Torch, Spring/Summer 2009

Spring–Summer 2009 | TORCH 17 economic goods. When the U.S. economy slows down, we do not purchase as much from foreign producers. Some of these economies are very dependent on international trade. When their exports drop significantly because the United States is no longer buying their goods, the foreign economies can be hurt immensely. Our national economies are all connected through free-floating exchange rates. Economic growth and contraction is connected to the world through foreign exchange markets. Connection in the financial arena may be illustrated through the subprime mortgage market in the United States and the financial derivatives that developed from the market. Subprime mortgages were bundled and sold to investors around the globe. When a large number of these mortgages failed, the derivatives also failed, and investors around the world lost significant amounts of money. This cycle of impact indicates that we truly live in a one-world economy. How has the government prioritized which businesses or populations are in need of the greatest aid? Unfortunately, what the government has done is not what the government should do, but that is not necessarily a surprise. Congress has seemed most responsive to relatively well-defined, somewhat entrenched interests demanding to be bailed out of a difficult economy. Because of this, we will probably see lots of resources given to politically organized industries — health care, construction, education, state and local governments — and relatively few resources targeted Paul’s Second and Third Missionary Journey 2009 Unique Christian Itinerary on a Chartered Cruise Ship 10 Days in Greece and Turkey Departing from New York, November 4, 2009 “You will never read the book of Acts or Paul’s Epistles in the same way after you take this trip. God’s Word will jump off the pages as you remember the places you visited and read the words Paul spoke there.” Dr. Bob Gromacki Distinguished Professor of Bible and Greek C E D A R V I L L E U N I V E R S I T Y www.cedarville.edu/studytour Join Dr. Bill Brown and Dr. Bob Gromacki in following the footsteps of the apostle Paul.