World News and Trends

Debt dysfunction in the Western world
Studying the bible?

Sign up to add this to your study list.

Course Content

It becomes a matter of more than just passing interest that our present plight would be described in biblical terms by the chairman and executive chairman of a popular American newsweekly with an international edition!

A special edition of Newsweek titled "Issues 2011" recently reported: "As the world enters 2011, we are adapting to the new reality of the post-crisis era. At its roots, the crisis was a symptom of a broader dysfunction in our global, political, economic and social order. We are now paying, and continuing to pay, for the sins of the past" ("To Our Readers," December 2010–February 2011).

It becomes a matter of more than just passing interest that our present plight would be described in biblical terms by the chairman and executive chairman of a popular American newsweekly with an international edition!

According to the Bible, sin is the violation of God's law (1 John 3:4). And sooner or later, transgressing God's law exacts an inevitable penalty. Even nations end up paying that penalty, and until the penalty is paid it remains as an outstanding debt to justice. The New Testament sometimes speaks of sin in terms of debt. Jesus instructed us to pray, "And forgive us our debts" (Matthew 6:12).

This Newsweek preface goes on to depict some of our specific economic sins: "Governments have assumed massive debts to save the global financial system from total collapse. As a result, countries are now grappling with higher taxes, severe reductions in public goods and services, and dwindling investments in education and infrastructure. Public disillusionment in business and political leadership is dangerously high. Because of our continued tendency to put off problem resolution, to the detriment of our children and grandchildren, we may yet trigger a deep social and generational crisis. All these are the defining features of our new reality."

The Bible simply says, "For the children ought not to lay up for the parents, but the parents for the children" (2 Corinthians 12:14). James Hoge, Jr., the now retired editor of Foreign Affairs, frankly stated: "The United States' influence, diminished by the rise of other states and nonstate actors, will be fatally undercut if the country does not curb its unsustainable reliance on debt" (Oct. 26, 2010).

If you would like help in coping with any personal debt difficulties, read our free booklet Managing Your Finances. (Sources: Newsweek, Foreign Affairs.)

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 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. 

 

Related Articles

America's debt load is staggering and growing worse by the minute. How did the nation that was the world's biggest...
With no signs of the economy improving anytime soon, gold prices are soaring—and many are looking to precious metals to...
There are times when households reach the end of their financial resources and have to declare bankruptcy. Their income cannot...
The late French President Charles de Gaulle once dismissed the United States and Britain as "the Anglo-Saxon debtor nations." Four...