The Dow suffered its worst one-day point loss ever on Monday after the House of Representatives failed to pass a $700 billion financial bailout plan aimed at rescuing Wall Street from the most serious credit crisis since the Great Depression. The dramatic day on Wall Street also saw Citigroup take over Wachovia's banking operations in a government-assisted deal, and the second-largest percentage drop in crude oil since April 2003.
1 - If you own stocks, mutual funds or bonds, sell them and take what you can, buy gold, foreign currency or just plain buy the things you will need the next couple years.
2 - If your kids need shoes, find a sale TODAY and buy two pairs (anything that is on sale, get two).
3 - Don't let the drop in oil prices fool you, gas is not going down, what has happened is speculators are backing off and that is not a good sign. Save as much gas as you can, stop the unnecessary driving folks!
4 - After doing the above, invest in God's Kingdom! It's the only thing that will give a GURANTEED return!
Monday, September 29, 2008
What to do about this financial situation?
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Bill, did you hear the rant of Nancy Pelosi just before the vote?
I find no way to understand her. Here she is trying to get cooperation across the aisle and she launches into a tirade against President Bush. Excuse me! How does that help your cause, Madam?
Well, the bill was defeated, so maybe her ill-suited words were best in the end....although who knows what the "end" will be.
I am not knowledgeable of economics, but I know enough to agree with your last point: It is only in the Kingdom of God that our assets are secure. What better place to put them?
Blessings----
Well, I'm not sure I agree with you Bill. This is exactly the kind of thinking that ruins the economy. If you aren't smart enough to manage your own money and let some 25 year old stock broker do it, this is your fault. If you paid attention to what is going on and invested properly, you should not EVER sell your stock right now. And you're wrong, gas is going to drop like it's supposed to when crude takes a dump. Gold is way over valued and foreign currency investing is extremely complex.
I also think it's sad that you believe in just giving up and letting god fix it. What kind of financial advice is that? I am knowledgeable about economics and I would advise not taking your advice because it makes less financial sense than bailing out the billionaires...Matt.
I manage my money quite nicely thank you. I am talking to those who have put their trust in their 401k's, stocks, mutual funds etc.
Look, the people who will weather this storm are those who are currently "in the black". No debt (other than your house which is ALWAYS a good investment, long term), no silly discretionary spending, and obedience to God with His portion.
Gambling, which is what stocks and funds are, is dumb.
Sure dabble a bit, but I will take an 8 month CD at 4.55% anyday of the week.
Everyone should have 6 months salary in savings and find ways to cut expenses.
The dollar was last worth a dollar in 1967, so what do you think it is worth now? What will it be worth by the end of this year?
Inflation WILL come and the government will just print more money and it will be $8 for a gallon of milk.
If you are not prepared for this, then you will have no one to blame but yourself.
Yes gas will go down a bit, but it will NEVER go to what it once was, as the speculators will return as soon as they see the stock market settle a bit.
I definitely am against the bailout, have I not made that clear? Evidently in some need for attention, certain posters to this blog have to find something wrong with everything I say, and since I AM BILL THE NEARLY ALMIGHTY, I will block you if you just keep this tit for tat crap up.
Warning to the wise.
Oh yes and I remind all to read Randy Alcorn's fabulous book "The Treasure Principle" again or for the first time! It will change your life.
Unlike matt here, we are not "throwing up our hands and letting God take over" we are investing in HIS Kingdom, just as He asked us to do.
"Give with a cheerful heart".
"where your treasure is, there will your heart be".
Good words.
Read the book!
Matt, if you are still reading, you will not be allowed on this so called "free forum".
I found your little blog and I don't appreciate it.
Go back to whatever hole you crawled out from and pester another blogger.
You are not convincing anyone here, and you are not welcome.
For those who think I may be harsh:
http://thebluntmatt.blogspot.com/
Another great book by Randy Alcorn is The Law of Rewards and along the same subject Business for the Glory of God by Wayne Grudem. Bill and I went to see Fireproof last night. WE LOVED IT!!! You can see a preview at www.fireproofthemovie.com
You are joking with the Wayne Grudem stuff, right? He has no basis with his commentary on social issues. I wish you idiots would stay out of politics since you have neither any understanding of it nor an open mind. Separation of Church and State!!!! It's in the Constitution!!!!!!!
It says that in the Constitution huh?
Can you show me where it says that in the actual Constitution, cause I stood right in front of the REAL one in DC and I read every word, and I didn't see that statement anywhere.
I have although, seen the letter Thomas Jefferson wrote to a Baptist church in Tennessee about separation of church and state, that the Supreme Court in 1954 used in a landmark decision.
You might want to go read that Constitution thing again buckwheat.
COngress shall pass no law with respect to religion. The way you whack job religious freaks interpret the bible i thought it would be an easy one for you to get. No religion in government...ANYWHERE!
For the education of the anonymous one here is the First Amendment in it's complete and original form:
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.
Where do you see "separation of church and state" in any of that?
Keep in mind, the colonists had been forced to be a part of the Church of England, and so in the new country they were establishing, they never wanted a government to do that again.
So, no STATE MANDATED CHURCH can be established.
Why is that so hard for liberals to read? It doesn't require a whole lot of interpreting.
No government Church. Far as I can tell, that hasn't nor ever will happen in the USA.
"The the free exercise thereof" is pretty clear, I can preach the Gospel ANYWHERE I WANT TO, and you can choose not to listen, read or acknowledge it. That includes school, work, public places, anywhere, you cannot tell me to stop talking about my "religion".
End of the lesson.
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