{Editors Note: Herbert Armstrong died in 1986 at the age of 96. Armstrong, and his son Garner Ted were years ahead of their time when it came to foretelling what would happen in the world. They predicted long before anyone else of the coming European Union (in 1934!) They were able to do this by reading and understanding the Bible. Armstrong ran a publication called THE PLAIN TRUTH. At its zenith, it was one of the most read magazines in the world with a subscription of some 17 million copies a month. Although our Plain Truth website has NOTHING to do with Armstrong or any Church (we are NOT a church organization) we do try and show our readers that to understand the news, one must understand God and HIS word. All the answers are there…. Here is an excerpt from a letter that is some 25 years old! How it rings true. What is the real cause of the depression (yes that it what we have!) we are in? Read on and see if the following letter doesn't speak for today!}
By Herbert W. Armstrong early 1980's
I have to tell you now that the outlook for the United States and the entire world is bleak and foreboding indeed in the years to come! Based on world news, observation and personal contacts with world leaders–based on Bible prophecy and a long life of experience, I have to tell you now that the entire world economy will be in a drastic nose dive.
Civilization itself is stricken with spiritual, moral and economic sickness UNTO ITS DEATH–THE END OF THIS WORLD!
Bible prophecy shows WHAT soon shall occur–WHY the world is now sick on its deathbed–WHY the RISING UNEMPLOYMENT, the SICK ECONOMY, the immorality, crime, violence and world evils.
I have seen much of this in 90 years of event-packed experience.
In November, 1919, I was a member of the Chicago Association of Commerce. At a regular weekly membership luncheon, the noted Boston statistician and economist, Roger Babson, was guest speaker. He astonished major bank officials and industrial leaders saying that in one year we would experience the most drastic depression our generation had known. Economic executives ridiculed. We were then in an upward trend of prosperity.
A year later Roger Babson againwas our guest speaker. He said, "The year has passed, and I am back and depression is here with me." There was no ridicule or laughter, and Babson told us why he knew, and why business and financial executives did not.
"When I want to know what the temperature in this room is going to be an hour or two from now I don't consult the thermometer on the wall. I go to the boiler room and see what is going on down there. I go to the factor that CAUSES the future temperature. You men were looking at bank clearings, retail sales, wholesale indexes, stock car loadings and trends–the thermometers on the wall." But Mr. Babson said he had learned that when 51 percent or more of the people were righteous in their dealings with one another, prosperity was just ahead. But when 51 percent or more of the people were unrighteous in their dealings, economic depression was coming.
Was Roger Babson right?