The coming economic earthquake | Larry Burkett

book: The coming economic earthquake | Larry Burkett

books:

The coming economi...

	The coming economic earthquake Larry Burkett Moody Press (Chicago), 1991 - 230 pages average customer review:based on 1 review
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Burkett speaks candidly on the state of the economy, how inflation affects individuals, and what can be done, personally and politically, to correct the current economic crisis.

The Prophet

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.

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