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| The Economy Is Bad |
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Just in case you haven't noticed I am going to state the obvious. THE U.S. ECONOMY IS BAD!
If you were to look at the major economic indicators it is not good.
1. Stocks are down. (Those of you with investments and retirement funds feel the pain)
2. Foreclosures are up. (This month continued the trend and June is the biggest month to date for filing for new foreclosures. Over 1 million homeowners have been effected by this. They say this is the greatest housing crisis since the Great Depression.)
3. Fuel Prices are up. (I know we are all feeling the pain at the pump. It is not just here in the States.) I pitty those of you that drive diesel trucks and who are independent truckers. I don't know how you do it?
4. Food Prices are up. (If you buy the groceries you are feeling the pain here too. I have 5 older kids ranging from 10-16! Ouch! These guys are hungry! Our family food bill has easily increased by $50.00 per week.)
5. The dollar is down. Any of you that do business internationally or travel abroad are finding that your money is not worth what it used to be worth.
6. Banks are failing. This needs to be a major concern for you. It would be my suggestion to put some money away in your matress. Investment Bank Bear Stearns bought by Chase for a song. Our Banks have been given free access to the Fed funds and have been bailed out by the government to avoid a liquidity crunch. Indy Mac Bank was shut down yesterday and was sized by the FDIC. You remember seeing the sign in the bank saying this is insured by the FDIC? That means the government is backing the bank. Well the insurance company policy is now being cashed in. To the tune to 4-8 billion dollars.
7. Unemployment is up. The unemployment rate has been steadily growing for this year. It curenlty stands at 5.5% the higest it has been in the last 10 years is 6.3% in June of 2003. It is not uncommon to hear of plants shutting down and moving to Mexico or somewhere because it is cheaper to do business there.
8. Inflation is Up.The Consumer Price Index is up 4.2 percent over this time last year. This is an evaluation of what we pay for the basics, Food, Clothing, Shelter, Fuel etc... UP 4% Hope you are making 4% more than you were last year otherwise you are losing ground. Like most Americans.
9. Gold and Precious Medals are up. Here is a quote from "The Street.Com" and Internet investment publication. If you want to put your money in something that is performing right now put your money in Gold. Precious metals prices also soared, thanks in no small part to a decline in the greenback. As the purchasing power of the dollar falls, it takes more dollars to buy an ounce of gold. The Dollar Index, which tracks the value of the U.S. dollar against a basket of major currencies, fell 1.11% during the week ending Thursday, July 12, contributing to spot price increases of 2.66% in gold and 4.80% in silver. Over the same period, the precious metals funds we track returned an average of 4.61%.
10. The Minimum Wage Increase is coming.
Come July 24, the national minimum wage will go up, from $5.85 an hour to $6.55 an hour. This is good news right? It will be good news for the minimum wage worker but for everyone else the cost of goods and services will increase to off set the overhead paid by employers. So look for higher prices at restaurants, amusement parks, other places that use a lot of minimum wage workers.
So are you concerned? Are you scared? Looks like there could be rougher times ahead. Of course there are a lot of practical things we can do to prepare for this, by saving money, changing the way we live, personal down-sizing etc...but, the main thing we need to do is to prepare spiritually. God has promised us that He will take care of us. He is Jehovah-Jireha The Lord our Provider. 4:19 But my God shall supply all your need according to his riches in glory by Christ Jesus.
37:25 I have been young, and [now] am old; yet have I not seen the righteous forsaken, nor his seed begging bread.
41:10 Fear thou not; for I [am] with thee: be not dismayed; for I [am] thy God: I will strengthen thee; yea, I will help thee; yea, I will uphold thee with the right hand of my righteousness.
Personally, I think this is a great time to make sure your spiritual life is in order. Make sure you are living in obedience to God's Word. I also, think this is a great time to witness for God. As our future is uncertain, God is the one that holds the future. He is the one we trust in. Am I concerned? I am a banker, of course, but God ultimately is in control and He is The One it trust.
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| To add a comment to "The Economy Is Bad" |
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| July 12, 2008 |
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As a business man, I am concerned as well, but you are absolutely correct...everybody can modify their lifestyle to save a bit of money...and every little bit helps. I have long contended that the ability of the American people to buy a $4 coffee at Starbucks shows us how wealthy we truly are... |
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| July 12, 2008 |
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| Voice: Even Starbucks is taking it on the chin. They are closing down I forget how many stores several hundred and several thousand will be losing their jobs. We are truly blessed in America despite all the current turmoil, but unless we make some changes it looks to be more of the same. Thanks for commenting. |
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| July 12, 2008 |
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Re:Starbucks Over 800
Bible -check
Spiritual growth -check
Obedience -check
Bring it Lord
You said we can pray that these days be shortened.
As we begin- lets get it done quickly |
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| July 12, 2008 |
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I have long been amazed at the inability of people to see that a nationwide increase in minimum wage will result in a nationwide increase in prices of things made by the minimum wage worker. In fact, prices may need to go up MORE than the increase in minimum wage, b/c it may take more than one worker to produce the good/service. But if every person sees themselves as the center of the universe, then the wage increase is the ONLY thing seen. Even those who don't get the increase but feel "compassion" for those who will, are often in favor of the increase because it soothes their conscience.
Yep, God will provide, and this world is not our "home"....
Good post, Todd!. |
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| July 12, 2008 |
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Bad economy not only in US but also in India and rest of nations It is out of man's hands It will lead to the coming of new economy |
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| July 12, 2008 |
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| Todd we are feeling a recession here in England (I have felt it for a long time but he Lord has been true to His word) our petrol per litre is more than you pay per gallon Whoooo and that is hard hitting! Praise God that we dont have to trust in man! Hallelujah! and I would not even pay 50 cents for a Starbuck coffee personally! |
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| July 12, 2008 |
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As one can see from above #9 silver is out performing gold. so, the same amount in dollars of silver will bring you a better investment. The dollar is shrinking not just from demands on the market. The Fed is printing like the fools they are. This can also be considered a TAX on everyone in the country. It takes money out of you pocket without you approving it. "Taxation without representation." we have no say about it. Silver is said to be actually about 400% undervalued. I buy silver coin bullion and have for years. It makes no sense to have a large amount of cash in the bank. Even at compounded interest. You still lose money (or paper).
So, silver is a better bet. If you buy gold. I suggest you buy the 10th onz coin as it is rarer. They mint much fewer of them. Remember also, the top 5% of stock are bought buy "insider trading" as Donald Trump has said in several interviews. I am not an expert. But, I have not lost any money yet. Most of my coins have risen over 100% in interest, or more in the past years.
Again, I am not an expert. But I do believe the hike in minimum wage will see many layoffs. Business can't survive hiring people at this price in the middle of a recession. Or, one that looks like one!!
The banks will be bailed out and they will claim it is for those poor people losing their homes. That's a lie. they want to save the banks that hve robed us for a couple centuries. the taxpayer will be the ultimate "fall guy." |
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| July 12, 2008 |
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The hardest hit are the ones who live from paycheck to paycheck. What are they going to do?? I can ask this question because I am one of those people. My savings was depleted a long time ago because of family matters and health issues. Now I live from paycheck to paycheck and pray it will take care of the needs. If I lost my job then everything else follows suit. I AM NOT AFRAID. My Father made a promise to his children and I am standing on it.
Interesting post DC, you would have to be deaf and blind not to know that things aren't bad. |
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| July 12, 2008 |
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| Brother Todd..... gosh to be frank...I have nothing wise to say at all. However, I loved your blog and it did remind me of Who is really in charge. Thank you. :0) |
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| July 12, 2008 |
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We just did a study in 2nd Peter. 2Pe 3:12 You should look forward to the day when God judges everyone, and you should try to make it come soon. On that day the heavens will be destroyed by fire, and everything else will melt in the heat. (CEV) I look forward to His return, but I know that it will only get worse here until He does return. We MUST go through the fire, for this time we live in has been spoken of with much anticipation and longing by the prophets of old. Stand and rejoice that you were chosen to be a witness to these times, don't fret over the earthly things, don't worry for the carnal items, but instead be steadfast in your faith and longing for those things that are spiritual! |
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| July 12, 2008 |
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| Brother Todd forgive me for calling you DC... DC is on my mind(no pun intended) |
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| July 12, 2008 |
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| I've been well off and I've been mostly poor, meaning that I have lived at or below the poverty level. I haven't gone hungry and I've had a roof over my head. I can praise God when i have and I can praise him more when I don't have. God's will is not dependant upon our circumstances. Our circumstances are a part of God's will. We need to live everyday with a Godly perspective. Come quickly Lord Jesus. Shalom |
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| July 12, 2008 |
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I have a deep freeze, I can and freeze out of our garden, I have chickens for eggs....saves alot of money. But, if jobs keep going.......I hate to think of where we'd be.......hubby's meds are over $3000 a month! |
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| July 12, 2008 |
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I hear you Brother Todd.... I don't trust anyone but the Lord....
not that I am untrusting but we are all human and we fail we don't mean
to most of the time... Sometimes it wasn't up to us, but circumstances...
But God He keeps His promises, no matter what.... His word is His bond.
This a good post. God Bless you Brother Todd. |
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| July 13, 2008 |
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Having just jumped back into the multifamily housing industry after an 18 month hiatus I can tell you that society is rapidly changing--people are feeling the bite of the economic conditions that are effecting their whole lifestlye. When the masses start moving (which they are) because they can't afford to commute any longer you know big changes are afoot and most of them are rooted in fear.
What I love about this post, Brother Todd, is that you have pointed out that we can enjoy the benefits of a different economy. Our Father's economy is not based on the US dollar and the price of gas...it is based on His sufficiency--His never ending supply. Ours will run out and is quickly doing so...but His Kingdom and it's economy will remain steadfast. |
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| July 13, 2008 |
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THIS IS TRUE, I HAVE JUST LOST MY JOB OF 14 YEARS DUE TOO PLANTS MOVING OUT OF COUNTRY FOR CHEAPER WAGES. ANOTHER THING THAT HURTS THIS COUNTRY IS WE CAN'T SELL OUR PRODUCTS IN THESE OTHER COUNTRIES, BUT PEOPLE FROM OTHER COUNTRIES CAN COME TO THE U.S. AND START A BUSINESS HERE. THEY ARE GIVEN MONEY FROM OUR GOV. TO START A BUSINESS AND DON'T EVEN HAVE TO PAY U.S TAXES.
ANOTHER REASON THAT PRICES ARE SO HIGH IS SO THE GOV. CAN TAKE CARE OF PEOPLE WHO DO NOT WANT TO WORK. ALL THE FREE HEALTH CARE, FOOD, HOUSING, ETC. , ALL THE WORKING PEOPLE HAVE TO PAY EXTRA TO FUND ALL OF THIS.
I THINK IT IS REALLY SAD WHEN ALL OF OUR ELDERLY PEOPLE WHO HAVE WORK HARD ALL THEIR LIVES HAS TO DO WITHOUT WHILE OTHERS WHO ARE MUCH YOUNGER AND DON'T WANT TO WORK GET WELL TAKEN CARE OF.
BUT THROUGH IT ALL OUR GOD WILL TAKE CARE OF US. HE HAS NEVER CREATED ANYTHING THAT HE HAS NOT TAKEN CARE OF.
BE OF GOOD CHEER THROUGHOUT ALL OF THIS !! HE IS OUR PROVIDER !!! |
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| July 13, 2008 |
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Bubbles: It is great that you are ready to go! I am eagar for the rapture and for the Lord to start to wrap things up too, but I know that things can get rough especially for us believers. I am trusting the Lord and intend on trusting Him through whatever may come.
Mike: When I was making minimum wage I was all for the increase. Now, it means that I need to get a raise too as it will add to the cost of everything. That's right though, no matter what comes, God has it under control. Even our own lives!
Jacob: I think the turbulent economic times will give us a greater opportunity to advance the gospel of Jesus Christ. Christians will definitely stand out in the crowd because of the blessings of God.
Stew: Prices are going up globally for sure! We look to God, from whence comes our help? Our help comes from the Lord maker of heaven and earth. |
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| July 14, 2008 |
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| bro. todd...............with what we were taught friday night at the camp meet, how close we are coming to the coming of the Lord, how things are lining up to the word of God, and what you just posted, makes my spirit leap with joy............ we don't know the hour our Lord is coming but we need to keep watch, we need to prepare ourselves for our churches will see a great increase in growth( some of them will be christains for the first time, so they are going to need a lot of support and help) & (others will be God's wayward childern coming home,so they will need to feel all the love we can give them). ...........be prepared like the 5 virgins who had enough oil.............KEEP A WATCH....(and i don't mean the instrument that you wear on your wrist..lol) |
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| August 01, 2008 |
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| Jettabug, yes Jesus said that when you see that the sun is red you can expect the rain. Well the sky is red spiritually for sure. |
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| September 24, 2008 |
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9/24/08
I told you back in mid July that it was coming. The late Larry Burkett spoke of the "Economic Earth Quake"...I don't know what the future holds but I know Wwho holds the future! Trust the LORD |
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| September 24, 2008 |
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Our faith must be in Christ, not in money, stocks,
Our fight is not with flesh and bone, but it is spiritual.
When we allow ourselves to be worried about money, then our focus is off of the Lord. |
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