Thursday, July 24, 2008
THE COMING GLOBAL ECONOMIC CRISIS
THE COMING GLOBAL FINANCIAL CRISIS: IS THERE A WAY OF ESCAPE?. - Tokunbo Johnson (July 16, 2008)
When asked the question “How Do We Survive the Coming Economic Crisis?”, Dr Larry Bates (a former member of the United States House of Reps)advised that people lock their money up in Gold or Silver coins(not Gold Jewellery which fluctuates based on Weight, shape, and other variables).According to him the stability of the prices of Gold and Silver makes them a lot more dependable. I remembered the book of Haggai where God said "Silver is mine gold is mine..."
Dr Larry Bates speaking on Paper Assets (Stocks, Bonds and other paper assets) advised against them due to several factors that make them unpredictable and unstable.
There is an economic crisis coming on the earth. As a result Dr Bates said“ many more people will lose money in a very large proportion and a few others will make so much money”.
Are you positioned rightly to survive this eventuality?
Godliness and National Wealth
In the true sense of things,one cannot divorce lasting national wealth from godliness.Even as UK and US move farther away from God but rather into apostacy and flagrant disrespect for the gospel of Christ so also are the repercussions of their actions catching up with them. Deut 28:15-35.
Only a nation who can establish herself as one that honours God trully prepares herself to reap the blessing of obedience and survival from this looming crisis. Deut 28:1-14 .Blessed is the nation whose God is the Lord!
· Fact File UK:
The value of a typical home has fallen by nearly 10 percent or about £ 20,000 since prices peaked last year.
Michael Saunders, of Citigroup, the investment bank said:”It is fair to say that we are now in the worst housing slide for more than 50 years.”
A source was quoted as saying “There were hopes that the Bank of England’s multibillion pound injection of cash into the credit markets earlier this year would revive the mortgage market but it has had little effect”
Banks and building societies are demanding even heftier deposits from borrowers in an attempt to protect their profits after the credit crunch, making it impossible for all but the most cash-rich buyers to secure a loan.
In a certain suburb called Newquay, free cars are even being offered in an attempt to invigorate the stalling mortgage market.
Fact File USA :
US mortgage firms are experiencing a slump. Two of America’s biggest mortgage lenders Fannie Mae and Freddie Mac are both experiencing a downward slope in the prices of their shares loosing between 49 percent and 50 percent and a third California-based, IndyMac has just been been liquidated by the US FDIC(Federal Deposit Insurance Corporation) last Friday:
....To be Continued
When asked the question “How Do We Survive the Coming Economic Crisis?”, Dr Larry Bates (a former member of the United States House of Reps)advised that people lock their money up in Gold or Silver coins(not Gold Jewellery which fluctuates based on Weight, shape, and other variables).According to him the stability of the prices of Gold and Silver makes them a lot more dependable. I remembered the book of Haggai where God said "Silver is mine gold is mine..."
Dr Larry Bates speaking on Paper Assets (Stocks, Bonds and other paper assets) advised against them due to several factors that make them unpredictable and unstable.
There is an economic crisis coming on the earth. As a result Dr Bates said“ many more people will lose money in a very large proportion and a few others will make so much money”.
Are you positioned rightly to survive this eventuality?
Godliness and National Wealth
In the true sense of things,one cannot divorce lasting national wealth from godliness.Even as UK and US move farther away from God but rather into apostacy and flagrant disrespect for the gospel of Christ so also are the repercussions of their actions catching up with them. Deut 28:15-35.
Only a nation who can establish herself as one that honours God trully prepares herself to reap the blessing of obedience and survival from this looming crisis. Deut 28:1-14 .Blessed is the nation whose God is the Lord!
· Fact File UK:
The value of a typical home has fallen by nearly 10 percent or about £ 20,000 since prices peaked last year.
Michael Saunders, of Citigroup, the investment bank said:”It is fair to say that we are now in the worst housing slide for more than 50 years.”
A source was quoted as saying “There were hopes that the Bank of England’s multibillion pound injection of cash into the credit markets earlier this year would revive the mortgage market but it has had little effect”
Banks and building societies are demanding even heftier deposits from borrowers in an attempt to protect their profits after the credit crunch, making it impossible for all but the most cash-rich buyers to secure a loan.
In a certain suburb called Newquay, free cars are even being offered in an attempt to invigorate the stalling mortgage market.
Fact File USA :
US mortgage firms are experiencing a slump. Two of America’s biggest mortgage lenders Fannie Mae and Freddie Mac are both experiencing a downward slope in the prices of their shares loosing between 49 percent and 50 percent and a third California-based, IndyMac has just been been liquidated by the US FDIC(Federal Deposit Insurance Corporation) last Friday:
....To be Continued
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