A Coming Economic Earthquake Part 1
Does our economy make you uneasy?
Crown’s founder, the late Larry Burkett wrote The Coming Economic Earthquake, in 1991. He covered economic history, violations of Biblical financial principles, and the plausible scenario for what could happen to the debt-fueled American economy. Now we’ve survived a number of economic challenges since then and Larry was labeled an alarmist. Many discredited his thesis altogether. Today, however, his words are eerily appropriate. Larry said, “Once the limit to which foreign investors will fund the U.S. debt is reached, a monetary crisis is not far off.” He also said, “Government will monetize their debt…the printing of money to pay the government’s bills will be one of the last, and certainly the most desperate, measures because of the potential severity of the consequences.” End quote.
Larry predicted a banking crisis by saying, “In a bad economy with unemployment exceeding 10 percent or more, many of the normally sound loans will default. This crack in the economy will be highly publicized because it will swallow up hundreds of banks, large and small, and will require a trillion dollars or more of government subsidies. Once again, the same question surfaces, where will the funds come from at a time when the economy is flagging and the government’s income is declining? New taxes, more loans, or printed money? Take your pick.” End quote. Now God will not be mocked. We know a major correction is coming…we just don’t know when.
If your credit card debt is an economic nightmare, let Christian Credit Counselors help you. They can create a debt management plan specifically for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.