Monday, September 29, 2008

What Happens Next?

It's interesting to me, that while our nation is undergoing a huge financial crisis - not one of the many blogs I read (or shall I say scan - since I always tell my dh I'm not actually reading all the blogs) has talked about what is going on.

Perhaps it's because nobody wants to alienate their readers by talking politics...maybe it's because it's easier not to think/read/discuss what is going on. Sure there are blogs out there that focus on finances and the economy - maybe we figure it's best left to them - the experts - to write about.

Maybe I'm just reading the wrong blogs. Or the right blogs. I know I'd rather stick my head in the sand and ignore what is going on and hope congress comes up with a solution (today's failed) that will solve the problem real fast. I don't want to think about what all this could mean.

We are kind of in the thick of it all. My dh is a CPA and a registered financial advisor...so he reads all the right things, analyzes them, and then makes all the difficult decisions during these difficult days. He's responsible for investing other people's money and our money too...

I should add that this isn't all about super wealthy people who have invested money in the stock market like I just heard someone say on the radio. People think since they don't dabble in the stock market, that they are safe. But this all has far reaching repercussions...banks are afraid to loan money...so if you need a bank loan for a house or a car - might not happen. Small businesses might not be able to get a loan...might not be able to make payroll...might not be able to keep all their employees - so you might be out of a job.

Though none of us wants to experience hard times, an encouraging word from the Bible regarding this situation is found in Habakkuk:

"Though the fig tree should not blossom
And there be no fruit on the vines,
Though the yield of the olive should fail
And the fields produce no food,
Though the flock should be cut off from the fold
And there be no cattle in the stalls,
Yet I will exult in the LORD,
I will rejoice in the God of my salvation.
The Lord GOD is my strength…"

5 comments:

Mrs. Mordecai said...

I haven't said much about it because I don't know what to think. I can think of anything I can do about it apart from be responsible with our own stewardship and prepare for the future. I am interested to see how this plays out, and sad to see the hardships brought upon many. But also, I think it might be a good thing. We live in a very spoiled, take-it-for-granted, debt-oriented society. If this financial problem will teach people that they can't have whatever they want whenever they want, it will probably be worth it.

Anonymous said...

Since I won't be retiring for many, many years, we will leave our money where it is and hopefully the market will rebound again... We did stop investing in ourselves and now we are putting that extra money into our son's education account which is safe and the government matches our contributions.
Rhonda

TheSaxonHus said...

I have discussed some politics on my family's blog (probably not a wise thing to do!) but not about the financial crisis. Your husband probably has a better feel for the whole situation than most. Personally, I have some money invested in the market, etc., primarily funds matched by employers. It's taking a beating. Oh, well...

In my mind, a bail out is the wrong approach. The last proposal I heard in Congress goes against many principles of a capitalist system and that concerns me. On the other hand, experts are screaming that something MUST be done. I am not an economist so I don't have a ready solution. Eliminate the capital gains tax? Reduce income taxes? Provide insurance money to banks as they need it?

What I do know is the Lord Jesus Christ is sovereign and even in control of the economic system of the United States, therefore, I need not worry. If He permits (or causes) it to collapse He has His reasons. If the economy suddenly recovers, He has His reasons. To paraphrase Job, "Though he takes all my money, yet will I trust in Him." Besides, everything I have comes from Him in the first place.

Praise the Lord!

Edi said...

Mrs. M - right, it's beyond our control at this point and all we can do is be responsible and wise with what we have.

Anon - yeah - investing in the stock market is basically for the long haul...I'm hoping though it will rebound sooner rather than later!

Saxon - Yeah my husband says as a Republican he doesn't like the idea of a bail-out "it's socialism"...but as a financial advisor and investor - he'd sure like a bail-out.

Anonymous said...

Maybe some of us don't blog about it because it is a bit too personal...