Posts Tagged ‘market economy’
The Economy of the Jubilee- A Trilogy Links Ancient Economic Cycles to the K-Wave
I have included below material from biblical scholar Daniel Gregg that is the most incise and compelling composition I’ve seen yet linking the Biblical Jubilee to the Kondratieff Cycle. It was published by Gregg in the spring of 2007 on the eve of the global financial crisis and our readers can access his entire book online for free at www.torahtimes.org.
The three selections below frame the incredible parallel between the long term economic cycles from the period relating to the Old Testament (the Biblical Jubilee) to the modern industrial age (The Kondratieff Cycle). Brace yourselves for an awesome parable that dares to prove that the long wave cycle has endured from the beginning and also sets forth in no uncertain terms the higher-minded principles of economic balance and growth absent from our present approach to managing our economic resources.
The first selection, Biblical Jubilee Year Predicts World Economic Collapse, was written fittingly in early 2007 at a time when bullish sentiment among market participants was at an all-time high. Although Gregg was dead right about the meltdown to come, I believe it offers something more significant than a crash prediction- a telling backdrop of how the Kondratieff Cycle is a descendant of the Biblical Jubilee.
The second selection provided here provides the raw content asserting symmetry between the Kondratieff Cycle and the Jubilee that is supported by substantial facts. This chapter, The Economy of the Jubilee, I believe best captures the essence of the Kondratieff Cycle theory. In only a few pages the author manages to make sense of the naturally recurring cycles of expansion and contraction in the K-Wave cycle through the lens of the Jubilee period known to the ancient Hebrews. When I read it the first time it made intuitive sense to me right away, and I suspect the same from most of our readers. Gregg’s findings enable us to better appreciate the purposeful nature of these boom-bust cycles through an extraordinary lens that seems to have been lost over time- the Biblical Jubilee cycle.
The author does a splendid job of tracing the 50 year Jubilee periods of growth and decline in ancient times to the ones found in the modern age shown in the K-Wave charts. By extrapolating the wisdom found through a careful study of the Biblical Jubilee the author reveals something quite profound- that economic winters are the direct result of ignorance to God’s universal laws and don’t have to happen. Imagine that.
They do occur, he argues, because the prevailing economic structures today don’t incorporate the basic principles of the Jubilee. These principles include debt forgiveness after certain periods, acceptance of the practice of sabbaticals, a strict aversion to paper currency backed by fiat decree, and of course the recognition at the outset of the veracity of the long wave cycle itself. The author gives credit to only two sources since the days of the ancient Hebrews that were able to reintroduce the wisdom of the ancient economic Jubilee- the Mayans and our hero- one Nikolai Kondratieff.
Sadly the prevailing economic worldview today denies these tenets and thus the greater public suffers needlessly from a series of asset bubbles, prolonged depressions, heavily skewed wealth distribution, and grossly inefficient resource utilization. Perhaps we should reconsider this Jubilee model of the ancient Hebrews that was so replete with these immutable laws of the universe it prevented them from ever suffering through the perils of an economic winter. Read on and pause for a moment and ask if you agree.
The last selection in the Jubilee trilogy is titled Will the Kondratieff Cycle Revert to the Jubilee Average? It dares to parse the most vexing conundrum that has baffled so many Kondratieff proponents in recent years such as why the K-Winter and the EW ‘s Third Wave down cycle (P3) have subdivided and been extended longer than thought possible. Here the author notes that the Biblical Jubilee cycle called for the current winter to begin in 1987. Sure enough, the market suffered its worst decline in history (down 23%) on October 19, 1987 but did manage to avoid the dreaded effects of past winters due to the wonders of modern financial alchemy on display from Greenspan and then Bernanke. They were able to extend the duration and scope of the true enabling force at their discretion- dollar hegemony- beyond the limits apparent to most. And though in recent years the perils of the global fiat currency scam have become more mainstream, the enabling condition of dollar hegemony remains elusive to nearly everyone. We found this to be so crucial we established it as a core theme at the outset in 2007 and our readers are welcome to read more under the Taboo tab on our site.
In this final selection from Gregg on the fate of the K-Winter, he suggested (in early 2007 and before the meltdown) the looming crash would trigger the end of fiat currency. Yet as we all know the Fed’s resourceful alchemy once again extended the winter and the subdividing waves of the EW’s primary count. So this get’s to the real crux of the matter- did the Kondratieff Winter peak in the spring of 2009? Could we actually be in the KW Spring season and not know it because it looks so much like winter? Have we already hit bottom? If so, how is that possible when the core element of the K-Wave theory has not been satisfied (debt excesses being rid from the system)? These are the baffling questions before us today in early November 2010. The author here maintains still that the next Jubilee retrenchment will occur in 2036 on schedule with the Biblical schedule. But wait a minute. How can that be when the 1987 Jubilee only lasted a day?
I believe it all comes down to this one question- is it possible for God’s economic long wave (the Biblical Jubilee wave of 50 years) to be impacted by the will and actions of a few humans who could collectively alter this divine wave that has endured unabated for so long? Throughout our history, the answer is clearly NO. But considering that we are in the twilight of the POWER wave described in the Mayan Calendar section, it’s no stretch at all to consider that this divine wave could now be slightly delayed for a period. Our belief is that human will can alter the divine path for a brief time but still can’t overcome the immutable laws of a universe so rich in its own divine perfection. So yes, I believe these divine cycles can be moved out further for while, but the jury is still out. More to the point though, the author suggests in the title that these cycles out of balance will revert back to their mean. I suspect so also because I believe these cycles, like us, are also accountable for their digressions.
The Economy of the Jubilee: