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Depression or Hyperinflation?|
Where is it?
Q. I keep hearing all these threats that Americans will be caught in a deflationary depression or a Weimer hyperinflation. But, our taxes are about the same and so are store prices for everyday goods and gas costs for transportation. So what's the fear all about?
I don't think we are yet feeling the effects from our government printing trillions in new money, higher taxes, a shortage of gasoline or other problems in the system.
This is partially because at about the same time our government is providing bail-outs, credit and debt is also disappearing. Citizens are reneging on loans or declaring bankruptcy.
So right now the scales are somewhat balanced between money creation and disappearing debt. But, at some point in the future this will change - just like we were warned about housing plummeting back in 2003 when ordinary citizens were "flipping" properties and proclaiming it would never change.
However, I don't think Christians should be in the business of fear-mongering. Do you? "God has not given us a spirit of fear but of power and love and discipline" (2 Tim 1:7). But, that's not to say that we shouldn't prepare. We should. We need to live in a rational, balanced way.
- In a nutshell, we need to be prudent and save for our futures (Pr 6:6&21:20).
- We need to learn to be content with much less - adequate food and covering should suffice (1 Tim 6:8).
- We should all learn to avoid debt whenever possible (Pr 22:7).
- We need to be ready to share what we have with others who have need (1 Tim 6:18).
- That includes a willingness to tithe to our churches (Mal 3:10) and to share with the poor (Jas 2:15).
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