Was Roger Babson Right?
By Herbert
W. Armstrong
January 20, 1983
Dear Brethren and Co-Workers with Christ:
I have to tell you now that the outlook for the
United States and the entire world is bleak and foreboding indeed! 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 is in a drastic nose dive.
Civilization itself is stricken with spiritual,
moral and economic sickness UNTO ITS DEATH--THE END OF THIS WORLD!
But there is also GOOD NEWS! There is GOOD NEWS
for the Work of God--the best ever! And the BIG good news (the word gospel
means "good news") is the new civilization-
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 again was 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?
In January, 1914, I was in the editorial
department of a national magazine--the nation's largest trade journal. I was
assigned to cover the story of the very beginning of the conveyer-belt
assembly-line mass-production system at the Ford Motor Company plant in
Detroit. Ford initiated this system of mass machine production. At that time only
the U.S. provided a mass market for such mass production.
Soon other auto companies followed suit, and then
virtually all American production in other lines. This swelled profits
enormously for capital and management. But labor unionism immediately engaged
in a crusade of strikes to raise wages. Also labor leaders adopted the false
philosophy of "GET" instead of cooperation and sharing. Labor union
wars ensued, like the Herrin, Illinois, coal mine massacre, in which more than
20 were murdered and many injured. Labor turned to the attitude that the
employer was the enemy--slow down your work, give as little as you can get away
with, then fight with the weapon of the strike to increase wages and lower
hours of work.
Result? The quality of industrial production
diminished.
Meanwhile a burgeoning affluent middle class--also
motivated by the way of "get"--developed in the United States. Before
World War II the United States had mounted to a position of wealth and power
such as no nation ever possessed.
God had blessed us with the natural resources.
Selfishness and greed on the part of both management and labor temporarily
increased our prosperity. But those very evils are now bringing this country
DOWN!
As late as 1969, the American wage was three times
that of England and four times that of Japan.
Meanwhile, the Common Market (EEC) in Europe gave
that continent a mass market for mass machine production--
In 1970 Prime Minister Sato of Japan told me he
foresaw and feared a real trade war with the U.S., and hoped it would not
happen. It is HERE! Japan has figuratively bombed and almost destroyed Detroit.
I am leaving Monday on a Far East trip, and expect to discuss this situation
with Prime Minister Nakasone in Tokyo. He just departed from talks with
President Reagan in Washington yesterday--apparent
Again, was Roger Babson right?
What does your BIBLE say? What does GOD say?
Actually applying to our nation, God says,
Deuteronomy 28:1, "IF thou shalt hearken diligently unto the voice of the
Eternal thy God, to observe and to do all his commandments ... the Eternal thy
God will set thee on high ABOVE all nations of the earth." In Deuteronomy
4:40: "Thou shalt keep therefore ... his commandments ... that it MAY GO
WELL WITH THEE .... "
In many scriptures God tells us he prospers those
whose ways please him. But our people as a nation have not obeyed God. The
whole world has been founded and built on the philosophies and ways of life of
Satan, not of God. This has been SATAN'S WORLD--not God's. But the CHURCH OF
GOD IS God's world in embryo--begotten but not yet born. We are
called--drafted-
When THIS WORK pleases him, he prospers it. He has
been getting us back on the track. We have just closed a RECORD-BREAKING year.
The world has NOT lived God's way. Now the final
result of the selfish way of living is converging on the whole world in its
final climax at the END of this world.
But God is blessing his Church. We suffer because
of the sins of the world among which we must live. But unemployment is not as
high among our members--God does bless the commandment keeper and tithe payer.
1982 was the most successful year by far in the
history of this Work. The PLAIN TRUTH circulation took a big leap ahead--now
well over five million copies a month. There was a BIG increase in number of TV
stations. A big increase in people asking for counsel about baptism.
PRAY for continued success in the Work. Remember,
whatsoever we ask, we receive from him because we keep his commandments and do
those things that are pleasing in his sight. Pray for me, even as I do for you.
Pray for the continued economic stability and financial needs for God's Work.
With much love, in Jesus' name,
