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  #1  
Old 8th May 2008, 02:05 PM
Ron Conte Ron Conte is online now
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Default Financial preparations

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  #2  
Old 8th May 2008, 05:32 PM
Climacus Areopagite Climacus Areopagite is offline
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amen. Hopefully we will all be led by God and figure out what we need to do
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  #3  
Old 8th May 2008, 05:54 PM
Ron Conte Ron Conte is online now
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[Ezekiel 7]
{7:1} And the word of the Lord came to me, saying:
{7:2} “And as for you, son of man: Thus says the Lord God to the land of Israel: The end is coming, the end is coming, over the four regions of the earth.
{7:3} Now the end is over you, and I will send my fury upon you. And I will judge you according to your ways. And I will place all your abominations before you.
{7:4} And my eye will not be lenient over you, and I will not take pity. Instead, I will set your ways upon you, and your abominations will be in your midst. And you shall know that I am the Lord.”
{7:5} Thus says the Lord God: “One affliction, behold, one affliction is approaching.
{7:6} The end is coming, the end is coming. It has been vigilant against you. Behold, it is approaching.
{7:7} Destruction is coming over you, who live upon the earth. The time is approaching, the day of slaughter is near, and it is not of the glory of the mountains.
{7:8} Now, very soon, I will pour out my wrath upon you, and I will fulfill my fury in you. And I will judge you according to your ways, and I will set upon you all your crimes.
{7:9} And my eye will not be lenient, nor will I take pity. Instead, I will place your ways upon you, and your abominations will be in your midst. And you shall know that I am the Lord, who is striking.
{7:10} Behold, the day! Behold, it approaches! Destruction has gone forth, the rod has blossomed, arrogance has germinated.
{7:11} Iniquity has risen up into a rod of impiety. There shall be nothing left of them, and of their people, and of the sound of them. And there shall be no rest for them.
{7:12} The time is approaching; the day is very near. Whoever buys should not rejoice. And whoever sells should not mourn. For wrath is over all of their people.
{7:13} For whoever sells will not return to what he has sold, but as yet their life will be among the living. For the vision concerning their entire multitude will not turn back. And man will not be strengthened in the iniquity of his life.
{7:14} Sound the trumpet! Let everyone be prepared! And yet there is no one who may go to battle. For my wrath is over all their people.
{7:15} The sword is outside, and the pestilence and the famine are inside. Whoever is in the field will die by the sword. And whoever is in the city will be devoured by the pestilence and the famine.
{7:16} And those who flee from among them will be saved. And they will be among the mountains, like doves in steep valleys, with everyone of them trembling, each one because of his iniquity.
{7:17} All hands will be weakened, and all knees will flow with water.
{7:18} And they will wrap themselves with haircloth, and dread will cover them. And shame will be upon every face, and baldness will be upon all of their heads.
{7:19} Their silver will be thrown away, and their gold will be like a dunghill. Their silver and their gold will have no power to free them in the day of the fury of the Lord. They will not satisfy their soul, and their bellies will not be filled, because of the scandal of their iniquity.
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  #4  
Old 9th May 2008, 01:30 PM
St. Thomas More St. Thomas More is offline
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Default Financial Preparations

So, the Warning is predicted for Friday, April 10, 2009, in the morning. The Day of Consolation is that Sunday (Easter). The markets will (probably) open the following day. Here are some things to consider for the days, weeks, and months after the Warning:

What shape will the economy be in by then? It appears that the US and world economy is stumbling, to say the least. A bottom of 7,800 on the Dow has not yet been tested, and appears possible, to some. We may be in a state of recession or depression by the time of the Warning.

Will there be a run on banks? As we know, banks hold a small amount of reserves (less than 10%). A run on banks would render branches unable to meet the demand for customer withdrawals, at least temporarily. This could be disastrous.

What will happen to the stock market? Most people either directly or indirectly (through pension plans) have investments in the stock market. A sharp decrease or crash in the markets will have a profound effect. If you have investments, is it wise to convert them to a moneymarket beforehand? To get them out? What if there's a withdrawal penalty? To convert it to cash?

What will be the effect on oil? precious metals? bank stocks? etc?

Being forewarned is forearmed. It's not necessary to profit off this, but if we can avoid losses or further deterioration of assets, that might assist us in preparing ourselves, and others, for the difficult road ahead.
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  #5  
Old 9th May 2008, 04:31 PM
Bertrand
 
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As you may read in the papers, the investing community, most notably Hedge funds, have recently started to invest massively in agricultural commodities, such as rice and wheat as supply is already struggling to meet demand. Many producing countries are now limiting exports. Gold and oil are at all time highs but if the economy slows down, gold will continue to climb as oil will come down. If the economy collapses, nothing will be worth more than food related commodities.

During WWII, Europe experienced massive food shortages. To find supplies people would go to farms where you could find eveything if you could pay the price: cattle, cereal, milk, eggs, etc... Today however, the picture is very different. From a situation where you had a great number of small farms producing everything, you now have much fewer, much larger farms being very specialized. therefore, if communication channels are disrupted, finding food will be very, very, very hard.
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  #6  
Old 10th May 2008, 04:39 AM
Brendan Brendan is offline
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This could potentially be a very speculative discussion so I believe it is prudent to offer all angles and not just one view.
First, the current state of the US and World economy: as you probably know, we are in a sideways pattern of growth; sometimes indicating negative growth, other times indicating positive growth. This has always occurred. The economists and market analysists of today, unfortuanetly, have a tendancy to use the 'don't worry, as is well' mantra. However, with the recent collapes of Bear Stearns in March 2008, you have to wonder what 'truth' is being told and what 'truth' is being held. (1 day before the collapse of Bear Stearns, the CEO said all rumors were unfounded) and the company lost $3.5 billion in 1 day. So the general market/economic environment, I belive, has become almost a falsehood as to what is reported. With that being said, the rest of the year will prove to be challenging. I am nearly in daily contact with market analysts and portfolio managers. And, as you would expect, no answer is the same. But currently, what I see, is that we are entering a period of stagflation: a condition of relatively slow economic growth and increasing prices (inflation). It is truly the worst of both worlds. Please keep in mind, I see this only currently in the US economy (China and India are still growing tremendous GDP figures compared to US). So, the reasonable question is, how does one prepare and live during stagflation? The answer lies directly within our faith: in simplicity and living below our means.
The bad news is the oil will continue higher for the second quarter in 2008, maybe flatten in the third quarter and perhaps decline in the fourth quarter. However, that is purely from a fundamental standpoint; if terror attacks occur in oil producing nations, if OPEC decides output is growing to fast, if China and India continue their enormous thirst, we could see a steady increase throughout 2008. That means, most other prices will increase while unemployment will creep higher. I have heard this current enviornment a 'classic stagflation period of '72 and '73.'
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  #7  
Old 10th May 2008, 06:23 PM
garabandalg garabandalg is offline
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Default This thing is getting complex for sure

The whole economic and financial aspect of this is just another angle to consider. It seems, as is so often the case, that events have so many sides and angles to consider that we sometimes cannot even fully and adequately grasp them all. That is why some reasonable attention plus faith in God will help so much.
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  #8  
Old 10th May 2008, 06:59 PM
Climacus Areopagite Climacus Areopagite is offline
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{7:13} For whoever sells will not return to what he has sold, but as yet their life will be among the living.

~I was thinking one day about what will happen to all those people who have debit such as mortgages, car payments, etc. Their is no way the government could impound houses and cars and businesses on a mass scale if payment isnt recieved because of economic strain. Or maybe the government will imprudently attempt to do something and this would add fire to the civil strife. Just some stray thoughts

{7:18} And they will wrap themselves with haircloth, and dread will cover them. And shame will be upon every face, and baldness will be upon all of their heads.

~"baldness will be upon all their heads" Ron do you know the meaning of this metaphor? One runs into this expression a lot in the books of the Prophets. Maybe it means that because of the wrath of God the joy and exuberance of life will be taken away from them since hair I think is a symbol of flourishing life.

Last edited by Climacus Areopagite : 10th May 2008 at 07:49 PM.
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  #9  
Old 10th May 2008, 08:16 PM
Ron Conte Ron Conte is online now
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I think that there are many levels of meaning to passages such as this in Scripture. I couldn't say what all the possible meanings are.
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  #10  
Old 10th May 2008, 08:21 PM
sammy sammy is offline
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I do not know the answer to financial preparation but as a general rule of thumb, simplify and downsize. I am in a position where I can afford just about anything I want but my wife and I live a frugal life. We will be selling my mercedes and I will get by in my scooter. We will keep our suv( 1 car) for family outings. We are selling one of my 2 offices that is 17 miles away and keep the practice 3 blocks from our home, then we are going to sell our home and renovate the upstairs of the office building and live above where I work. We will move down from 5000 sq. feet into 3500 sq. feet. We have brought our monthly credit card expenses down by 70% in the last year by simply saying no to waste. Eliminating stuff also has the benefit of having less to care for and giving us more time for God. Sammy.
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