There are so many economic issues out there, one must summarize them to keep perspective:
Massive accumulation of debt at the Federal level
An ever- expanding Fed balance sheet with no realistic exit plan- Tapering Bond purchases could send the economy into a deeper contraction
The Real Estate sector has not recovered
No resolution to unfunded liabilities/entitlement programs- they are thought to be untouchable and they are growing
Record disability & food stamp recipients- the numbers are huge and growing
Record low labor force participation rate- the Affordable Care Act (Obamacare) has caused employers to cease hiring full-time employees and discouraged workers are removed from the unemployment numbers to paint a better picture
Stressed states/municipalities- expect more bankruptcies and curtailment of services, increase in fees
Five-fold increase in federal student loan debt- if you can’t get a job, go back to school. The costs have skyrocketed
A surge in margin debt- Investors are leveraging up in an attempt to generate income, the risky way.
Foreigners selling our debt at a steady pace- Foreigners have become net sellers of U.S. debt. They don’t trust us
Backwardation in the gold market- People don’t want to wait for their physical gold, they don’t trust the future ability to deliver gold
Increasing homeless population- Los Angeles has over 50,000 homeless. Other cities are seeing increases as well
Inflation is running higher than reported. Simply go out to eat and see what you are paying for the privilege. Do you remember when $3.50 gasoline was on the news?
The “morality” index is pushing to an all time low. The family structure is being redefined by Hollywood. The theme is total dysfunction. Sex, crime, lies, and deception are all themes that are now promoted to the populace. One of Denver’s biggest economic boosts is the marijuana industry. Drug stores are now on every corner. If they didn’t see the pharmaceutical business increasing, they would not spend the money in expansion. Fast food and many grocery items contain so many chemicals that our bodies are now overloaded with toxins. People living in farming communities are being exposed to pesticides that are now promoting cancer and other diseases at an alarming rate. It’s like the use of chemical weapons at a slow rate of exposure.
Our Heavenly Father designed a process for living life in a blessed manner: First get wisdom, then understanding, then knowledge, then skill. The above list is long and undistinguished because people skipped wisdom and understanding. They simply viewed knowledge and skill as the key to success. Without wisdom and understanding, you will create an environment destined to fail. Wisdom comes from Above. Understanding follows. There will be a great “reset” because these current systems in place will crumble soon. Our redemption draweth nigh!