Our economy is in a death spiral. A crash is coming and it’s unavoidable.
Almost 30 million folks lost their jobs in a 5 week span.
After living through the 2008 crash, I, like many business owners at the time, suffered greatly.
Builders, real estate, and mortgage companies, both residential and commercial, were the first to feel the effects. Afterward the dominoes began to fall. The resulting job losses and stock market losses impacted every single American.
We never truly recovered as the government was forced to stimulate and borrow money to avoid total collapse. All in all the US government borrowed and spent 1 trillion dollars per year for 8 years to finally begin to get back to normal.
Those debts have to be paid. By taxpayers. You and me. Our kids and grandkids.
As scary as borrowing 8 trillion dollars is, our current situation is worse.
So far, in 6 weeks, we’ve already spent or borrowed 6 trillion dollars. That’s 1 trillion dollars PER WEEK!
Four trillion in securities purchases and other shenanigans designed to keep credit flowing, plus over 2 trillion dollars were spent in the economic stimulus bill.
Although the stimulus will help in the short term, it’s too little and way too late. Our economy is about to go over a cliff.
Without going too deep into the weeds, I’ll keep it simple.
Our fake, debt-based system, is coming down and it’s going to be biblical. A crash like nobody’s ever experienced.
How it happens and how long it takes, I’m not sure, but one thing I know–our country, our culture, our point of view will forever change. Especially around how our economy works. Especially around the subject of debt.
Yesterday’s post about the mid 1950’s appeals to a lot of us, because we’re tired of the rat race. We’re tired of working hard and every ten years or so we have a war or a crisis that requires more and more spending. More and more bailouts. More and more debt.
Debt paid for by taxes.
Most Americans give away almost 50% of their income to a government that wastes it and funnels it to their cronies and special interests.
All of it is about to end.
The Great Reset is coming.
After the Federal Reserve buys up all outstanding debt, which may take some time, I believe that debt, both public and private will be forgiven.
Don’t believe it? There are plenty of prominent economists discussing the subject. Check it out here.
In biblical times they called this a jubilee.
Along with the great economic reset will be an opportunity for people to do a personal reset.
Mentally. Physically. Spiritually.
Viruses, economic meltdowns, and jubilees are not under our control. However, despite our circumstances, we still have the opportunity to reset.
Let us begin by taking the opportunity to renew our relationship with the God of creation.
Today is a good day to start.