Today is Sunday. Palm Sunday. CNN reports that the Federal Reserve, the United States Treasury Department, and JP Morgan Chase have worked out a deal for JP Morgan to buy the troubled Bear Stearns investment bank for $2/share, down from its high of over $150/share last year. Plus, the Fed also announced an interest rate cut to 3.25% today — on Sunday! So, what does this have to do with churches, large or small?
Just this — many financial commentators are suggesting that we may be in for a long and difficult economic ride here in the US. Some are suggesting even more dire consequences to the convergence of the falling US dollar, the subprime/credit crisis, rising oil prices, the stalled US economy, and the global securities market. In simple terms, when banks sneeze we may all catch a cold, and a really bad one at that.
I’m not a financial wizard, or a prophet, but I am concerned about the implications of the current economic situation for churches. If ever we need to apply Biblical principles of stewardship, now is the time. And now is the time to educate our members to do likewise. Lots of good financial programs are out there, and most hew the same line — no debt, pay cash, save more, spend less, give God that which belongs to God. These principles apply to churches, too. Is your church taking specific steps to anticipate a possible economic downturn? Or, are you just trusting by faith that everything will be okay? Or, is it all out of our hands? I’d like to hear your comments.
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