"Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: For where your treasure is, there will your heart be also."
Matt. 6:19-21
Matt. 6:19-21
Have you been watching the financial news recently?
There are some serious events coming around the corner at us. Things that most of us have only read about. Allow me to drop a few quotes on you.
There are some serious events coming around the corner at us. Things that most of us have only read about. Allow me to drop a few quotes on you.
"The Government must suspend a set of key banking regulations at the heart of the current financial crisis or risk seeing the economy spiral towards a future that could make 1929 look like a walk in the park."
Peter Spencer, Economist
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved"
Ludwig von Mises, Economist
"According to Merrill Lynch, the slope of the yield curve and the value of credit spreads point to a 100% chance of a recession."
Doug Kass, Analyst, Contributing Editor-thestreet.com
Peter Spencer, Economist
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved"
Ludwig von Mises, Economist
"According to Merrill Lynch, the slope of the yield curve and the value of credit spreads point to a 100% chance of a recession."
Doug Kass, Analyst, Contributing Editor-thestreet.com
Ah, poodles...the list goes on and on. Even though you won't hear many facts or opinions like this on your average network news program, the people that WORK in the field day-to-day are worried. Near panic, if truth be told.
The American economy (and, by association, the world economy) is standing on the tippy-toe edge of disaster.
Most of the problems stem from the practice of the last decade of buying bad debt with bad debt, making even more bad debt. OK, that's accurate, but a bit cryptic.
Let's look at the housing market for a real-world example of what's happening.
Person "A" really can't afford a house. Bank "B" comes up with some wacky methods of making it "affordable" (read that as, where it is easier to delude person "A" into thinking that the debt of the house will, in the future, become a credit.) Bank "B" takes a bunch of "A" people, and sells their packaged debts to Bank "C". Bank "C", hoping to make some profit off of this package sells it, combined with other packages of debt to Bank "D". And, they also sell it to Mutual Fund "E". And maybe, even to Foreign Investor "F".
If this sort of looks like a pyramid scheme, you wouldn't be the first to notice the similarities.
Now, as long as "A" makes payments on time, everybody is happy.
But, along comes, say, food prices going up 20%. Or, maybe, a loss of job. But, something happens that makes "A" stop payments on the debt.
The result? "A" loses a house. "B" through "F" lose value (money) of their investment.
If there are a bunch of "A"s, then "B" goes under. If "B" goes, "C", "D", "E" and "F" are going to be treading water like a passenger on the "Titantic". A few might get a ride in a life boat, but most will go under.
The problem is, even though only these people CAUSED the problem, everyone will feel the pain. When a bank goes under, it doesn't go alone. It takes the savings accounts, the checking accounts, the loans, the business accounts...all of it, right to the bottom of the sea. And, when one of those business accounts gets lost, a business goes dark. This means people that had a job, no longer do. So, they become "A" people.
Lather, rinse, repeat...often.
The REAL root to this is the simple truth:
"For the love of money is the root of all evil...."
1 Tim. 6:10(a)
The American economy (and, by association, the world economy) is standing on the tippy-toe edge of disaster.
Most of the problems stem from the practice of the last decade of buying bad debt with bad debt, making even more bad debt. OK, that's accurate, but a bit cryptic.
Let's look at the housing market for a real-world example of what's happening.
Person "A" really can't afford a house. Bank "B" comes up with some wacky methods of making it "affordable" (read that as, where it is easier to delude person "A" into thinking that the debt of the house will, in the future, become a credit.) Bank "B" takes a bunch of "A" people, and sells their packaged debts to Bank "C". Bank "C", hoping to make some profit off of this package sells it, combined with other packages of debt to Bank "D". And, they also sell it to Mutual Fund "E". And maybe, even to Foreign Investor "F".
If this sort of looks like a pyramid scheme, you wouldn't be the first to notice the similarities.
Now, as long as "A" makes payments on time, everybody is happy.
But, along comes, say, food prices going up 20%. Or, maybe, a loss of job. But, something happens that makes "A" stop payments on the debt.
The result? "A" loses a house. "B" through "F" lose value (money) of their investment.
If there are a bunch of "A"s, then "B" goes under. If "B" goes, "C", "D", "E" and "F" are going to be treading water like a passenger on the "Titantic". A few might get a ride in a life boat, but most will go under.
The problem is, even though only these people CAUSED the problem, everyone will feel the pain. When a bank goes under, it doesn't go alone. It takes the savings accounts, the checking accounts, the loans, the business accounts...all of it, right to the bottom of the sea. And, when one of those business accounts gets lost, a business goes dark. This means people that had a job, no longer do. So, they become "A" people.
Lather, rinse, repeat...often.
The REAL root to this is the simple truth:
"For the love of money is the root of all evil...."
1 Tim. 6:10(a)
Paul had told Timothy just a little before this statement:
"And having food and raiment let us be therewith content."
1 Tim. 6:8
1 Tim. 6:8
Being clothed and fed should be enough for any person. But, when the lust for wealth takes over, nothing good can come of it.
So, it may be a matter of years, or it could be just a few days. But, this economy is heading for the trash dump.
I recommend investing heavily in heaven, as our opening verses show. Doing those things that can open an account in heaven (such as surrendering to Jesus Christ as Lord and Savior) and can deposit riches into that account (doing those things commanded of us as bondsmen to Jesus) make a whole lot of sense.
God our Father and our Lord Jesus Christ, when it is all said and done, are the ONLY treasures worth having, on earth or in heaven!
Grace and Peace....
So, it may be a matter of years, or it could be just a few days. But, this economy is heading for the trash dump.
I recommend investing heavily in heaven, as our opening verses show. Doing those things that can open an account in heaven (such as surrendering to Jesus Christ as Lord and Savior) and can deposit riches into that account (doing those things commanded of us as bondsmen to Jesus) make a whole lot of sense.
God our Father and our Lord Jesus Christ, when it is all said and done, are the ONLY treasures worth having, on earth or in heaven!
Grace and Peace....
