Our Economy Today

[Sister Marie]

This is a artical that gives much information about our Economy and what's going on now concerning it.

What could this mean for Christian Churches that keep their money in the Stocks? Something to think about.
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Condensed excerpts from....

ECONOMY ON THE EDGE
     -by Andrew Strom.
   
In November 2001 article was perdicted that the Stockmarket would go into a prolonged fall, the U.S dollar would go into a prolonged fall, and gold would break through its "glass ceiling" to reach new heights.  All of these are signs of serious trouble for the world economy and every one of them has come true. But we are yet to see the real "crash".

Since November 2001 the U.S Stockmarket has fallen around 18%. In fact, the Stockmarket has now been down significantly for THREE YEARS IN A ROW. The only time this has happened before is DURING THE GREAT DEPRESSION. The US dollar has also been declining steadily for that whole period, just as predicted, and gold has broken out into a new bull market - already over $360.00 per ounce - way above where it was. Expect it to go much higher yet.

But the great crash has not yet hit. There is still time, if your retirement money is in stocks, to GET OUT NOW. You may suffer losses, but at least you will not lose the shirt off your back. Hanging around, "hoping against hope" that stocks will improve is not a good idea. A lot of people have lost a lot of money doing that over the last three years. And things are not getting any better.

     Please remember, it is not just "rich" people who own stocks in the USA. It is estimated that around 50% to 60% of all Americans are in the stockmarket - often through Mutual Funds or Pension schemes, where their retirement money or their their children's education money is held. If there is a stockmarket crash, it will affect a lot of "little" people terribly, not just the rich.
   
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ANDREW STROM WRITES: There has been a desperate attempt by the Federal Reserve in America to keep the economy afloat and the stockmarket bubble from deflating. They have tried everything - including 12 interest-rate cuts  (-a world record) and massive expansion of the money supply plus record debt levels. Nothing can prevent the slide.    

In the wake of the 1987 stock crash, a special team  was formed in the US known as the "Plunge Protection      Team" or PPT. When stocks look as though they are about to plunge downwards, this group has the ability      to intervene in the markets, buying and buying until the plunge is arrested. Thus, they hope to soften or avert another great crash. The problem is that lately, accordingto respected analyst Jim Puplava, they seem to have to intervene and "prop up" the market falsely a lot more. In fact, where would it be if they didn't? The market really is on "life support", just like the vision shows.

For instance, let's say the Dow opens with a jarring 100-point drop (-not uncommon these days). Often a "mystery buyer" will suddenly enter the Futures Market and buy and buy until they have pushed stocks back up again. This has happened time and time again in recent months. Someone is trying to keep this dying patient alive on artificial life-support. But one day they are not going to be able to stop the deluge.

The Dow will be up 100 points one day  and down 150 points the next - and so on. Tremendous surges and troughs, and often no rhyme or reason to it.The markets are under terrible strain.
     

So, having looked at all this alarming information, what should our response be? Obviously, we should be      PRAYING about it. Only God can guide us individually and give us wisdom during such times. But there are      other obvious things also:

   

1) GET OUT OF DEBT. Especially, do not get caught up in the "Housing Bubble" in the U.S, where people
     are re-financing and "topping up" their House mortgageo buy luxuries. Pay off debt instead!
     

2) GET OUT OF STOCKS. (-And other 'paper' investments).
     

3) LAY UP "TREASURES IN HEAVEN". -Remember the poor and ask God to direct your giving.
   
I strongly advise that you go to a site like www.financialsense.com for further insight and info.
   
     God bless you all!
     Kindest regards in Christ,
     Andrew Strom.

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With Christian Love,
Sister Glass

[This message has been edited by Sister Glass (edited 02-07-2003).]

[Joan]

I appreciate the warning in the above written article. Money is the working commodity of our social world and we are all influenced by it’s presence or lack of it. The adage from our bible saying “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows” stand true today as well as when Paul wrote to Timothy about it. Perhaps it is best to modify ‘all evil’ to many evils because our sensual lusts, rebellion against God or excessive indulgences of selfishness stem not necessarily from love to money. However, that is the springing point. The LOVE to money is evil. Money in itself is neutral.  I suppose by covetousness we can be seduced away from the faith. When an insatiable desire for money becomes our ambition we have walked into the temple of idolatry. Independence from God and his providence in our personal lives comes when we look to our bank accounts, stock market winnings, or capital assets as the source of our protection.

Having money as the result of given gain or application of personal talents is a blessing from God to many of us. The poor we will always have with us but let’s not forget that there will always be rich Christians as part of the church. Their responsibility with the stewardship of their means is a wonderful way of helping the kingdom of God move on in many areas that otherwise without their money would not be possible. Many rich do get into the kingdom of God. Their camels get through the eye of the needle. The secret is in their heart’s devotion to laying up their treasures in heaven.

Joan