Predictions fall into two basic categories: physical and spiritual, or seen and unseen. The physical realm of cause and effect includes the economic principles we use to navigate through the muck and mire. Economic principles address supply and demand of rational human behavior given a set of circumstances with a little culture mixed in.
When a group of people create a problem, do you think that same group can solve it? Only by a new revelation can the problem be solved by the people involved. However, the people involved are not known for their revelatory abilities.
Let’s look at the economic players “of change”:
Barack Obama is a graduate of Columbia University and Harvard Law School, where he was the first African American president of the Harvard Law Review. He worked as a community organizer in Chicago prior to earning his law degree, and practiced as a civil rights attorney in Chicago before serving three terms in the Illinois Senate from 1997 to 2004. He also taught constitutional law at the University of Chicago Law School from 1992 to 2004. Following an unsuccessful bid for a seat in the U.S. House of Representatives in 2000, Obama was elected to the United States Senate in November 2004. See: http://en.wikipedia.org/wiki/Barack_Obama President Obama has no background or experience in economic or financial matters and he is the final decision maker.
Treasury Secretary Timothy F. Geithner spent six years as the President of the New York Federal Reserve, the most influential of the twelve banks. Since the founding of the Federal Reserve banking system, the Federal Reserve Bank of New York in Manhattan’s Financial District has been the place where monetary policy in the United States is implemented, although policy is decided in Washington, D.C. by the Board of Governors of the Federal Reserve System. The New York Federal reserve is the largest, in terms of assets, and the most important of the twelve regional banks. Operating in the financial capital of the U.S., the New York Fed is responsible for conducting open market operations, the buying and selling of outstanding U.S. Treasury securities. See: http://en.wikipedia.org/wiki/Federal_Reserve_Bank_of_New_York. Geithner is not new to the problem, he help create the problem.
Lawrence Henry “Larry” Summers (born November 30, 1954) is an American economist and the Director of the White House’s National Economic Council for President Barack Obama. Summers is the Charles W. Eliot University Professor at Harvard University’s Kennedy School of Government. He is the 1993 recipient of the John Bates Clark Medal for his work in several fields of economics and was Secretary of the Treasury for the last year and a half of the Bill Clinton administration. Summers also served as the 27th President of Harvard University from 2001 to 2006. Summers resigned as Harvard’s president in the wake of controversy over a talk in which he speculated that women may have lesser aptitude for work in the highest levels of math and science. Summers has been criticized by some liberals for the centrist economic policies he advocated as Treasury Secretary and in later writings.
Larry Summers is Geithner’s mentor. Mr. Summers is calling the shots for the Administration and he is not even elected or approved by Congress. Mr. Summers worked under Bill Clinton who promoted the current path of economic failure. Clinton’s Administration promoted sub-prime lending, tinkering with unemployment numbers, and other fiscal components to manage public perception of the economy. Barack Obama’s promise for change and fresh thinking is simply to re-install the players who were involved to some degree in the current economic crisis.
Obama has called on these two men who were involved in creating the problem, to solve the problem. That is not going to happen. Their level of “awareness” is at the same level of the problem. Only someone with a higher level of awareness could solve this problem. This is precisely why married couples go to a counselor after exhausting their attempts to restore their marriage. They assume the counselor has a higher level of awareness. When you are sick and are not improving after taking all of the remedies at your disposal, you finally go to a doctor expecting him or her to have a higher level of awareness in the area of health.
Larry Summers has all the accolades one can have in the area of Economics. Unfortunately, he needs something else- revelation. Revelation provides a higher level of awareness from Our Heavenly Father’s point of view. From His “point of viewing”, He knows the entire big picture and has all of the wisdom, knowledge, and understanding required to resolve this crisis. Globally, it looks as though we are quickly moving toward a Dollar Crisis. The Premier of China now wants reassurance that our government will protect China’s investment in Dollars. China is concerned about the solvency of the U.S.
As we have predicted, the credit card black hole is increasing in size and credit card companies are now reporting substantial credit card defaults. Commercial real estate is not far behind. Fannie Mae and Freddie Mac will need more cash infusions. AIG now 80% owned by the taxpayer will need more cash beyond the $180 Billion already injected. Tax receipts will shrink this year while demand for cash will increase. Several pension funds are now in trouble and will need cash infusions. California may need to file bankruptcy before the end of the year. The baby boomers will want their promised benefits and healthcare costs are climbing. The retail sector will continue to suffer a decline except in the area of “do it yourself” goods. There will be an inflection point when hyper-inflation will take over. Nobody at the current level of awareness knows where that point is or when it will occur.
I find it interesting that Americans are focused on $165 million in AIG bonuses when Washington throwing around trillion’s of taxpayer dollars hoping something will stick to the wall. Washington knows that someone needs to be the “whipping boy”.
It is clear that we as individuals must enter our prayer closets and seek Our Heavenly Father’s Face! We must prepare for the tumultuous times ahead. It will not be business as usual. So you wanted to be an Overcomer, it looks like you are going to get the opportunity to overcome!