Depression is living in a body which fights to survive with a mind that tries to die.
No one can make your feel inferior without your consent
The teeth are smiling, but is the heart?
in a communist economy, claim capitalism is the cure.
To "cure" the evils of capitalism, bring in communism.
If you want to cure dictatorships, bring in fascism.
If you want to cure fascism, bring in totalitarianism.
If you want to cure totalitarianism, bring in . . . .
and once you've come full circle, then cause depressions every seven years. The goal is to "own" all the realestate.
So many of our people are living on the very edge of their incomes. In fact, some are living on borrowings.
We have witnessed in recent weeks wide and fearsome swings in the markets of the world. The economy is a fragile thing. A stumble in the economy in Jakarta or Moscow can immediately affect the entire world. It can eventually reach down to each of us as individuals. There is a portent of stormy weather ahead to which we had better give heed.
I hope with all my heart that we shall never slip into a depression. I am a child of the Great Depression of the thirties. I finished the university in 1932, when unemployment in this area exceeded 33 percent.
My father was then president of the largest stake in the Church in this valley. It was before our present welfare program was established. He walked the floor worrying about his people. He and his associates established a great wood-chopping project designed to keep the home furnaces and stoves going and the people warm in the winter. They had no money with which to buy coal. Men who had been affluent were among those who chopped wood.
I repeat, I hope we will never again see such a depression. But I am troubled by the huge consumer installment debt which hangs over the people of the nation, including our own people. In March 1997 that debt totaled $1.2 trillion, which represented a 7 percent increase over the previous year.
In December of 1997, 55 to 60 million households in the United States carried credit card balances. These balances averaged more than $7,000 and cost $1,000 per year in interest and fees. Consumer debt as a percentage of disposable income rose from 16.3 percent in 1993 to 19.3 percent in 1996.
Everyone knows that every dollar borrowed carries with it the penalty of paying interest. When money cannot be repaid, then bankruptcy follows. There were 1,350,118 bankruptcies in the United States last year. This represented a 50 percent increase from 1992. In the second quarter of this year, nearly 362,000 persons filed for bankruptcy, a record number for a three-month period.
I share with you again a simple little insight that may help you at certain junctures in your lives. It is that you must not mistake passing local cloud cover for general darkness. They are very different things, and for us to distinguish local cloud cover, which will soon be blown away, for general darkness is a terrible thing, especially with the restored gospel, which is so full metaphorically of light. We must not be mistaken about this.
Another insight that seems to recur again and again in confirmation is that the todays of life constitute the holy present. We can't fix the past. We may be able to repent of it, but we can't change past events. We can fashion the future, and we do that by using what someone has called the holy present, which indeed it is.
Faith is not only a feeling; it is a decision.
This kind of hope is both a principle of promise as well as a commandment,6 and, as with all commandments, we have the responsibility to make it an active part of our lives and overcome the temptation to lose hope.
There may be times when we must make a courageous decision to hope even when everything around us contradicts this hope.