Posted: under News, Praise, Prophecy, Society and Culture, Teaching, prayer.
Tags: economy, Faith, Hope, News, Society and Culture
I shared an email with a friend recently. It was a quote from Charles Swindoll about Attitude Determining Altitude.
I was trying to share “HOPE”…
He replied with brief thanks for the encouragement……. … and then he went right on to share a link to a HORRIBLE VIDEO NEWS REPORT about how the economy is going to get worse before it gets better.
Now don’t get me wrong when I say this video news report is HORRIBLE. It is actually well done, and probably accurate. But it is so discouraging when such a HORRIBLE SET OF PREDICTIONS are made by some news pundit (currently playing on yahoo finance page).
SO MY QUESTION FOR YOU TODAY is - WHAT (or WHO) ARE YOU GOING TO BELIEVE?
I serve a risen savior, have access to the self same power that raised him from the dead, command an army of angels, and cannot be overcome. I believe the author/creator of it ALL who said darkness cannot overcome light.
I encourage you to turn the news off and create your own future - independent of the herd!
OK… OK… Reality does have to be dealt with. I know… But only by “EARTH PEOPLE” : )
Those of us who are spiritual can walk on water, part the red sea, feed thousands with little, and otherwise “bind and loose” with help from our Father in Heaven. If you don’t know what this power is, “to bind and loose” then search an online bible or get your butt to a church that lives it and JOIN IN!
So… Soldier… (In my best General Patton Voice) It’s time to get up, out of that bunker, and charge straight into the face of the enemy - just to prove it can be done.
This enemy might be called the NIGHTLY NEWS, or BAD NEWS (AKA “Troubling Spirits” in OT Lexicon). IT’S TIME TO TAKE SOME GROUND FOR THE KINGDOM, AND SHOW THE WORLD AND THE ENEMY THAT WE CAN DO WHAT MERE MORTALS CANNOT!
When we go forward with hope, that shines a light into a dark place. People will want to know what drives us… That’s when we can share a testimony with great result!
When it’s over, and the day is done, and you have accomplished your miracle… Share - Teach - Show the WAY : )
Oh, yeah… LEST WE FORGET - Each day is new, so…. you get to win, and accomplish miracles, and share, teach, show the way - EVERY DAY : )
PS - I just did my part….. NOW IT’S YOUR TURN : )
Posted: under News, Prophecy, Society and Culture, Teaching.
Tags: banks, economy, Finance, government, prayer, U.S.
Prayer Call: Ask God to cause our leaders in Washington start doing something for the people instead of for the banks who caused this mess.
You can read the following report from CNN any way you like.
Here is how I took it: In the latest financial market bailout news from Washington - U.S. Govt wants to bail out the banks who misbehaved so badly as to risk going under - even buy their bad debts so banks can clear their books and LOOK good again. This won’t fix the mismanagement that caused the problem, and won’t make them stronger than they are. It will just make them LOOK stronger. THIS IS NOT A SOLUTION!
- What about the people who counted on the American dream?
- What about the horrible loss being felt all over America as our houses plunge in value?
- What about our retirement?
- What about our kids in college?
- What about the young people who cannot even afford a decent place to live?
- What about their parents whose net worth has dwindled until they cannot help the kids with college or a place to live?
- What about the house in foreclosure next door, dragging my net worth down by $50,000.
I did not do anything wrong - but I am left holding the tab and hanging in the wind, broke, while Uncle Sam bails out the very people who caused this mess and makes their balance sheets look good?
God has a better plan. Let’s all pray for wisdom in Washington. Our leaders need to serve the needs of the people, not the greed of the banks.
NEW YORK (CNNMoney.com) — The federal government, in what will be its most far-reaching attempt yet to contain the financial crisis, is poised to establish a program to let banks get rid of mortgage-related assets that have been hard to value and harder to trade.
Leaders from the House and the Senate were briefed on Thursday evening by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.
“The root cause of distress in capital markets is the real estate correction and what’s going on in terms of the price declines in real estate,” Paulson said at a press briefing after the meeting. “So we’re coming together to work for an expeditious solution aimed right at the heart of this problem, which is illiquid assets on financial institutions’ balance sheets.”
Many details of the plan remained unclear, but it is likely the government would take on tens of billions of dollars in mortgage assets - if not more.
House Speaker Nancy Pelosi, D-Calif., said late Thursday night that lawmakers expected to get the proposal from Treasury in a matter of hours.
“We hope to move very quickly - time is of the essence,” Pelosi said.
Paulson, Bernanke and other officials expect to work through the weekend with congressional leaders to finalize a plan, said Brookly McLaughlin, a Treasury spokeswoman.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said he believes legislation could be acted on next week.
The announcement is the latest stunning turn in an extraordinary six days that have rocked Wall Street. A widening banking crisis has toppled two major firms - Lehman Brothers and Merrill Lynch - and prompted an $85 billion government loan to stem the sudden collapse of insurance giant American International Group.
Meanwhile, mainstay financial institutions are scrambling to raise cash or find merger partners - because of a freeze-up in lending and sinking investor confidence stemming from a collapse of the home mortgage market.
Talk of plan energizes markets
Speculation that the Bush administration was developing a comprehensive plan jolted Wall Street on Thursday and sent stocks higher. The Dow ended 410 points higher.
The Treasury has been talking about the concept of an agency to take on bad debts of financial institutions “for several months,” a source with knowledge of discussions on the issue told CNN.
There’s precedent for the federal government taking on troubled assets from the private sector. In the 1930s, the Home Owners Loan Corp. was set up to issue bonds to refinance borrowers. Then during the S&L crisis Congress set up the Resolution Trust Corp. to sell assets of failed banks.
One way the agency under discussion could work is by setting up bulk auctions to buy mortgage assets from financial institutions. The auctions would be for set dollar amount purchases. Companies that want to offload the hard-to-sell assets from their balance sheets bid to sell to the government at a huge discount. The company willing to sell at the lowest price wins.
The government would then be able to sell the assets back into the market when it wanted.
According to policy research firm the Stanford Group, such a setup would allow the government to refinance borrowers in the loans owned by the government, thereby lowering the risk of their defaulting and eventually boosting the price of the mortgage security in which those loans are packaged.
The agency and auction facility is one that House Financial Services Chairman Barney Frank, D-Mass., and Senate Banking Committee Chairman Christopher Dodd have supported.
Jaret Seiberg, a financial services analyst at the Stanford Group, said he believes there is bipartisan support for allowing the Bush administration to take short-term action to “get us through the immediate crisis.”
The expectation is that whatever program is decided on would only last through the presidential inauguration. “You don’t want a program that will last for several years because that would limit what the next administration could do,” Seiberg said.
Candidates to weigh in
On Friday, both presidential nominees are expected to detail their own plans to address the crisis.
Not everyone supports the idea that the government should buy up assets that the market currently can’t value and isn’t trading.
Sen. Charles Schumer, D-N.Y., on Thursday proposed his own plan that would involve the government providing a cash infusion to financial institutions in exchange for stock in the companies and let the institutions offload their mortgage investments.
Banking consultant Bert Ely is skeptical about the government getting involved at all. If the government chooses to “prop up the institutions or allows the institutions to offload asset onto a government entity, who’s going to take the losses? It’s financial insanity. The markets have to clear. Our fundamental problem: an oversupply of housing.”
CNN senior correspondent Alan Chernoff, CNN White House correspondent Elaine Quijano and Washington producer Deirdre Walsh contributed to this report.
Posted: under Society and Culture, Teaching.
Tags: America, economy, federal reserve board, GOP, Illuminati, Socialism
Well, the economy is in quite a mess… It seems like it might be time for some wisdom on the subject.
I could just give you the BULLET on this post, and tell you that FEAR OF GOD is the beginning of wisdom, and that there is nothing new under the sun, and that we can count on heaven for answers….
But I without a lot of background, or at least a little buildup it might not carry much weight. So here goes the long answer….
Before I start, let’s dispense with a popular myth. Christians aren’t supposed to be political…. or is it that Politicians are not supposed to be Christians?
What is that? You say “Faith should be a private matter?”
That road leads to hell for many… so Speak UP if you BELIEVE!
OK… now that we got this far, let’s talk about the economy and wisdom.
First, Fear of God is the beginning of wisdom. After that, it’s all “vanity” and “chasing of wind” because “there is nothing new under the sun”.
OK, That about sums it all up… Right? Well, almost.
I believe God can fix this mess, but I am sure not counting on the Federal Reserve, the GOP, or the Democratic Candidates for American Idol… Er… I mean…. President of the United States of America.
First let’s talk about “NOTHING NEW UNDER THE SUN”
Here’s the part that really chaps my underside….. The current situation is supposed to be FIXED because The Federal Reserve Board DROPPED CREDIT STANDARDS AND LIQUIDITY REQUIREMENTS for banks to borrow money from the U.S. Government.
Now, I ask you - Isn’t DROPPING CREDIT STANDARDS AND LIQUIDITY REQUIREMENTS on home loans what caused most of this mess in the first place? The answer is yes. And isn’t it likely that the lender in such markets will end up not getting paid? Again, the answer is yes. And aren’t bankers supposed to be smarter than this? Yes, the answer is yes.
How can our Politicians believe that allowing the US Treasury to behave in EXACTLY the same way that the failing banks behaved will fix the problem? Isn’t the USA now following the same game plan that caused all the problems at BANKS and INSURANCE COMPANIES in the first place? Oh, heck, I think they said…. “We can’t charge enough interest to people with good credit, so let’s LEND MONEY to all those people who cannot manage money - and just charge more interest than ever!” This was the greed that led to the SubPrime Mortgage Meltdown - as it is now being called. This greed is exactly what the Federal Reserve Board just exercised by lending money to AIG for 11 percent interest. It’s kind of like a SUB PRIME FEDERAL BANK LOAN WITH EXTRA FEES. They could have let the company go under, and let the insurance industry backup pool pay the insurance benefits, and probably should have. But no… they saw a chance to charge 11% interest - or take control of the largest pool of money in the financial world (banking and insurance industries) and decided to go for it. If enough of them do pay us back, it will all be OK… right? WRONG.
How is this RE-RUN going to fix the fallout?
Now for WISDOM
Is this even more ridiculous? Did the Federal Reserve Bank and Treasury Secretary just make a deal with AIG to buy 80% of the stock in a company that was ABOUT TO GO UNDER? Did they really invest $85 BILLION US DOLLARS in something that was failing? Did Uncle Sam REALLY BUY A COMPANY THAT NOBODY ELSE WANTEd ? Did they effectively turn the private company into a government owned entity? This is a slippery slope that leads to a socialized insurance system - which is the biggest pool of money in the world outside the vatican. AND THEY DID IT WITHOUT CONSULTING WITH OR EVEN INFORMING CONGRESS AT ALL?
Did they really? Yes they did!
In other words, there are no checks and balances that apply, and congress is not really running the country - but apparently one man is. His name is Bernanke. Or is he a Bush Puppet? Greenspan was not… but now look at what we have….
Consider: Greenspan was a republican purist who did not believe it was Government’s place to over-regulate financial markets. He refused to exercise some of actions Bush or even congress wanted him to exercise - because he believed in a free market…. Now Bernanke spends $85 Billion at a time without even consulting congress. Hmmmm……
Is Bernanke working WITH Bush and without Congress? Hmmmm….. Is this the last gasp effort of “THE NEW WORLD ORDER” to seize power before it’s latest poster child leaves office? G W B is, as we all know, a card carrying member of the OLD BOY NETWORK…. (READ: OLD MONEY crowd - or Illuminati).
Guess what… Uncle Sam is now taking over the biggest buckets of cash in the USA and making it look like it is somehow a nice thing for them to do. George won’t be able to sleep at night after he leaves office unless they give it back….. Maybe George will request a nice ransom to let these guys off the hook right before he leaves office. This sounds like a mafia technique I heard of once…. Some old guys would get desperate near the end of their life and and grab a friend by the cajones - squeezing until the guy coughs up some bucks to make you go away. In exchange the old guy would give them back their comfort and safety… Of course, the old man has to leave town afterward, or somebody comes looking for him when he is sleeping…
This is a time for God to shine his light on the darkness that is overcoming us. This is a time for Christians to voice the wisdom God provides. This is a time to clean house in Washington. We may need to impeach this crew EVEN BEFORE our president elect is supposed to take office, in order to maintain freedom and FREE ENTERPRISE in America.
Of course, if you would rather live in a Socialist Country… just do nothing. We just took a giant step in that direction, and they US Govt now controls an awful lot of cash that was supposed to be used to pay out life insurance and other claims… If Uncle Sam will let you lose your house, while bailing out the bank who did this to you, then what will Uncle Sam do with your retirement savings, or your life insurance policy? Hmmmm….
As for me and my house, we will serve the LORD.
Look to the skies and call on our God for a mighty war on stupidity… Let wisdom come to rule over the spirit of panic. Selah