Financial Crisis

The financial crisis has brought to us many woes. One very obvious effect was the tsunami of job losses worldwide. In the Philippines alone aside from the job cut of Intel Corp., there are also job cuts on other sectors as well. But did you know that there are also many financial crisis suicide that are happening? I read a news about the German billionaire named Adolf Merckle who was caught in the financial crisis. Merckle was a respected businessmen with a wife and four children, jumped in front of a train in the town of Blaubeuren in southwestern Germany. You can read the details here. Not only in Europe but also in the U.S. and in Japan. And in Japan the suicide rate  is expected to soar. In the U.S. the numbers are mounting.

So what is the cause of this global economic crisis? We all heard in the news that the reason is the drying up of funds from financial institutions. But what is the reason behind it? I can’t tell either but I read a post in moolanomy.com What Caused The Financial Crisis Of 2008 , And on his opinion, it was GREED. One example he gave was on mortgage lenders. Since majority of the people can’t afford mortgage, they are willing to lend money to them because they are able to charge more interest rates and make more money on sub prime loans. If the borrowers  default, they will seize the house and sell it again. That was an easy money isn’t it? The same thing on credit cards. They lend money to borrowers and charge excessive interests and surcharges. And after the borrower can’t pay anymore, they will do everything to squeeze the poor borrower.

With all of these things that are happening maybe God is telling us something. Even if  you read the Bible there is a passage warning us about greed.

Then he said to them, “Watch out! Be on your guard against all kinds of greed; a man’s life does not consist in the abundance of his possessions.” Luke 12:15 (New International Version)

So we should watch out. I just can’t imagine why there are people who posses so much and can’t consume even up to their third generation and can’t even share their blessings. Maybe that is how the world goes. But how about those poor individuals? there are many who were on the poverty line and much more below poverty but the Lord have a promise to those who call upon him. Even if it gets worse because of the global economic crisis and many job losses there is one thing for sure. God is in control. So with that I’ll give you an encouraging verse that I have proven myself to be true. This is what King David said in Psalm:

I was young and now I am old, yet I have never seen the righteous forsaken or their children begging bread. Psalm 37:25 (New International Version)

Posted by Manuel

Manuel Montala was an online entrepreneur who enjoys blogging about entrepreneurship and gathering information for his blog to help budding entrepreneurs. You can also reach him on twitter: http://twitter.com/mmontala

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