Nearly 20 years ago, I wrote the original version of this editorial titled Years of Plenty, Years of Famine. (Where does the time go?) It explained that Joseph has always been one of my favorite Bible characters. His roller-coaster journey from favorite son, to slave, to master of the house, to prisoner, to Viceroy of Egypt is both amazing and inspiring.
The culmination of the story in Genesis 50:20 holds out hope to every believer going through difficult times: “You intended to harm me, but God intended it for good.” What an inspiring example of God at work in the affairs of men to accomplish His ultimate purposes!
The turning point of Joseph’s experience in Egypt occurs when he interprets a pair of dreams for Pharaoh. He realizes that Egypt will soon experience seven years of abundance, followed by seven years of famine. Joseph is put in charge of the preparations during the years of plenty, so that the people can survive the coming years of famine.
Back in 2006, the original editorial was written with a strong sense that America might be facing a similar “years of plenty, years of famine” scenario ahead. Given that, it stressed that we would be wise to consider the personal implications of Joseph’s story and start making appropriate preparations now, during the years of plenty, for any difficult years ahead.
That turned out to be a useful warning, as America — and in fact the entire global economy — was soon to suffer through such a frightening economic storm in 2008-2009 that it earned the label “The Global Financial Crisis.” At the time, many wondered if the current financial/economic system would even survive. It did, but many believe the core issues that led to the financial crisis and global recession were never truly addressed.
Rather than recognize the dangerous implications of our runaway debt (~$10 trillion in 2008), we’ve added trillions more (~$36 trillion in 2025). Rather than reform a financial system already overly reliant on “Too Big to Fail” banks, we implemented reforms that ironically led to massive consolidation and the largest banks becoming even bigger. Rather than step back from the type of actively interventionist central-bank policies that helped lay the groundwork for the initial financial crisis, global central bankers doubled down with Quantitative Easing and a decade of near-zero (or even negative!) interest-rate policies. And rather than our political leaders coming together to deal in a substantive way with the most important issues of our time, our politics are more fractured and divided than they’ve been in our lifetimes.
Unlike 20 years ago, this editorial isn’t being penned with a sense of specific foreboding. But signs of stress within the system are everywhere. Knowing the Bible’s many clear warnings about debt, it doesn’t take a prophet to see that eventually the global economy’s universal debt addiction is likely to cause problems.
While it’s easy to focus on these national or global problems, God has graciously provided protective principles to help us prepare individually for future storms. If we’re wise, those of us fortunate to presently be enjoying “years of plenty” should prepare for future strains to the system. We can do that by diligently working to get debt-free, funding an emergency-savings reserve, investing for the future, and diversifying broadly.
In the current context, this means protecting against the types of deflationary recessions and bear markets that have been common in the past, as well as preparing for inflationary/debasement scenarios brought on by runaway government spending. (Note: The SMI strategies utilize a broad range of assets. In addition to traditional stocks and bonds, they include monetary substitutes such as gold and Bitcoin, plus other assets that typically perform well during inflationary conditions, such as commodities.)
Joseph wisely set aside 20% of the harvested grain and was able to save not only Egypt during the eventual famine, but the surrounding nations as well. That should be our goal — to be faithful stewards when times are good, in preparation for times that aren’t. In being faithful this way, we may find ourselves being used, like Joseph, as instruments of God’s deliverance in times of distress.
A major theme of Joseph’s story is that God is at work even in times of hardship. Like the ancient Israelites, many Americans turn to God during crisis, only to go back to their “old idols” when the threat recedes. Those crises can be widespread, as in 2008. Or they can be individual, as in the case of a neighbor or co-worker falling on hard times. In either case, having our own financial houses in order may enable us to reach out and help, while also offering spiritual food that truly satisfies.
