The Coming Economic Earthquake

I have both editions of this book, the older edition and the newer revised edition. And each time I read this book it was with trepidation. Each time I was aware that the grains of the hour glass were slipping by. This earthquake, which Larry Burkett was speaking & warning about was coming closer and closer and yet no one seemed to be listening. Larry Burkett just used common sense in writing this book: You cannot go on spending more than you earn. He warned this collapse was coming. He wasn't a prophet, he didn't know exactly when it would come, but he said it was coming. And now, his very words have come to pass just as he said would happen. And our government representatives are still not listening to him, or other reputable financial advisors. They are still spending more than anyone can afford. They are still behaving foolishly at our expense. Maybe we have the government we deserve. Get this book, read this book, apply the principles set forth in this book, take care of your finances and forget the government. They are only out for themselves. They are after all residing in Washington D.oesn't C.are

I remember reading this back when it first came out and I'm glad I did. I learned the necessity of living within one's means and staying out of debt the best one could. Now it's 2009 and we all know he was right. Our house of cards has come crashing down and we all suffer the results which will last for a long long time. Thankfully I listened and have paid off my last big debt which was my car. Now I'm for all practical purposes debt free with ample savings to live comfortably when I retire. Thanks Mr. Burkett from one very grateful reader so long ago.

This is truly a GREAT book that my son-in-law recommended I check out. I decided to buy one so I could read again and share.

Written in 1991, and just analyzing the US economy based on its accumulation of debt, Burkett makes some startling predictions, including a fictional chapter of what might happen that reads like the headlines of October 2008. With government spending out of control, even more promised spending on the way, and a people that now expects entitlements - the collapse has to be near. There simply isn't enough money in the WORLD to keep propping up the US debt. The parallels with 1930s Germany and 1970s Argentina should wake up folks to the disastrous effects of runaway debt, both personal and national. As a Christian, though, Burkett makes sure to point out that all these difficulties are really just symptoms of the greater root problem: the nation has turned from God.

Burkett delineated growing federal deficits and the ever increasing use of debt by business and households out of control. Burkett points out those severe economic times will appear sometime shortly after the millennium unless current polices are changed. Burkett believed that Keynesian economic policies, with ideals for continuing federal deficits and the implicit preference for higher levels of consumption, reduced saving, and a larger role for government in the economy are a means to disaster. As Burkett states in the book that as interest on the debt consumes a larger and larger portion of the yearly federal budget, and more money is borrowed each year to pay the interest on what was borrowed in previous years, there will be a temptation to "monetize" the debt at an increasing rate leading to a calamity not seen since the Great Depression. Burkett questioned whether or not elected leaders would take action in time to prevent fiscal chaos, and believed they would not.