World News and Trends: Ill effects of apparent recession afflict Americans
Americans are now facing some of the hardest economic times in this generation's history. How can you improve your personal finances?
It's ironic that while China and India are enjoying greater economic prosperity than ever before, the United States is suffering the ill effects of what increasingly appears to be an economic recession. A London Independent reporter on site in New York City wrote: "Emblematic of the [American] downturn until now has been the parade of houses seized in foreclosure all across the country, and myriad families separated from their homes" (April 1, 2008).
The situation in Denver, Colorado, is a case in point. Notice a USA Today cover story: "Foreclosures are ripping through the row of new homes in the flatlands where Denver turns prairie. Every week 10 more families here need to find someplace else to live . . . For hundreds of homeowners in this mostly middle-class corner of Denver—and an estimated 1.2 million more nationwide—the wave of foreclosures battering U.S. financial markets is quickly unraveling the American dream" (April 2, 2008, emphasis added throughout).
But The Independent focused on yet another symbol of the economic downturn: "Getting food on the table is a challenge many Americans are finding harder to meet. As a barometer of the country's health, food stamp usage may not be perfect, but can certainly tell a story."
Earlier the same article had stated: "Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on food stamps to survive— a sure sign that the world's richest country faces economic crisis."
The growing use of credit cards just to stay afloat financially is yet a third aspect of the economic anxiety now afflicting the nation. Increasingly the payment of plastic credit now comes before paying the monthly mortgage bill. Credit counselor Ann Estes stated: "We've never seen anything like this . . . Their homes are at risk, and they know it. But people say, 'I don't want to let my credit cards go because that's my cash flow'" (USA Today, Feb. 29, 2008).
Is the media using hyperbole for effect? Possibly, and perhaps probably. Nonetheless, most Americans know that the country has a serious economic problem on its hands. If you would like to improve your own financial profile and reduce your debts should serious money challenges come your way, request or download our free booklet Managing Your Finances. (Sources: The Independent [ London], USA Today.)
An Article from:
Good News Magazine: May - June 2008
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Jerold Aust
Jerold Aust has served in the ministry for 52 years, as a public speaker for 58 years, a published writer for 38 years, and is employed by UCG’s Media and Communications Services. He is a Senior Writer, interviewer, and editor for Beyond Today Magazine and has taught Speech Communication for UCG’s ministerial online program and the Book of Revelation for ABC.
Jerold holds a BA in theology from Ambassador College, Pasadena (1968), an MA in Communication from California State University, Fullerton (1995), a distance-learning Ph.D (2006), and a Famous Writers School diploma in non-fiction writing (1973). Additionally, he studied post-grad communication at University of Southern California (1995), radio, TV, voice-overs, and Public Relations at Fullerton College (1995-1996), and graduate communication at Wichita State University (1978). Jerold has taught communication at the University of South Alabama (7 years) and ABC (17 years). His published works include, Ronald Reagan’s Rhetoric: Metaphor as Persuasion and EZSpeakers: Public Speaking Made Easy in 7 Steps. Jerold's overarching goal is to share with humankind its incredible destiny!
John Ross Schroeder
John died on March 8, 2014, in Oxford, England, four days after suffering cardiac arrest while returning home from a press event in London. John was 77 and still going strong.
Some of John's work for The Good News appeared under his byline, but much didn't. He wrote more than a thousand articles over the years, but also wrote the Questions and Answers section of the magazine, compiled our Letters From Our Readers, and wrote many of the items in the Current Events and Trends section. He also contributed greatly to a number of our study guides and Bible Study Course lessons. His writing has touched the lives of literally millions of people over the years.
John traveled widely over the years as an accredited journalist, especially in Europe. His knowledge of European and Middle East history added a great deal to his articles on history and Bible prophecy.
In his later years he also pastored congregations in Northern Ireland and East Sussex, and that experience added another dimension to his writing. He and his wife Jan were an effective team in our British Isles office near their home.
John was a humble servant who dedicated his life to sharing the gospel—the good news—of Jesus Christ and the Kingdom of God to all the world, and his work was known to readers in nearly every country of the world.
