Monday, December 18, 2017
   
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No Global Jubilee

The Global Financial Crisis (GFC) of the past few years has ravaged many households. Millions are living in dire conditions not dissimilar to those experienced in the time of the 1930s Great Depression. Over 42 million American households today rely upon food stamps.1 That is an increase of 44% since the start of the GFC (considered to be early September 2008 when the firm of Lehman Brothers collapsed). One of the busiest times of the month for Wal-mart is now early in the morning on the first day of the month, when the food stamp cards are transactionable.

The GFC is not over; it is still morphing through various stages. Lately, financial troubles are ripping through parts of Europe. Much more trouble surely lies ahead elsewhere. The GFC indeed could represent a preliminary phase of the global economic travails that ultimately manifest in the final economic collapses detailed in the book of Revelation. However, events can unfold in unexpected and deceitful ways.

A deceptive aspect of the times is that even as many more people have fallen into difficult circumstance, perhaps losing all or a considerable part of their savings in the real estate crash, the wealthy seem to be doing fine. Yes, many wealthy people also suffered loss throughout the GFC. However, as a group, they nevertheless today account for a greater share of national wealth than likely ever before in America’s history.

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