Summary: An Expositional Series on the Book of James
Condemnation of the Unjust Rich
According to economist Marc Faber; The critical question over the next decade isn’t “where will my returns be highest?” but “where will I lose the least money?”
Faber states, “I think somewhere down the line we will have massive wealth destruction. That usually happens, either through: very high inflation or social unrest or war or credit-market collapse.”
“I would say that well-to-do people may lose up to 50 percent of their total wealth.”
Faber points out that this bleak outlook for the United States has been caused by Federal Reserve Chairman Ben Bernanke and the Federal Reserve’s continuous printing of new money. He says that the bailout and money printing will not create any long-lasting wealth or create healthy growth, and that the collapse will come on Bernanke’s watch.
Faber’s prophecies are troubling, but hardly as alarming as the scenario laid out by another economist: “Robert Wiedemer”
Robert Wiedemer accurately predicted the economic collapse that almost sunk the United States. In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book “America’s Bubble Economy.”
But Wiedemer’s outlook for the U.S. economy today makes Marc Faber sound like Mr. Rogers. Where Faber sees a 50 percent loss of wealth for some, Wiedemer sees much more widespread economic destruction. In a recent interview for his newest book “Aftershock,” Wiedemer says, “The data is clear,
• 50% unemployment,
• A 90% stock market drop, and
• 100% annual inflation . . . starting in 2012.”
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with,
“You see, the medicine will become the poison.”
Wiedemer calls out Bernanke, saying his “money from heaven will be the path to hell.”
It is very interesting to hear ungodly men speak like prophets. Not sure one needs to be a prophet to see the direction we are heading. But for the ungodly to see it, um . . . makes me wonder.
Pastor James, of the First Baptist Jerusalem sees the handwriting on the wall,
after all, any historian who reads the repeated ups and downs of Israel in 1 & 2 Kings and Chronicles, fully recognizes the state of man that continually brings down God’s judgment upon their wealth and happiness. There is this circular chain of events that repeats itself over and over:
When the people of a land read, accept, and live the scriptures of God, bringing honor and Glory to God, the blessings flow
When the blessings flow, the people of the land get caught up in the blessings, forget or become to busy to read God’s Word, reject His Word, no longer living the Word, but live the World, the blessings are cut off and the people humbled.