Q. What do you think of Dave Ramsey and other financial advisors like him for advice in this market? He and a few others seem like financial “gurus” to me. Should we invest for the long haul, stay away from precious metals, and do other conventional things like these?
Answer:
Dave Ramsey seems like a good, decent man who has written sound, logical advice for normal markets and ordinary folks. He has a Bachelor of Science degree in Finance and Real Estate from the University of Tennessee.
However, we are not in a “normal” market. This worldwide market is in a struggle for survival. There is no guarantee that fiat currencies will come through this “whole.” Instead, we could see currency collapses, bank holidays, and market crashes. Does that sound normal to you?
A Black Horse
Perhaps Christians should begin studying the “Black Horse” from the book of Revelation. Chuck Missler’s tape, “Behold: A Black Horse” is a good place to start (khouse.org).
In Missler’s study we learn about deadly inflation and worldwide famine coming upon the world in the latter days. All of the pieces are falling into place for a rugged, difficult end-times scenario. In fact, I suspect we may be entering that timeframe now.
Listen to Normal Financial Planners Later
At any rate, this doesn’t seem like a normal market to me. So, in this climate I would rather look to history to see what may come of our stock and real estate markets. I would rather listen to those who have advanced economics degrees. Save the financial planners for another time.
Study Financial Panics
We have suffered financial panics before in United States history. Between the years 1873 to 1896 we had a twenty-three year global depression. In 1907 we had a number of bank failures. During the Great Depression our country suffered for more than ten years as stocks, banks, and real estate plummeted.
Do Listen to Educated Economic Experts
We suggest our readers become educated about what is going on. Go to the library and start studying. Two good books to begin reading are: Laurence Kotlikoff’s The Coming Generational Storm and Peter G. Peterson’s book, Running on Empty. Become informed and take prudent action.
Remember Our God
Remember to pray about everything but worry about nothing – God will give us the ability to work for our futures (Deut. 8:18) and will supply our needs in these difficult times(Philippians 4:6, 19).