The last two weeks have seen the greatest economic crisis since the Great Depression hit the United States. Large Wall Street financial firms went bankrupt and the government nationalized others. The stock market lost nearly a thousand points and gained most of it back in less than a week of trading. Panic and fear seized the markets, prompting massive government intervention.

economic crisis

What is behind this crisis? What does it mean for the future of America and its role in the world? The most vital question is, what should you be doing in these turbulent times?

It is a long and complicated trail backwards to understand the source and cause of this present crisis. Beyond the accusations and sensational charges being lobbed back and forth is a tale of unrestrained greed. One headline in the Financial Times said, "This greed was beyond irresponsible" (John Gapper, Sept. 17, 2008). Even today legislation to deal with the crisis is being held up over alarm at paying failed executives millions of dollars in severance packages. Greed, mismanagement and incompetence have combined on Wall Street to create a crisis that will likely lead to a recession.

America is still the key player in the global economy. It is the largest consumer market, and the dollar is still the world's reserve currency. Last week central banks around the world were buying and providing dollars to keep business going in their sectors. The world cannot afford to let America fail. They hold too much of its debt; they need American consumers to purchase their goods and they need the American military to defend the skies and seas, keeping the world safe from anarchy, chaos and dictatorship. Everyone loves to bash the United States, but it is presently indispensable to the world system.

America has taken a staggering economic blow, but it still stands. It will likely recover, but it may soon lose its dominance of the global economy. The world has the perception of weakness and sometimes perception translates into reality. The European Union and nations like China, India, Brazil and Russia are not going to let the global economy remain dependent on the weaknesses of America's economy. Look for these nations to work toward a solution that creates a larger and more powerful economic system.

The United States has been in relative decline for some time while other nations have been rising in economic and political significance. We are moving closer to the time described in Revelation 18 when a super economic system described as Babylon will dominate world headlines.

This is not "just another economic crisis" that we can afford to ignore while we go about our consumer-driven comfortable lives. Real changes are coming to pass that will impact the average American's standard of living and America's place in the world. America is not "just another" large empire that will one day pass from the scene like all the others in history. America, like its cousin Great Britain, has occupied its unique role in history because of the promises God made to Abraham of astounding national blessings. These have been realized in these two nations in modern times and the world has been the better for it. The decline of their blessing and influence in the world, also prophesied by God because of sin and moral failure, will change the course of all nations. For a time, it will seem better for those nations that dominate, but their heyday will be short-lived.

It is time you focused on this fact and awakened to the reality that the Great God controls the destiny of nations. This current crisis is significant and will mark a milestone in prophetic events. While we need to try to manage our finances in ways to protect ourselves and our families, the most important thing you can do is wake up to the urgency of the times and come to understand them from God's perspective.

It is time you and I examine whether we have been guilty of neglecting God and making idols of wealth, culture and people, and even ourselves, thus becoming blinded to the true God. It's easy to point the accusing finger at others for their greed. More importantly, each of us needs to take an honest look inward to see where we need to change the way we are living. I can think of nothing more important for you to do than repent and acknowledge God in your life. This is a very serious time in our generation. We will ignore it at our peril.

Read, or reread, our booklet The United States and Britain in Bible Prophecy for the complete story of why these two nations have occupied their significant role in world history. Visit our World News and Prophecy Web site at www.wnponline.org to stay up to date on news and commentary in between the print issues. And above all, pray and…

Keep watching,

Related Resources

Are We Living in a "9/10" Economy?

God Blessed America

Pride of America's Power: Approaching the Breaking Point?

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