So What Happened With All That Shemitah Stuff?
Many are asking if we dodged an economic collapse that Rabbi Jonathan Cahn warned us about in his NY Times best selling book, The Shemitah. It is true that the Shemitah occurred in September, 2015. If you are like me, you may have been expecting a severe economic shaking that seems to have been avoided.
I happened to be in China during the time when it was expected that an economic collapse might begin during the Shemitah. The Chinese stock markets began to meltdown. The value of their market dropped by over 50%. The government stepped in and curtailed further damage with extreme measures to prevent a 1929 style collapse.
The US markets got nervous but then seemed to stabilize.
My perspective has not changed. The entire Global economic & financial system is now functioning under great stress. The root causes have not been addressed as the superficial symptoms are routinely treated with financial band-aids. More and more governments are taking on massive amounts of debt to prevent the pain that would be caused by a massive correction. It is politically incorrect now for governments not to intervene with more policy and bail outs. While governments work to operate around the massive piles of debt that nations have accumulated, they will not be able to sustain this practice indefinitely. Many experts are warning that the emerging nations have fragile economies, policy experts are out of options and it is a time to remain cautious. I agree with them. Don’t panic. Continue saving, paying down debt, diversify your investments. The correction is coming, but it is on God’s timing, not ours.
Originally posted on Crown.