How To Survive Hard Economic Times
Our nation is
on a collision course with financial calamity.
America’s national debt is at
historic high levels, and we are running deficits that cannot be
maintained without eventually bankrupting our nation. The
question at hand is how we can survive the economic hardship
that would result from a default scenario.
probably first explain why Terry and I believe that a "Great
Depression" scenario is unlikely to occur just ahead of the
Rapture. Here is a condensed version of an email we sent out
earlier this week:
Jesus was talking about the Rapture climate in Luke 17:26-29.He
used the "days of Noah and days of Lot" to prophesy the time of His coming again. He listed
conditions at the time of that coming. People will be building,
marrying, and planting--it will be business pretty much as usual
for the times. Those times will, of course, be wicked--much like
the mockers and violence of Noah's day leading up to the Flood
and the homosexuality and violence leading up to
not have been Jesus talking about the end of the Tribulation
period. At the end of that will be the most horrendous time in
history, according to Jesus (Matthew 24:21-22). At that time, as
many as two-thirds of the world's population will have died in
God's wrath and judgment. Yet the people in this Luke account
are building, marrying, etc., when He suddenly returns and
If there were
such great economic cataclysm as to completely throw the world
into great chaos--as would occur with the U.S. and all of
the world's economies collapsing--there would not be a time such
as described by Jesus in His prophecy. People would not be
building, marrying, planting, and harvesting. They would be
starving, and things would not be going along pretty much as
normal, which are described as conditions in Jesus' Luke 17:
could be the pin that pops the economic bubble. The great
destruction will then begin. God's wrath and judgment will
follow as Antichrist and his global reorganization of things
come onto the scene.
preventing us from going through a deep recession. The
Tribulation hour does seem to be very near, but since a train of
economic despair is rapidly heading our way, we can't ignore
reality. We may find ourselves having to endure a brief period
of profound financial adjustment.
sign of problems is not the government defaulting on its massive
debt. We owe trillions of dollars to the rest of the world, but
the Chinese aren’t going to come and foreclose on the Statue of
Liberty. Uncle Sam has the power of the printing press to
service its debt. The U.S. Treasury can print all the money it
needs to continue to fund our government’s operations.
point is when buyers lose faith in the dollar and in Treasury
bills and T-bonds. As confidence falls, inflation and interest
rates will begin to climb. The drop in the value of the dollar
would be the most painful. In a currency crisis, things like
Social Security checks, bank CDs, Treasury bonds, and insurance
annuities all become worthless. To help you survive hard times,
there are five core things you need to focus on:
Change Your Priorities
thing you need to do to prepare for hard times is change your
priorities. In an economic downturn, our concern needs to switch
from luxuries to core needs like food and shelter. We have
become extremely spoiled by a host of modern conveniences. In an
economic downturn, some of these things will have to be given
up. Yes, it is possible to go on living without your cell phone.
In 2008, I
read the sad story of a wealthy man who had everything and threw
it all away. Adolf Merckle, the owner of a holding company in
Europe, committed suicide when his firm lost
billions of dollars in bad transactions. This guy went from
being worth over $10 billion to just $1.6 billion. Of course,
most people would have been thrilled to switch places with him.
Merckle took his life because he couldn't cope with the need to
downsize his lifestyle.
Debt is a
very seductive concept. Though the magic of credit, you can have
everything you want right now. The price of instant
gratification is that you become a slave to creditors and you
put your financial health at risk. Debt is the first step on the
slippery slope to monetary annihilation. When economic hardship
comes, people who are heavily into debt are always the first to
If you can
pay off any debt that you may have, that will do a lot towards
improving your financial situation. By reducing the amount of
minimum payments you have to make each month, you will be better
prepared to handle a job loss or a financial emergency.
Preserve the Value of Your Money
If we should
go into a period of hyper-inflation, it is very important to
preserve the value of your money. Inflation is a very simple
economic process, but few people understand how it robs them of
been many times in history when hyper-inflation has destroyed
the value of currency. France alone has had run-away
inflation on at least a dozen occasions. One of the most famous
examples of hyper-inflation occurred in post-World War I
Germany. Here is a chart that shows the number of marks needed
to buy one ounce of gold:
silver are good tools to hold the buying power of money. Because
the government cannot produce gold or silver, it’s not going to
decline in value. I prefer silver because you can sell silver
coins as you need the cash. You have to be very careful about
where you buy silver coins. Many precious metal dealers charge
huge mark-ups or offer products that have no real value. Never
buy anything from a TV ad or purchase items labeled "replica,"
"clad," or "proof."
cities have coin dealers. You want to always buy from a business
that sells high volumes of coins. You should never purchase them
from a pawn shop or flea market. A good online company is
Apmex.com. They have some of the best prices on gold and silver.
Producing Your Own Food
of financial misfortune, the supply chain for food may become
strained. As we switch from a steak-and-lobster economy to a
beans-and-rice economy, filling one's belly will be a daily top
priority. Because most provisions have a limited shelf life,
it's good to be able to produce your own food. This may seem
odd, but raising chickens is an excellent source of nourishment.
Because most people don't live on farms, or they have limited
space to grow food, a small-scale poultry operation is a great
way to feed your own family and provide local food to others.
Chickens provide eggs every day, offering a concentrated amount
of nutrition and essential fats. When the time comes, you can
order hatchlings by mail and raise them on corn meal and the
bugs that live in your yard.
might initially be uneasy about the idea of eating chickens they
raised by hand. Trust me, if you get hungry enough, more
standard pets like Snowball and Lassie might well seem
Jesus Is Our Deliverer
recommend going hog wild by building a fortified compound in the
backwoods. Nothing in the Bible says we should become recluses.
Our hope is not in how much precious metal we have stashed away,
in how well we can shoot a gun, or in our ability to process a
deer carcass. Our trust should be in Jesus Christ, the One who
has promised to deliver us from this doomed world.
Father’s house are many mansions: if it were not so, I would
have told you. I go to prepare a place for you. And if I go and
prepare a place for you, I will come again, and receive you unto
myself; that where I am, there ye may be also” (John 14:2-3).
“For I reckon that the sufferings of this present time are not
worthy to be compared with the glory which shall be revealed in
us” (Romans 8:18).