Close Topic Options

Last Days Economy

There is a lot of discussion and disagreement about whether or not the current economy is falling apart at a rate wherein we will exceed the Great Depression.

I would like to discuss this from the perspective of LDS understanding of the Last Days, and what we expect to see happening at that time.

Now, it is my understanding that the economy will completely tank. This will be much, much worse than the Great Depression. In Germany, in the 1930's, there are stories of people rolling wheelbarrows of Deutshmarks to the store to buy bread. When they stepped outside the shop, the Marks were all over the ground, but the wheelbarrow was gone.

One of the early church leaders, Brigham Young I think, said that a cat would be more valuable than gold, as you could eat the cat.

Today's economy hasn't even begun to approach this. I am on several mailing lists about the Last Days, and a lot of people go around preaching doom and gloom about the economy. The thing is, it isn't happening. While the DOW and NASDAQ did drop, they didn't drop as low as most of these prophets of doom claimed, and it was a slow drop. The economy only actually shrunk for a few weeks, it was just slow growth. During all this time since the beginning of 2000, construction has still continued and consumer goods manufacturing has done quite well.

Machine tools manufacturing, on the other hand, has been extremely slow.

Now, the markets are coming back up. Machine tooling is recovering. And there are reports of growth rates approaching 8%.

I think that we will see a couple more years of slow, stuttering growth. About four years from now, the economy will REALLY begin to slide. Actually, I think there will be a huge national crisis, a Constitutional crisis, that will absolutely kill the market over a weekend. That will wipe out the US economy, and will pull the rest of the world down with it.

NightHawk

Economy Days Last

Interesting discussion, but I really cannot relate if the focus is more on the US economy rather than world economy, which by the way, is really what controls everything. Yes, the US has a big part and is a major contributor to the stabalization of the global dollar, but at the same time everything has become intertwined. A sudden upset in oil in the Middle East can cause oli prices to go up and down, a stock market crash in Tokyo can affect millions in the US, etc.

However, I do believe that this network of monies (especially the EU) is all in preparation for the 'great fall', afterall, what better to bring it all down when you can do it all at once?

Last Days Economy Studies Doctrine Mormon

Whoever say that doesn't have a clue about how hard the economy could be in other countries. The US economy is not even approaching such times. Everybody jumps to the malls after Thanksgiving Day and the American Society is one of the societies who consumes the most around the world. It is funny that some people are saying that compared to what you said about Brigham Young and the cat being more precious than gold.

Economy Days Last

I must admit, I don't know much about this topic, but Nighthawk, I would be interested in why you think this will happen in about 4 years?

Edited: tenaheff on 28th Nov, 2003 - 5:45pm

Economy Days Last

That is a bit complicated.

If you read about Bishop Koyle's Relief Mine, you will find that he had several revelations about when the Relief Mine (or Dream Mine) would "come in" to provide for the saints.

One of those prophecies regards a Republican president, who is killed in office, along with the VP, just before a general election. However, there are a few other things that will happen in Utah Valley before that happens. There are other dreams and visions that relate as well.

Knowing that this is NOT generally accepted as being true prophecy, I present this as my opinion. I do believe these prophecies, because they aren't about the Church, just one man's work for the Church.

NightHawk

Last Days Economy

It would be helpful if you give some background information so we can know where you are coming from. Thanks.

Last Days Economy

Nighthawk said:

I'm on a couple of those doomer lists myself One gentleman (who is not a financial advisor, just a computer geek who watches trends) says he believes in the literal 7 fat years, 7 lean years presented in the Bible. So he believes that we had 7 fat years up to the year 2000, and we are now in the middle of the 7 lean years -- meaning just the opposite of your opinion, that in about 4 years, the economy will really take off! But he's a self-proclaimed pollyanna.

AFter the stock bubble burst and interest rates dropped to amazing new lows, that was the beginning of the real estate bubble... which is just about to burst. That's pretty much the last thing propping up the U.S. economy right now. (beside the Plunge Protection Team, but that's probably another topic... or not) Machine tooling is *not* really recovering. Here's a quote from a... hm. well, he's an old-timer who remembers:
"This probably won't mean much to anyone that has never been involved in
manufacturing. Cincinnati Milacron (formerly Cincinnati Milling Machine)
is, or was, the premier manufacturer of machine tools in this country.
For over a hundred years they supplied the machinery that helped make us
the manufacturing center of the world. The new owners (a California corporation) have sold off the machinery and equipment. The huge plant that employed 10,000 at one time will be razed and a shopping mall and other developments will be built in its place. This turn of events, more than any other thing that could have happened, means that we are through as a major manufacturing nation. We will be
increasingly dependent on foreign equipment manufacturers for our machine
tools. This puts us at the mercy of foreign interests for the life-blood
of whatever manufacturing we continue to do." -- John S. Ellis

We're in trouble on a number of different fronts.

Roz

Last Days Economy Mormon Doctrine Studies

Being in automotive manufacturing, I know that all GM, Ford, and Daimler-Chrysler are all three bringing out new products, that require new facilities. This is a huge boost to the machine tools industry.

Yes, Cincinnati went down. So did Olafsson. But others are seeing new orders coming in. Not a huge thing yet, but some growth.

I don't expect that we will go back to the mid-80's or the mid-90's. In fact, if there were NOT a complete collapse, our children can look forward to enjoying a lower standard of living than we do. We, the automotive industry, really need to close a lot of plants and lay off a lot of workers.

Remember, I DO agree with you! I just think we are about three or four years away from the collapse. I could easily be wrong.

NightHawk