Perspective

By L. Jim Tuck

April 11, 2024

   The Rise and Decline of the United States Not long after World War II, the United States and the British Empire boasted the highest standard of living ever enjoyed by any people since humankind inhabited this earth! Combined, the United States, Britain, Australia, Canada, and New Zealand, possessed more than two thirds of all the cultivated resources and wealth of the earth! All the other nations combined possessed less than a third! Britain could say the sun never set on her empire. She was “Great” Britain, but this claim is no longer valid. The sun long ago set on the British empire. And now the United States is spiraling downward as a world power. Why? There is a reason.

Perspective

   In the post-World War II period, the Western powers, after the defeat of Germany and Japan, were as they say, “Walking in high cotton.” The U.S ascended above all the nations on earth to become the policeman of the world.

   In ancient times, God made a promise to Abraham long before the birth of Jacob: “Get out of your country, from your family and from your father’s house, to a land that I will show you. I will make you a great nation; I will bless you and make your name great; and you shall be a blessing. I will bless those who bless you, and I will curse him who curses you; and in you all the families of the earth shall be blessed.” (Genesis 12:1-3)

   Interestingly, ascent to great power was among the blessings for obedience listed for ancient Israel in Deuteronomy 28:13: “And the Lord will make you the head and not the tail; you shall be above only, and not be beneath, if you heed the commandments of the Lord your God, which I command you today, and are careful to observe them.”

   But now our nation is in dire condition— far worse than most Americans can even realize. The economic stability of the nation is in jeopardy because of our ways. We now have a national debt of just over $ 34 trillion.

   In an April 8, 2024 Wall Street on Parade article, “For the First Time in History, the Fed Is Reporting Billions in Losses Weekly,” it is reported “…the Fed’s ongoing weekly losses have ranged from a high of $3.3 billion for the week ending Wednesday, January 31, 2024, to $1.86 billion for the most recent week ending Wednesday, April 3, 2024. American taxpayers have good reason to sit up and pay attention to the Fed’s giant and ongoing losses. That’s because when the Fed is operating in the green, as it was on an annual basis for 106 years from 1916 through 2022, the Fed, by law, turns over excess earnings to the U.S. Treasury — thus reducing the amount the U.S. government has to borrow by issuing Treasury debt securities. According to Fed data, between 2011 and 2021, the Fed’s excess earnings paid to the U.S. Treasury totaled more than $920 billion.”

An Economy in Decline

   Even so, the Congress of the United States continues to spend like drunken sailors. “Spending like drunken Sailors” is an idiom that vividly describes reckless and extravagant spending. It implies that someone is squandering money without restraint, much like a sailor on shore leave who indulges in excessive drinking and frivolous expenses.

   The U.S. Supreme Court, by a vote of 6-3, ruled that the Biden administration overstepped its authority last year when it announced that it would cancel up to $400 billion in student loans. The Biden administration had said that as many as 43 million Americans would have benefitted from the loan forgiveness program; almost half of those borrowers would have had all of their student loans forgiven. Canceling all student loan debt in the U.S. would cost approximately $1.6 trillion.

   Despite being shot down by the court, U.S. President Biden persists is promising to forgive billions of dollars in student loan debts. It is one more way to garner more support from the younger generation ahead of the 2024 presidential election; many believe it is akin to buying votes. It is just one more way we are going deeper into debt.

   When it collapses, those who will suffer are not those who are rich, but normal hard-working Americans who will have to foot the bill for much higher taxes to pay off the debt. The U.S. economy in decline places all the economies of countries in the west in jeopardy. The United States GDP was $27.37 trillion in 2023. The United States has the largest economy globally, and Canada ranks 9th at $2.326 trillion. The US share of the global market economy, which is estimated at $100.562 trillion, stands at 24% in 2019, which is down from 40% in 1960.

   How much does Canada's economy depend on the United States? This may surprise you; 65 percent of Canada's economic growth depends on trade with its neighbor. Australia’s economy has a significant relationship with the United States as well. Direct trade and investment with the U.S. contributed more than $130 billion to the Australian economy last year, equivalent to 7% of Australia’s GDP.

The Way

   The foundation of any nation grown large is family. The marriage institution and the family unit are in the process of being shredded to pieces. The morality of the western world has plummeted. There are just too many troubles that are beyond the reach of governments to solve.

   Our troubles are basically spiritual in nature. We operate either through selfishness or thinking of others, being ingoing or outgoing. Herbert Armstrong often simplified it by saying it is the way of “give” or the way of “get.” Give is the way of cooperation, serving, helping and sharing. Inevitably the way of give leads to peace, happiness, contentment, joy, and a sense of well-being.

   On the other hand, the way of get is the way of vanity, coveting, envy, jealousy, competition and strife. It produces hatred, conflict, violence and wars. This is the path this country has been on for far too long.

   Consequently, the U.S. is often demeaned by lesser powers like Iran and North Korea. Other nations have become emboldened to do the same. In many ways, we have become the laughing stock of the world for our failed foreign policies and decisions made by the U.S. Congress, Senate, and the President.

   A prime example of this is the withdrawal of the U.S. troops from Afghanistan. It was a chaotic end to America's longest war. It is a time well remembered by many Americans for its graphic images of crowds of desperate Afghans at the Kabul airport. Some chased a U.S. Air Force plane, some even hanging on as it took off — tragically falling to their deaths. As the U.S. fled the country, multiple billions of dollars in equipment for war was left behind to the Taliban. A suicide bombing killed 13 U.S. service members. It is a moment which will not soon be forgotten by our enemies, to them a show of weakness and defeat.

   The nation desperately needs to repent and change. Sadly, we likely have sped past the point of no return, past the point where there can be a bail out when a collapse comes. If our country does collapse, the entire world would experience the “Great Reset” that the elite of the world have been talking about at the World Economic Forum. It would bring on their draconian visions of a one-world government. It would facilitate what the book of Revelation warns is coming.

   Even so, we have great hope for the future, a time when our human nature of “get” is going to be changed! The whole world will eventually be transformed from the “way of get” to the “way of give,” which is the way of love. Before this can happen, because of the stubbornness of humankind, the world will be brought to the brink of destruction. Then Jesus Christ will intervene to stop the end-time madness and bring about universal peace, happiness, prosperity, and eventually salvation for all people. Now, that is truly good news!

This is my Perspective for this week.

Have a happy Sabbath and a great weekend!