SermonIndex Audio Sermons
Image Map
Discussion Forum : General Topics : E.C.R.I DECLARES a RECESSION by Andrew Strom

Print Thread (PDF)


Joined: 2002/12/11
Posts: 37103
"Pilgrim and Sojourner." - 1 Peter 2:11


On Friday the Economic Cycle Research Institute declared a
recession as beginning in the USA. This caused quite a stir in
financial circles, since for 25 years the ECRI has never made a
wrong call in these matters.

This follows on from a 3-month wave of selling in the Stockmarket
that has seen stocks worldwide suffer their worst quarter since the
collapse of 2008-2009.

Extracts from the ECRI release are below:
"Early last week, ECRI notified clients that the U.S. economy is
indeed tipping into a new recession. And there’s nothing that policy
makers can do to head it off.

"ECRI’s recession call isn’t based on just one or two leading
indexes, but on dozens of specialized leading indexes.

"A new recession isn’t simply a statistical event. It’s a vicious cycle
that, once started, must run its course. Under certain circumstances,
a drop in sales, for instance, lowers production, which results in
declining employment and income, which in turn weakens sales
further, all the while spreading like wildfire from industry to industry,
region to region, and indicator to indicator. That’s what a recession
is all about.

"It’s important to understand that recession doesn’t mean a bad
economy – we’ve had that for years now. It means an economy
that keeps worsening, because it’s locked into a vicious cycle. It
means that the jobless rate, already above 9%, will go much higher,
and the federal budget deficit, already above a trillion dollars, will soar.

"Here’s what ECRI’s recession call really says: if you think this is
a bad economy, you haven’t seen anything yet. And that has
profound implications for both Main Street and Wall Street."

It is very rare for ECRI to make a call this strong and this definite.
That is why economists sit up and take real note when they do so.
ECRI is the most respected organization in their field, and they
lay their reputation on the line in making it. But for praying people
who have been preparing their hearts for this very time, there should
be nothing to fear in these events - since they have been clearly
prophesied beforehand. Spiritually speaking, for those who are
prepared, I believe this can be a time of great growth and opportunity.

But what are you seeing, my friends? Have those of you who live in
the USA noticed a renewed sluggishness or downturn in the last
month or two? We would be interested to hear your insights.

SI Moderator - Greg Gordon

 2011/10/3 8:00Profile

 Re: E.C.R.I DECLARES a RECESSION by Andrew Strom

Yes, I saw the video on that yesterday. It was on the internet somewhere. To be honest, I think things haven't changed since the great recession started in Dec/2007. And I live in TX where there are suppossed to have been more jobs created. It sure doesn't feel like it. Companies are as picky as ever about who they hire. I go around and look for jobs and I see signs on the front door that say, "Sorry, we are not hiring at this time". The recession in the U.S. has really been going on for nearly 4 years, and I don't think it is going to get any better anytime soon. I don't think you can do worse by going to Canada. Just be warned that Vancouver is a VERY expensive place. All the best to you. Married is the way to go!!!

 2011/10/3 17:25

Joined: 2003/5/8
Posts: 4419
Charlotte, NC


As I've been saying: You can't have a double-dip recession when you never got out of the first dip to begin with.

Jimmy H

 2011/10/3 18:04Profile

Joined: 2007/8/22
Posts: 116

 Re: E.C.R.I DECLARES a RECESSION by Andrew Strom

I am a contractor in Indiana. Last year I had two guys full time. This year I'm on my own. I've done half as much this year as last year. More and more customers try to get out of final payment. I have taken a high 4000 dollar hit so far.
I was in the midst of the last 1000 dollar loss when I realized I was making the jobs my source. I am learning in this time of financial trial to really rely on the Lord. He is teaching me in this (not to mention divorce on top of all that) and isn't that what its all about. To conform me to His image


 2011/10/3 21:29Profile


Hang in there Enochh. I know it can sure hit all at once. I've gone through the most unbelievably difficult trial the last 18 months of my life, and it isn't over yet. I've heard stories about a lot of other Christians going through difficult times. And, I hate to say this, but things are going to get even tighter next year. I honestly don't think we've hit bottom yet. That is a very good word brother about trusting the Lord. I've come to the place where there is no other choice.

 2011/10/4 0:35

Promoting Genuine Biblical Revival.
Privacy Policy