Possible Depression?

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NOV25

NOV25

Well-known member
#1
Nov 23, 2019
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386
63
#1
Some economic "experts" claim we are seeing the ingredients for a situation that could rival the 30's depression and utterly dwarf the 2008 recession.

What should we be doing (financially) as Christians in this time of change?

Should those blessed with the ability to remain working increase tithing or at least contact the treasury to inform them of extra fund availability for saints in need?

What should we be doing with our current investments?

Should we be considering the possibility of investment opportunity?

I would just like to say finances aren't my, and shouldn't be our, primary concern at this time, obviously prayer, worship, evangelism etc. far supersede this topic. However, as Christians we are commanded to provide for our family, for saints in need, to be good stuarts etc. What are some things you are dong or considering at this time?
 
Roughsoul1991

Roughsoul1991

Senior Member
#2
Sep 17, 2016
8,863
4,513
113
#2
NOV25 said:
Some economic "experts" claim we are seeing the ingredients for a situation that could rival the 30's depression and utterly dwarf the 2008 recession.

What should we be doing (financially) as Christians in this time of change?

Should those blessed with the ability to remain working increase tithing or at least contact the treasury to inform them of extra fund availability for saints in need?

What should we be doing with our current investments?

Should we be considering the possibility of investment opportunity?

I would just like to say finances aren't my, and shouldn't be our, primary concern at this time, obviously prayer, worship, evangelism etc. far supersede this topic. However, as Christians we are commanded to provide for our family, for saints in need, to be good stuarts etc. What are some things you are dong or considering at this time?
Click to expand...
Any of these long term prediction models are about as useless as climate change models.

The economy is extremely hard to predict due to the countless variables. It literally is a week by week thing. 1 unforeseen event can bring it to its knees. While another can shoot it back up.

Some experts are just talking out of fear.

But if you are worried about this. Read about the past depression and plan ahead. Obviously if you do any investing you need to do long term investments because short term are very volatile. And investments in gold or silver was a big thing in the past because if the dollar lost all its worth, the gold and silver would still be valuable. But the only trick is, is having it in small enough currency to be able to trade. So having a $1000 dollar gold bar wont help when you want $20 dollars of gas.

A Biblical person will fill the silo. Prepare for the drought or locusts. Start buying food storage and water. Necessary items. Hygiene etc. Our ancestors used everything, recycled everything, and lived on less. If you are truly worried about this, then it needs to become a reality in your mind. These events are not the type to wait on. Prepare and if it collapses then you will have already had a plan B,C, D etc.
 
Nehemiah6

Nehemiah6

Senior Member
#3
Jul 18, 2017
26,074
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113
#3
NOV25 said:
Some economic "experts" claim we are seeing the ingredients for a situation that could rival the 30's depression and utterly dwarf the 2008 recession.
Click to expand...
More fear-mongering. Since Western governments simple print money at will (no gold to back up any paper) chances are that there will be no *Depression*. But let's hope the evil Democrats are depressed when they are all behind bars.
 
Billyd

Billyd

Senior Member
#4
May 8, 2014
5,233
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#4
Billy's crystal ball says that the growth economy will be back by late summer. Covid19 will be a tale for history. The world will have a baby boom beginning in late December. It's warming up nicely and Billy's ice tea will be double what it is now by the end of May.
 
Nehemiah6

Nehemiah6

Senior Member
#5
Jul 18, 2017
26,074
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#5
Billyd said:
It's warming up nicely and Billy's ice tea will be double what it is now by the end of May.
Click to expand...
Hopefully by then Drs. Birx and Fauci will be criminally charged for their role in destroying the American economy.
 
Nehemiah6

Nehemiah6

Senior Member
#6
Jul 18, 2017
26,074
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113
#6
NOV25 said:
Some economic "experts" claim we are seeing the ingredients for a situation that could rival the 30's depression and utterly dwarf the 2008 recession.
Click to expand...
Since the Great Depression occurred a long time ago, people today should be aware of the underlying causes of that Depression:

1. The stock market crash of 1929 -- stockholders lost more than 40 billion dollars. Which would be like losing 400 billion today.

2. Large scale bank failures -- more than 3,00 collapsed by 1930 and more than 9,000 by the end of the decade. There was no such thing as deposit insurance.

3. Major unemployment and reduction in purchasing -- unemployment rose to 25% and as a result goods and services were not been purchased.

4. Extremely high tariff rates imposed by Congress -- which produced retaliatory tariffs by European nations, and both imports and exports dropped.

5. Serious drought conditions -- produced the Dust Bowl and reduced the production of crops.

If President Trump acts quickly and wisely, he can restore the economy and maintain a healthy environment. He will need to fire the fear-mongers, hire sane and sober people committed to the Constitution, and issue a Presidential Executive Order to override all the nonsense that is being perpetrated in the name of health. And veto all the foolish legislation which is being plotted and planned as a conspiracy against him.

Several countries DID NOT shut down, and are doing just fine.
 
E

EleventhHour

Guest
#7
#7
Nehemiah6 said:
Several countries DID NOT shut down, and are doing just fine.
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The ones that are doing just fine are those that acted quickly and were prepared.

Those that did not shut down, not sure which country that is.. I think the citizens who lost loved ones in those places should file a class action lawsuit against the government.
 
NOV25

NOV25

Well-known member
#8
Nov 23, 2019
977
386
63
#8
Nehemiah6 said:
Since the Great Depression occurred a long time ago, people today should be aware of the underlying causes of that Depression:

1. The stock market crash of 1929 -- stockholders lost more than 40 billion dollars. Which would be like losing 400 billion today.

2. Large scale bank failures -- more than 3,00 collapsed by 1930 and more than 9,000 by the end of the decade. There was no such thing as deposit insurance.

3. Major unemployment and reduction in purchasing -- unemployment rose to 25% and as a result goods and services were not been purchased.

4. Extremely high tariff rates imposed by Congress -- which produced retaliatory tariffs by European nations, and both imports and exports dropped.

5. Serious drought conditions -- produced the Dust Bowl and reduced the production of crops.

If President Trump acts quickly and wisely, he can restore the economy and maintain a healthy environment. He will need to fire the fear-mongers, hire sane and sober people committed to the Constitution, and issue a Presidential Executive Order to override all the nonsense that is being perpetrated in the name of health. And veto all the foolish legislation which is being plotted and planned as a conspiracy against him.

Several countries DID NOT shut down, and are doing just fine.
Click to expand...
Thanks Tucker, now back to the OP.

What should we be doing (financially) as Christians in this time of change?

Should those blessed with the ability to remain working increase tithing or at least contact the treasury to inform them of extra fund availability for saints in need?

What should we be doing with our current investments?

Should we be considering the possibility of investment opportunity?
 
MessageOfTheCross

MessageOfTheCross

Senior Member
#9
Sep 3, 2016
6,344
530
113
#9
Far too many believers make their plans, and then ask God to bless those plans. He never will! The idea is that you let God make the plans, and then those plans, are guaranteed of blessing.

God has a plan for every single believer, a plan that is tailored-made for the individual. And that goes for every single believer, whoever that believer might be. And if the believer will ask the Lord what that plan is, in other words, what the Lord wants that person to do, to be sure, the Lord will answer such a petition.

The Lord always has much more in mind than we realize. So, ask Him as to what He wants you to do, and to be sure He will answer.

JSM
 
MessageOfTheCross

MessageOfTheCross

Senior Member
#10
Sep 3, 2016
6,344
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#10
“For I know the thoughts that I think toward you, says the LORD, thoughts of peace, and not of evil, to give you an expected end. (Upon obedience to the Lord, with a sincere attempt to follow His Ways and Word, His “thoughts toward us” are always “thoughts of peace, and not of evil.”)” Jer. 29:11

“32 (For after all these things do the Gentiles seek (Gentiles had no part in God’s Covenant with Israel; consequently, they had no part in God’s Economy, and, basically, had to fend for themselves) for your Heavenly Father knows that you have need of all these things. (The phrase is meant to express the contrast between those who do not know the Lord and those who do. If we live for Him, ever seeking His Will, we have the guarantee of His Word, which He will provide for us. Is God’s Word good enough? I think it is!)

33 But seek you first the Kingdom of God, and His Righteousness (this gives the “condition” for God’s Blessings; His interests are to be “first”); and all these things shall be added unto you (this is the “guarantee” of God’s Provision).” Matthew 6

“24 And it shall come to pass, that before they call, I will answer; and while they are yet speaking, I will hear.” Isa. 65: 24

JSM
 
NOV25

NOV25

Well-known member
#11
Nov 23, 2019
977
386
63
#11
Roughsoul1991 said:
Any of these long term prediction models are about as useless as climate change models.

The economy is extremely hard to predict due to the countless variables. It literally is a week by week thing. 1 unforeseen event can bring it to its knees. While another can shoot it back up.

Some experts are just talking out of fear.

But if you are worried about this. Read about the past depression and plan ahead. Obviously if you do any investing you need to do long term investments because short term are very volatile. And investments in gold or silver was a big thing in the past because if the dollar lost all its worth, the gold and silver would still be valuable. But the only trick is, is having it in small enough currency to be able to trade. So having a $1000 dollar gold bar wont help when you want $20 dollars of gas.

A Biblical person will fill the silo. Prepare for the drought or locusts. Start buying food storage and water. Necessary items. Hygiene etc. Our ancestors used everything, recycled everything, and lived on less. If you are truly worried about this, then it needs to become a reality in your mind. These events are not the type to wait on. Prepare and if it collapses then you will have already had a plan B,C, D etc.
Click to expand...
I'm not worried for myself necessarily, I'm still working and I'm spending less money seeing how everything is closed. Less spending equals more money 🤪 However, some of the brothers and sisters at my local church have been laid off and it seems possible that some of their employers may go out of business, which raises question #2 in the OP.

The fact is the market is still down over 5,000 points (20%) from it's high two months ago on February 12th. Consider this, the recession of 2008 lasted nearly 2 years (taking nearly a year to lose 20%) we began seeing growth in 2009 and over the next 8 years we had growth of approximately 2% to bring us back up to where we were. Money doesn't rush back into the market as fast as it rushes out. If they were to announce a Covid-19 vaccine tomorrow we could still be looking at a year long recovery at best.

FYI, recession is typically defined as 2 consecutive quarter losses, fairly typical in the grand scheme of things, just part of our economy. Being aware of this now could help some folks and help them help others 😁
 
T

TheIndianGirl

Guest
#12
#12
Being opportunistic and buying "cheap" stocks right now seems wrong to me, especially with so many people dying. About a month ago, before this got serious, I did change my investment allocations and was beginning to track some stocks. However, I am now unable to track any stocks.

Generally I think we should help those in need in the church. However people in need should go through the church (and people in charge of the benevolence fund should decide how to give to people in need). Money is a tricky issue with friends, so that is something to keep in mind.
 
Roughsoul1991

Roughsoul1991

Senior Member
#14
Sep 17, 2016
8,863
4,513
113
#14
NOV25 said:
I'm not worried for myself necessarily, I'm still working and I'm spending less money seeing how everything is closed. Less spending equals more money 🤪 However, some of the brothers and sisters at my local church have been laid off and it seems possible that some of their employers may go out of business, which raises question #2 in the OP.

The fact is the market is still down over 5,000 points (20%) from it's high two months ago on February 12th. Consider this, the recession of 2008 lasted nearly 2 years (taking nearly a year to lose 20%) we began seeing growth in 2009 and over the next 8 years we had growth of approximately 2% to bring us back up to where we were. Money doesn't rush back into the market as fast as it rushes out. If they were to announce a Covid-19 vaccine tomorrow we could still be looking at a year long recovery at best.

FYI, recession is typically defined as 2 consecutive quarter losses, fairly typical in the grand scheme of things, just part of our economy. Being aware of this now could help some folks and help them help others 😁
Click to expand...
The slow recession recovery was in my opinion due to the poor economical decisions and policies of the Obama administration. Different people in government makes a big difference also.
 
MessageOfTheCross

MessageOfTheCross

Senior Member
#15
Sep 3, 2016
6,344
530
113
#15
Roughsoul1991 said:
The slow recession recovery was in my opinion due to the poor economical decisions and policies of the Obama administration. Different people in government makes a big difference also.
Click to expand...
Satan is the accuser of the brethren: The earth is the Lord's, and the fulness thereof; the world, and they that dwell therein. Psalms 24:1
 
Billyd

Billyd

Senior Member
#19
May 8, 2014
5,233
1,641
113
#19
If you moved to cash early on, it's probably time to go bargain hunting. Otherwise, just wait out the storm. I believe, if the democrats lose the election, including both houses of congress, the economy be booming just in time for the Christmas season. I also believe that the unemployment rate will be below 5%.

If you waited out the storm, you'll probably be out only three quarters of growth. You'll still have your investment.

All of this is JMHO.
 
NOV25

NOV25

Well-known member
#20
Nov 23, 2019
977
386
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#20
I went to Walmart for a few things this morning and noticed a large dumpster in front of one of the strip mall doors across the street. The sign was gone so I had to look on google maps to see what it used to be, Palm Beach Tan. Apparently they have 2 dozen locations in Cincinnati all reading temporarily closed, except for this one. I didn't see any other locations in the country so Im assuming they are a local business, but with approximately 24 locations this isn't just a tiny local business. Perhaps this was just a weak location nevertheless it represents a pull back and most likely job loss. I think we'll see more of this in the near future.

Anyone else seeing business closures?
 
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