such moves in earlier posts. If you read the recent post on worldwide famine here, you know that an economic disruption in the US could trigger food insecurity across the US. On the world scene, players like Russia and China are finding the United States less relevant (and certainly less feared and/or tolerated), this could begin to equate to domestic shifts that seemed impossible just a few years ago. Surprised? I am a bit surprised at the rapidity, but I have read the book of Revelation in the Bible, this does seem to line up with a role for the US in End Times Prophecy. Go look for our role there (Spoiler alert: you will not find one).
Domestic US – look at what is going on here, a brief scan will suffice:
- We are becoming increasing brutal to our homeless population, and those down on their luck. US cities are passing laws making it illegal to feed the homeless, shutting down ministries that attempt to do so, and bulldozing the temporary living space (“tent cities”) these unfortunates dwell in trying to cope.
- Businesses are closing in rates faster than new businesses are being created. That smells like more and more recessionary activity within our economy. Some economists expect the US economy to be in a depression for the next five years, a bad one. (OK, one predictive statement crept in, sorry). Corporate profits and retail sales volumes seem to be dropping as well. Sears is closing stores and those who follow the company and retail industry are talking about Sears survival. Sears?
- In 1 of 5 American families, no one is employed. Household debt continues to rise. People are buying things they cannot afford, and it isn’t things they don’t need, it is necessities that are being purchased.
- During the decade of the 1990’s, twice as many mothers were employed full time than there were mothers who received Food Stamps, today more mothers receive Food Stamps than the number of mothers who have any kind of employment.
- US industrial production is dropping and manufacturing jobs keep disappearing. You know the type of jobs where things get built and sold, where value is created and wealth is accumulated.
- Western banks are showing revenue declines. George Soros is thought to be unloading his portfolio of bank stocks.
- Home ownership rates are dropping, real estate sales declining, unsold home inventories building. There are lots of homes for sale and fewer buyers.
- There are more people living on social security disability in the US than there are people in Greece.
I could go on, but you see the picture, which is not only not pretty, it is getting downright ugly. There is no American dream, no promises of prosperity we can hold on to, the slide continues, improvement does not seem to be appearing on the horizon.
For the Christian, it is not a surprise but a sober reminder of the truth of the Word of God and the need to turn to Him in obedience. We cannot solve our problems, we are proving that daily. In these difficult times, which grow harder daily, it is only through steadfast faith that one can make it through without losing one’s temper or sanity; one’s mercy and compassion for others; one’s desire to help other believers and pray for and evangelize those who do not know the Lord Jesus Christ as we do.
Is there good news in all this? Stay faithful, stay obedient, wait eagerly, possibly anxiously. Because…
Jesus is coming soon!