(March 11, 2008) USA Today reports that home foreclosures are having a rippling effect on the U.S. economy. (Foreclosure crisis has ripple effect)
The foreclosure crisis in the U.S. is spreading to other areas of American society. According to this USA Today article:
“The mortgage foreclosure crisis has caused a drop in cities’ revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows.”
This problem along with the U.S. dollar’s value falling around the world and oil and gas prices spiraling out of control are indicators that the economy of America and possibly the whole world is in dire straits. History has shown us that America and the world have rebounded from economically tough times in the past. However, the Great Depression of the 1930s led to the rise of evil dictators who eventually led the world into a devastating World War. How far the economic indicators fall remains to be seen. The Bible does indicate that at some future point there will be economic devastation around the world that will eventually lead to the rise of a world leader who will seemingly have the answers to the world’s problems.
In Revelation 6 God’s servant John is shown some events that have worldwide effects. He sees these four horsemen who are unleashed upon the world who initiate a series of judgments upon the earth:
“5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. 7 And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see. 8 And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.” (Revelation 6:5-8)
What John saw was food staples such as wheat and barley costing a day’s wages. This would indicate that some economic calamity had occurred in the world. After this he sees death from hunger and the animals of the world. These too would be the result of an economic disaster that would cause not only humans to starve but animals also who would resort to killing people in order to eat. The rest of Revelation deals with what Christians call the Tribulation Period and the rise of the Antichrist and the devastation of the earth and its inhabitants that follows it. As I stated above, it was just such circumstances that afforded a type of Antichrist to enter into world history in the 1930s.
I believe that one day America will cease to be a superpower. The reason for this is because the Bible declares that in the future Israel will be attacked by numerous countries in and around the Middle East. (See my article on this site “Coming Invasion of Israel”) Right now America is protecting Israel from the aggression of other countries. However, if we become militarily or economically impotent then these countries will not have to fear America’s military forces and would feel they could attack Israel with impunity. Like all prophecies in the Bible, the timing of these events is in God’s domain and His alone.
