Markets Tumble, but Love Not the World

Yesterday was another troubled day in the financial markets:

MARKET SNAPSHOT: U.S. Stocks Blasted By Economy To End At Five year-plus Lows
November 19, 2008

U.S. stocks thudded sharply lower on Wednesday to finish at more than five- years lows, with financial powerhouse Citigroup Inc. pummeled by its greatest ever one-day percentage drop as fears intensified about its fate as well as the U.S. auto industry…

The Dow Jones Industrial Average (DJI) slid 427.47 points, or 5.1%, to 7, 997.28, its lowest close since March 31, 2003.

All of the Dow’s 30 of its components finishing lower…

In other trade on the New York Mercantile Exchange, gold futures climbed, with the contract for December up $3.3 to finish at $736 an ounce. .

Demand for gold coins and bars increased in recent months, even as gold futures fell far from record highs above $1,000 an ounce hit in March, according to a industry report. .

Data clouds

Earlier in the day, the Labor Department reported consumer prices dipped a record 1% in October, driven by an 8.6% drop in energy costs. .

“There’s no relief in the beleaguered housing market,” analysts at Action Economics said of the Commerce Department’s estimate that new-home construction fell to a record low in October.

In a related report, the Mortgage Bankers Association said mortgage applications fell a seasonally adjusted 6.2% last week from the prior one, as lower interest rates on fixed-rate mortgages failed to stir prospective home buyers.

In comments early Wednesday, Federal Reserve Vice Chairman Donald Kohn said regulation is the best means of preventing another financial crisis.

European stocks also fell, with banks getting hit for a third straight session.

In Asia, stocks closed mostly lower. .

On Tuesday, U.S. stocks ended higher after a run-up in the final hour of trade, with the Dow Jones Industrial Average striking its third advance in 10 sessions. (http://money.cnn.com/news/newsfeeds/articles/djf500/200811191751DOWJONESDJONLINE000897_FORTUNE5.htm)

It is astounding that “regulation” is the proposed solution. I would suggest that repentance and turning towards God is the only real solution.

Regulation may delay the inevitable, but the continuing of national sins and increased government spending leading to increased debt will ultimately lead to the creditors of the USA destroying it. Notice what God had Habakkuk record would happen in the end times:

2 Then the LORD answered me and said:

“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry…

6 ‘Woe to him who increases
What is not his–how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty.
8 Because you have plundered many nations,
All the remnant of the people shall plunder you (Habakkuk 2:2-3,6-8)

Now here is verse 5, from the NIV, which gives part of the reason why:

Because he is as greedy as the grave and like death is never satisfied (NIV).

Thus, national greed leading to debt will lead to creditors rising up and destroying the United States in the end time. This is part of the message that God gave to Habakkuk around 2500 years ago. And these times are just about upon us.

Christianity Today reported:

I imagine you may be paying more attention to the market news. Our 401Ks have turned into a 201Ks! The markets are in transition. Most likely this recession will not be quickly fixed with bailouts and the lowering of interest rates. The unraveling of our security seems to be happening at unprecedented speed, leaving many disoriented and stressed…

Two young men shared with me some temptations they were dealing with. In that moment as they were sharing, I was quickly reminded of what my father-in-law told me twenty years ago before I entered the pastorate. He said, “Dave, be careful of the big three: money, interactions with women, and pride.” As I recalled his words with these two promising leaders whom I deeply love, the words from I John 2:15-17 flooded my soul.

Love not the world. Neither the things in the world. For anyone that loves the world, the love of the Father is not in Him. For all that is in the world,
The Lust of the Flesh.
The Lust of the Eyes.
And the Pride of Life.
Is not of the Father but is of the world.
And the world passes away and the lusts thereof. . . But he that does the will of God abides forever.(Gibbons, Dave. God’s Voice in the Global Market Meltdown. November 18, 2008)

And while I normally disagree with the falsely named Christianity Today, I felt the above comments were appropriate and conveyed the fact that Christians are not to love the world.

The carnal world is passing away, but it will be a rough ride at times, sometimes even worse than that.

Several articles of possibly related interest may include:

Can the Great Tribulation Begin in 2009, 2010, or 2011? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be devastated first?
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled since he is to be the USA president?