God, Mammon and the U.S. Economy

Published Monday, January 7th, 2008 in Culture & Society

The financial story of 2008 so far is the oil and gold rush on the first trading day of 2008. Oil prices crested at $100 a barrel and gold prices rose above $850 an ounce for the first time since 1980.

Recent polls show the economy has overtaken foreign relations as the number one issue of concern for American voters in the upcoming presidential election. A chorus of economic gurus, including former Fed chairman Alan Greenspan, is now warning of the financial risks of both stagflation and recession in 2008.

With real estate and many stocks slumping, the question is: What investments are actually rising and will be most likely to continue rising in 2008? What’s an investor to do?

Swiss America CEO Craig Smith says, “The old saying used to be; ‘as sound as a dollar,’ but today it’s: ‘as soft as a dollar.’ The dollar has been the leading reserve currency for more than 60 years, but never in history has the guardian of the world’s reserve currency also been the world’s biggest debtor.”

“The U.S. is suffering from a chronic debt-addiction of monumental proportion. We’ve now amassed $900 billion in bad mortgage debt, $900 billion in weak consumer credit card debt and $9 trillion in government debt, just for starters,” continues Smith.

Smith contends that the housing market bubble of the last five years has now officially popped, leaving millions of Americans living on borrowed time and money. Having forgotten the lessons of the past, we’ve borrowed from the future in order to live beyond our means in the present.

It’s good and fine to listen to the financial pundits, and Smith comes with plenty of solid credentials. But what is the Spirit of God saying about the economy in America? There is no recession in the Kingdom and faithful, tithing Kingdom people need not fear recession because God is our source. Where others see loss, we will see opportunity — if we listen to the Spirit of God.He’s the best financial counselor the world has ever known.

What is God saying to you about stewarding your finances in 2008?