Is this really news? I don't know about you, but this is where our family has always been. Designer clothes and new cars have never taken a front seat when it came to spending my husband's hard-earned money. Groceries and other necessities have always been our priority.
In 1991, Larry Burkett wrote a book called The Coming Economic Earthquake asserting that the overspending of the American government would eventually cause the downfall of its economy.
He wrote a follow-up article called What Happened to the Economic Earthquake in 2000 in which he recognized that the United States had managed to avert the impending crisis through a combination of governmental regulations and consumer habits.
In the conclusion of the article he offers the following sage advice for consumers.
Historically, we know that when the economy does defy logic it tends to right itself; when it is oversold, it tends to retreat; when it is undersold, it tends to advance. As such, although I still believe that this economy cannot continue at its present rate without suffering irreversible damage, I do not suggest that everyone run out and withdraw from the stock market or change all of their investments or retirement plans. My intent is to inform people of the seriousness of our national economic situation, to encourage them to become debt free (including their homes), and to inspire people to get angry enough to demand changes in our current government spending patterns. We also must seek God’s intervention and encourage others to do so. Scripture is clear about repentance bringing change. “[If] My people who are called by My name humble themselves and pray and seek My face and turn from their wicked ways, then I will hear from heaven, will forgive their sin and will heal their land” (2 Chronicles 7:14).
Although we may not be able to forecast when the forthcoming economic collapse will happen or how to protect our holdings when it happens, God knows, and we can trust His guidance! Jesus told us to seek first the kingdom of God, and God would provide for our needs (see Matthew 6:33). One of the dangers of being “financially independent” is that it often means we no longer depend on God. When our money is lost, our security is taken away. This is not God’s will for our lives. We must decide if we truly believe God is able to supply our needs or if we are just saying we believe it. We may not be able to control the world economy, but we can allow God to control our lives, and we can live our lives for His glory. That is all God asks of each of us.
This entire article and many other valuable resources are available through Crown Financial Ministries.
Larry Burkett died on July 4, 2003 after a long battle with cancer. He is not here to witness what is happening with the American economy today; however, I don't think he would be too surprised.