Global Economic Collapse

Do I have your attention? Good. George Soros holds the world record for making the most money in a single day’s trading. He made a one billion dollar profit betting against the British Pound and broke the Bank of England a number of years ago. He is a high stakes economic investor. Soros doesn’t make small bets on anything. And he has invested billions of dollars promoting political/leftist causes.

 So what is Soros betting on now? Chaos! At the World Economic Forum last week in Davos, Switzerland Mr. Soros predicted a global economic collapse and he’s not sure what to do about it. In light of the economic crisis in Europe Soros said “The euro must survive because the alternative—a break up—would cause a meltdown that Europe, the world can’t afford.” Soros has bought up $2 Billion in European bonds, mainly Italian, from MF Global Holdings Ltd to try and stabilize the European economy. But MF Global was run by former New Jersey Governor and Goldman Sachs head Jon Corzine who testified before congress recently that he doesn’t know where 1.2 billion dollars are that have gone missing from his firm. Anyone scared yet?

 Mr. Soros said that the world is heading into one of the most dangerous periods in modern history—a time of “evil.” “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression…The worst case scenario is a collapse of the financial system.” He is warning that riots in the streets of major cities and worldwide class warfare might be inevitable unless the problems of unemployment and national debts are addressed.

 When asked if there would be riots in the US, he said, “Yes, yes, yes. It will be an excuse for cracking down and using strong arm tactics to maintain law and order which, carried to an extreme could bring about a repressive political system, a society where individual liberty is much more constrained.”* But Soros is hopeful that the central bankers and prime ministers and other government officials meeting in Davos can fix what’s wrong and prove him wrong.

 Could the collapse and riots happen? Anything is possible. Soros is rarely wrong when it comes to economics. But no one can absolutely predict the future. So what should you do? Fear Not. Trust God. Pray. And be prepared. Make preparations for yourself and your family. I mentioned this last year but I’ll say it again, because it’s a good idea even for natural disasters. Try storing up some food for emergencies, not only for yourself and your family but to help those in need. Put some money aside if you can for the proverbial rainy day. If you know someone who needs a job help that person try and find work. And most important of all make the time to share the love of God and the Word of God with other people.

 Many years ago King David sang “The LORD is my shepherd; I shall not want (Psalm 23:1).” And the apostle Paul wrote “And my God shall supply all your need according to His riches in glory by Christ Jesus (Philippians 4:19).” Unlike Soros, God really does know the future. He said “For I am God, and there is no other; I am God, and there is none like Me,  Declaring the end from the beginning,  And from ancient times things that are not yet done,  Saying, ‘My counsel shall stand, And I will do all My pleasure (Isaiah 40:9, 10).” Put your trust for the future in Him.

 *All quotes are from The London Telegraph and The London Daily Mail.