Chuck Smith warns about the national peril that arises from forgetting God, especially during times of prosperity. He emphasizes that while people often fear external threats, the true danger lies in the complacency that comes with abundance, leading to misplaced trust in wealth and personal achievements. Smith highlights the importance of recognizing God's role in our success and warns against the temptation to credit ourselves for our prosperity. He calls for a return to acknowledging God in all aspects of life, especially as society increasingly strays from biblical values.