As soon as Wall Street began its' New Year on Monday, January 4, the market fell about 450 points due to fears that stemmed from economic troubles in China. This opening day market loss cost the world's five richest people to lose 8.7 billion dollars of net worth in one day. The markets eventually "settled down," but the rapid rise and fall of the Stock Market in a day shows the vulnerability we are facing right now as we head into a New Year. Few seem to remember the most famous crash of the markets on October 29, 1929... known as "Black Tuesday" that triggered what is referred to as the Great Depression. Sadly, we are moving toward the same sort of economic unwinding of the country and few seem to have a clue and even fewer are doing much about it.
And while this economic decline of the country and world is fast approaching, the denial of its eventual arrival by our leadership is stupefying to say the least. Our Congress just finished passing a budget busting spending bill at the end of 2015 that seemed to show no awareness of the exploding National Debt that is approaching 20 trillion dollars. Couple this out of control spending with over 100 trillion dollars of unfunded liabilities from our entitlement programs such as Medicare and Social Security, along with pension issues, and you have the making of a true financial reshaping of America as we know it.
When America's day of financial reckoning finally arrives in the near future, the thing that will trigger it is not Wall Street or the Stock Market.......it will be the Govenment. That will happen when the U.S. Dollar loses its coveted place as the World's Reserve Currency. Right now, all the major currencies in the world are tied to the U.S. Dollar. When the world finally decides that the Dollar isn't worth much because of the Nation's profligate spending and debt, people will leave the U.S. Dollar and go elsewhere. When that happens the value of the Dollar will plummet, leading to a dramatic devaluation of the currency and a price fall of everything priced in dollars from houses and cars to everything we buy and sell. We can only speculate what will happen to us when this day of accounting finally arrives. Of one thing we can be sure, America will never be the same again.
Sadly, when such things happen, it always seems that there is a "savior" nearby, ready to "help." That surely was the case for America during the Great Depression. As the Depression's impact grew, Americans became desperate and elected Franklin Roosevelt as President in the election of 1932 over then President Herbert Hoover. Roosevelt came to office and promised everyone a "New Deal" that would transform the country..... And it did. What people didn't see then or now is what happens when you give the government power to "save you." That same power can also turn into tyranny. The hardest lessons of that period are yet to come for America and the world.
The real place where people got to see how the government could become a tyrant during economic chaos was not primarily seen in America, but in Nazi Germany. You see America's economic fall in 1929 had given rise to a global depression around the world and in Germany. The collapse of the German economy had given rise to Adolf Hitler in Germany in 1932. Hitler was appointed Chancellor of Germany by then President Hindenburg, after their collapsing economy created the need for a German "savior." How amazing that both America and Germany found a "savior" within months of each other. Both "saviors" would eventually meet in a World War and change the history of the world by bringing back the Nation of Israel in 1948, the greatest miracle of redemptive history since the resurrection of the Lord Jesus Christ.
All of the future events coming our way are really about another Savior.....a Real One. The Lord Jesus Himself put together an amazing, complex plan involving debt and borrowing. The Lord created economics and debt to teach the world about sin and His redeeming love for the world in the Cross. Many forget the petition in the "Lord's Prayer" that says, "Forgive us our debts, as we forgive our debtors" (Matthew 6:12). Our Lord taught us that sin is connected to a debt, an obligation that needs to be paid to God....not Man. When a society reaches a place where its sin and ungodly behavior reaches a certain point, it will be reflected in their economic dealings. You see that exact principle operating today in America and around the world. Just as the amount of sins and immorality seem to be exploding around us, America and the world are nearing a global financial collapse.
The same Lord that used debt to teach us about sin also wants to teach us about grace, love and forgiveness of those same debts and sins. The Lord wrote an entire chapter of the Bible about it in Leviticus 25 that established the "Jubilee Year" every 50th year to cancel all debts and give everyone a new beginning. How amazing then that the Lord Jesus Christ proclaimed the Jubilee had begun with His ministry in Luke 4:17-21. How equally amazing that our Lord's last words on the Cross in John 19:30 were that our debts were "finished" or "paid in full" in the Greek. Our Lord truly is the Jubilee we all desperately need today.
It seems that few of our political leaders will ever understand how our exploding debt and coming economic crisis point to the need for a Real Savior. May every believer see the prophetic issues unfolding before our eyes and run into the arms of the Lord Jesus Christ and share Him with everyone we can in this dramatic hour.