"Let everyone who is Godly pray to you while you may be found"  (Psalm 32:6)

Bear Stock Market, Consumer Debt, Recession


If you do not obey the voice of the LORD... to observe carefully all His commandments... Locusts shall consume...the produce of your land... so the LORD will rejoice over you to destroy you and bring you to nothing (Dt 28:all, but esp. 15, 16, 42, 63). Wail, you who minister before the altar... lie all night in sackcloth, You who minister to my God; For the grain offering and the drink offering Are withheld from the house of your God (Joel 1:4, 13).

In the past 12 months, the technology stock index has dropped from 5000 to below 1900 points. Millions have seen their retirement investments vanish. Our economy is recession bent with massive new layoffs being announced every day. The Bible promises economic curses upon nations that ignore God and His commandments.

--The Stock Market officially entered "bear" territory this week. Sir John Templeton, patriarch investment advisor, compares the crash of 1929 with the market dive of the past year. "How high were the prices [in 1929] in relation to earnings? The maximum was 29 times earnings. Now, in the recent bubble, the Nasdaq went up to 300 times earnings and is still over 100 times earnings, even now." Templeton said we might be facing "a nine year bear market." The decline in stocks during the past year has wiped out some $3.7 trillion in American wealth.
http://www.newsmax.com/archives/articles/2001/3/20/210621.shtml --Consumer Debt is rising. While stocks have plummeted and the economy softened, Americans have gone on a credit binge. Consumer credit grew by $16.1 billion in January, more than doubling the $7.1 billion gain in December. American consumers are carrying $531 billion in credit card debt alone - that does not include home equity lines, personal and auto loans. Consumer credit outstanding totaled $1.562 trillion in January. Many borrowing Americans will face catastrophic financial problems if the economy continues to turn down (From March 7, Dow Jones Newswire).
--Recession is on the lips of Washington policy makers. The Fed dropped the interest rate by 1/2 point for the third time in 2 1/2 months this week, saying it remains on alert since quickly moving developments could tip the sluggishly growing economy into recession. http://www.washtimes.com/business/default-2001321215512.htm

Thank God, we have a new President who is working on tax reform and other measures that will help the economy. But our nation's economic problems are a reflection of our more serious spiritual problems. Only if God's people wholeheartedly live out 2 Chronicles 7:14 and God sends history making revival in the Church and Awakening in the land will America find healing and God's blessing. Until then, God's increasing judgments will impact all of us.

Please Join Us in Agreeing Prayer:

-Heavenly Father, GRANT CLEMENCY! We deserve Your Judgments. GRANT REPENTANCE to Your people. Let the Church in America RETURN TO YOU & ARISE TO BE THE CHURCH to our dying nation (Ex 34:6-9; 2 Chr 7:14).

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