Facts or suppositions, all Americans have felt it on their pockets that there is something happening to their economy and not towards the positive side. The newspapers have been full of titles like "Oil and gasoline prices skyrocketed". With the new oil price record of over $135/barrel, the price for food and goods reach new heights as well; keeping in mind that the dollar has dropped by 18% of his international value in 2007. In other words, the slumping American dollar caused the US economy a major hit; the latter shrunk by 16% in the past year when compared to global economy.
The response to what caused the US economy drop is complex; however, some answers can be found in the credit crisis.
Charles Moffat, from The Politics eZine affirms: "Americans have too many mortgages, too many credit cards and too much national debt. They rely on foreign imports from China and other nations and their own economy has become too service oriented and lacks manufacturing.
Imagine you have $10,000 in the bank and the yearly compound interest rate is 5%. Over a year you would get $500 in interest. But imagine for a moment if the value of food, gasoline and all commodities doubled in price in one year. Your $10,500 isn't really worth the same as it used to be... it is now worth approx. $5,250 in terms of actual purchasing power".
Economists' answer
This is the situation in USA at the moment and the most important economists in USA seem to be rather gloomy when referring to the country’s economy:
"The world is set to jump off the top of a waterfall without knowing how deep the water is below." - Kenneth Rogoff, IMF (International Monetary Fund) Head of Economic Research.
"There's a 75% chance that the US will experience a currency crisis within five years." - Paul Volcker, Chairman of the US Federal Reserve.
Stephen Roach, Chief Economist, Morgan Stanley says:"There's nobody home on economic policy in America right now. It’s an accident waiting to happen."
Pastors' answer
To this reality, I’ll let you read on the spiritual answer of David Wilkerson, founder of Teen Challenge, Inc., the worldwide Christian drug and alcohol rehabilitation ministry. He is the author of The Cross and the Switchblade, The Vision, Have You Felt Like Giving Up Lately?, Hungry for More of Jesus, Revival on Broadway and many other books. David and his wife, Gwen, live in New York City, where he serves as senior pastor of Times Square Church.
". . .Beloved, America is facing God's judgment--and we will never be the same! In the days to come, literally hundreds of thousands of Americans will lose their homes. Why? They've leveraged them with equity loans, so they could play the stock market and try to strike it rich!
I tell you, the stock market has become America's golden calf! People see it as a financial savior, and they worship it daily--trusting in it, depending on it, giving it all their energy and attention. But it's going to fall suddenly--and none of the small, individual investors will be spared. They'll suffer the most, losing their homes, their cars--everything!
I must ask you: "Are you prepared for what is coming? If not, are you acting now to get ready? When I speak of being ready, where do your thoughts take you? Do you think immediately of investments, bank accounts, survival plans, safety for your family?"
Indeed, today - while most of America focuses on its prosperity, God is waking a holy remnant in the church. These saints are on their faces, seeking Him with all their strength and crying out for a true Word from the Spirit of truth.
In recent months, our ministry has received hundreds of letters from pastors and believers who are repulsed by most of what they see in the church: hype, foolishness, entertainment, shallow preaching. They're crying out, "Enough! We're tired of seeing our pastors go to conventions and return only to introduce come new gimmick. We're sick of seeing the flesh accommodated. We're hungry for truth! We want to hear preaching that convicts us and challenges us to holiness and prayer."
Believer, you can rest assured--in the coming days of calamity, the true revival won't come through showboating, big-time preachers or TV evangelists. It won't come through prosperity teachings or other doctrines of false security. No--God's revival will come through a hidden company of pastors and lay people who have been in the school of Christ, learning His ways and trusting in Him. These will lead a revival of truth!
Yet not everyone is going to want truth. Many will turn to unbridled lust. Indeed, our society could see Sodom replayed a hundred times over. But, as our nation poises on the brink of chaos, many Americans will begin to seek truth, answers, life.
As for me, I want to face the coming times as "... a workman that needs not to be ashamed, rightly dividing the Word of truth" II Timothy 2:15
The response to what caused the US economy drop is complex; however, some answers can be found in the credit crisis.
Charles Moffat, from The Politics eZine affirms: "Americans have too many mortgages, too many credit cards and too much national debt. They rely on foreign imports from China and other nations and their own economy has become too service oriented and lacks manufacturing.
Imagine you have $10,000 in the bank and the yearly compound interest rate is 5%. Over a year you would get $500 in interest. But imagine for a moment if the value of food, gasoline and all commodities doubled in price in one year. Your $10,500 isn't really worth the same as it used to be... it is now worth approx. $5,250 in terms of actual purchasing power".
Economists' answer
This is the situation in USA at the moment and the most important economists in USA seem to be rather gloomy when referring to the country’s economy:
"The world is set to jump off the top of a waterfall without knowing how deep the water is below." - Kenneth Rogoff, IMF (International Monetary Fund) Head of Economic Research.
"There's a 75% chance that the US will experience a currency crisis within five years." - Paul Volcker, Chairman of the US Federal Reserve.
Stephen Roach, Chief Economist, Morgan Stanley says:"There's nobody home on economic policy in America right now. It’s an accident waiting to happen."
Pastors' answer
To this reality, I’ll let you read on the spiritual answer of David Wilkerson, founder of Teen Challenge, Inc., the worldwide Christian drug and alcohol rehabilitation ministry. He is the author of The Cross and the Switchblade, The Vision, Have You Felt Like Giving Up Lately?, Hungry for More of Jesus, Revival on Broadway and many other books. David and his wife, Gwen, live in New York City, where he serves as senior pastor of Times Square Church.
". . .Beloved, America is facing God's judgment--and we will never be the same! In the days to come, literally hundreds of thousands of Americans will lose their homes. Why? They've leveraged them with equity loans, so they could play the stock market and try to strike it rich!
I tell you, the stock market has become America's golden calf! People see it as a financial savior, and they worship it daily--trusting in it, depending on it, giving it all their energy and attention. But it's going to fall suddenly--and none of the small, individual investors will be spared. They'll suffer the most, losing their homes, their cars--everything!
I must ask you: "Are you prepared for what is coming? If not, are you acting now to get ready? When I speak of being ready, where do your thoughts take you? Do you think immediately of investments, bank accounts, survival plans, safety for your family?"
Indeed, today - while most of America focuses on its prosperity, God is waking a holy remnant in the church. These saints are on their faces, seeking Him with all their strength and crying out for a true Word from the Spirit of truth.
In recent months, our ministry has received hundreds of letters from pastors and believers who are repulsed by most of what they see in the church: hype, foolishness, entertainment, shallow preaching. They're crying out, "Enough! We're tired of seeing our pastors go to conventions and return only to introduce come new gimmick. We're sick of seeing the flesh accommodated. We're hungry for truth! We want to hear preaching that convicts us and challenges us to holiness and prayer."
Believer, you can rest assured--in the coming days of calamity, the true revival won't come through showboating, big-time preachers or TV evangelists. It won't come through prosperity teachings or other doctrines of false security. No--God's revival will come through a hidden company of pastors and lay people who have been in the school of Christ, learning His ways and trusting in Him. These will lead a revival of truth!
Yet not everyone is going to want truth. Many will turn to unbridled lust. Indeed, our society could see Sodom replayed a hundred times over. But, as our nation poises on the brink of chaos, many Americans will begin to seek truth, answers, life.
As for me, I want to face the coming times as "... a workman that needs not to be ashamed, rightly dividing the Word of truth" II Timothy 2:15
 | | By Claudia Miclaus |
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