The MASSIVE creation of debt in the US, China, EU and Japan is what is holding up the stock market, which is holding up the listed companies and the top 7% of wealthy citizens who haveir wealth in stocks… and these few are propping up consumption in the world economy.
As the Pew Research Center finds, during the first two years of the US economic ‘recovery’, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%. As they explain, affluent households typically have their assets concentrated in stocks and other financial holdings, while less affluent households typically have their wealth more heavily concentrated in the value of their home.
But are the higher stocks keeping the world economy afloat? Really?
The consumption of raw matetials is declining, the use of rail cars and electricity is declining and shipping is declining. The world economy is winding down.
Vast amounts of free cash that seemingly will never be repaid is only slowing the decline, but not stopping it. The creation of massive amounts of cash out of nowhere (aka debt) each month continues… its almost a new normal now.
“Debt no longer matters” I remember someone saying. If so, why not just create new money and deposit that money in everyones bank account each month? Simple. Debt doesnt matter, right? If inflation can be stopped by legal decree then simply print new money and deposit it into citizens accounts each month. We will spend it and the economy will chug along.
But… isnt that socialism?
Is it time to admit that Gordon Gekko was wrong and greed is NOT good, and that our approach to life is NOT working.
Two systemic collapses in 5 years is not good. Is it time to consider alternatives?
How about we economically include everyone – trickle up – and lets NOT adopt systems thst only reward only the 1% or 7% right at the top of the pyramid.
Instead lets get everyone actively involved, lets get everyone a job and a house, lets take care of those less fortunate who cannot take care of themselves.
I remember a country whose identity was based on just that approach to life. A place where people flooded to because you could experience independance and freedom and you could start a business. It was a land of opportunity, a place where the country said bring me your poor and your downtrodden. That country was history’s most generous donor in all of world history.
Because of their generosity that country was blessed by God. It had the favour of God. As a result it prospered.
Then that country began to honour other gods and it made money a god, and sex and violence and war. It turned away from God, it took His laws out of government and it took prayer to Him out of schools.
Now that country is known for evil things like rendition and torture and killing people who are recorded as “unknown extremists”… think about it… their names arent even known.
-Suicide has now actually surpassed car accidents as the number one cause of “injury death” in the United States.
-Nearly one out of every four women in the United States are taking antidepressants.
-In 2010, the average teen in the U.S. was taking 1.2 central nervous system drugs. Those are the kinds of drugs which treat conditions such as ADHD and depression.
-Of all the major industrialized nations, America is the most obese.
-In the United States today, it is estimated that one out of every four girls is sexually abused before they become adults.
The bible says of these days that the world is in great darkness.
For behold, darkness shall cover the earth, and thick darkness the peoples – Is 60:2
I propose to you that a great rethink is needed.
A complete renewal. A re-dedication back to God.
Repentance from the past… repentance means to acknowledge fault, forgive and seek forgiveness, make reparations… and change and seek a new way forward. This is why I keep bringing up the concept of a truth and reconciliation commission.
I am no saint. My life also has sin. I also struggle. Im not living in an ivory tower of purity.
Ive tried to be open and transparent from the start on this blog. Ive been candid about my struggles with sin throughout.
I also need to change. We all do. Collectively we need to change. We are going in the wrong direction.
All of us, like sheep, have strayed away. We have left God’s paths to follow our own. – Is 53:6 NLT