Faith Farm

Economic Recession?

Good Morning!  We woke to a sheet of ice on everything....that makes things a bit interesting!  I think I'll wait a bit and see if it stops before I try to thaw out the gates.  The sun is starting to rise (behind the clouds) so it really is an amazing sight.  Everything looks like glass.  The children are slow to rise this morning and I think I'll just let them sleep in a while.  DH has already gone to scrap ice....I've got chili started in the crock and the laundry mostly done.  The cast iron kettle on the wood stove is sizzling with steam.....I made a good pot of coffee this morning....I think I'll just enjoy the peace.  I wanted to share a bit of economic news with you this morning-First the world markets (yep-all of them) took a heavy loss on Mondays trade (our was closed for holiday)....due to worries of US Recession and economy, some markets took losses equal to the loss of 9/11/01---Tuesdays trade in Asian Markets took another heavy loss-European Market is down but not sinking like yesterday-their still trading.   Ok why am I telling you this........Because this is going to have an affect on us today.  Our stock market is expected to open down 500pts.  There is alot of talk about US recession causing a global recession---the definition of a recession is:   a period of two quarters of negative GDP growth. Some would argue we have already been in a recession.  The definition of a depression is:   as a recession that lasts longer and has a larger decline in business activity.  So how can you tell the difference between the two? In general by looking at the changes in GNP. A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe. Now Congress is claiming they will be passing the stimulas package today--The urgency should tell us something---Maybe I'm just being mean-but when does Congress move fast on anything?  I am not telling any of this to cause fear or worry-I am just making note of this because I feel it is important to pay attention to whats going on around us--I know God has us in His hands--but for many a time of economic hardship will be very difficult.  We have become accustom to an easy life compared to many in this world and I think that there are so many people who will not know what to do.  It is a time to be prepared and be a blessing to those in need.  Please pray with me today regarding these matters.  Blessings> faithfarm

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{ 09:15, Tuesday, January 22, 2008 } { Posted by keeperofmyhome }

Faithfarm,
I just wanted to say again how I appreciate your efforts to bring awarness of the importance of being prepared. Our "easy" lifestyles will certainly be our downfall if we don't wake up and realize that the easy life style is not a guarantee in our future. Hard times are a fact of life.
God's blessings
Lea

Prepared

{ 09:15, Tuesday, January 22, 2008 } { Posted by gokings13 }

I 'hear you' and am in agreement.
I have had a 'gnawing nudge' that now is the time to start being more prepared.
Not paranoid, not panicked, not psychotic, but prepared.

Laura

Thank You

{ 09:18, Tuesday, January 22, 2008 } { Posted by browns71280 }

I am glad to see that I am not the only person that is watching what is going on. I have been preparing our home for the last couple of months. I too don't want to be an alarmist, but I also don't want to be unprepared.
Debbie

Edited by browns71280 on Tuesday, January 22, 2008 at 08:19

Thank you!

{ 10:34, Tuesday, January 22, 2008 } { Posted by Amanda }

Thank you for taking the time to explain this. I was just fixin' to get online and research the difference between a recession and a depression after reading the morning news.

The last "refund" was really a loan. It had to be paid back at tax time. Does anyone else remember that one? Will this be the same thing?

Using this "refund" on preparing for future events is a wise decision.

Thanks for keeping us informed!

Amanda <><
II Corinthians 5:7

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{ 07:54, Wednesday, January 23, 2008 } { Posted by MamaDuke }

We have been watching the news, too (and trying to prepare for what's coming). I know that the Lord is watching over us, but even the Bible says that the ants prepare for the winter (believe it's in Proverbs) by storing up food in the summer. We should follow the same idea. So, we're preparing as well as we can. I just don't think the "bandaids" are going to work much longer (i.e. reducing the interest rates). We'll just have to watch and see. Thanks for the post.
Meredith (humble beginnings)