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OptimismFive Reasons for Optimism in the Present Financial Meltdown
By Steve Diggs

No, I wasn’t born yesterday.  And, yes, I am fully aware of what the financial markets, and the economy as a whole, have been like over the last several months.  But, in my experience, usually the only people who come out ahead by scaring others that the sky is falling—are the helmet salesmen.

So before you give up hope, let’s consider five facts as a counter balance to the evening news:

  1. Historically, it has always been darkest just before the dawn.  I don’t know the future.  But through the decades, many people have given up hope just before things began to improve.  In the 1930’s and 1973/74 the stock markets were terrible. Some people were predicting the collapse of our financial system.  But it came back.  In October, 1987 the stock market collapsed.  But within a year it had recovered.  And, that recovery began one of the longest and strongest bull markets on record.  Of course, no one can predict the future, but over the years, stocks have averaged annual returns of about 10 percent.
  2. No one can stop the clock.  The truth is: Shoes wear out.  Cars break down.  And, toasters stop toasting.  Sooner or later, pent up demand will take over and people will begin buying stuff again.  That will help spark the economy.
  3. Gas prices have tumbled!  Only months ago oil was at over $160/barrel, and the wizards of the market were predicting oil would top $200 per barrel.  Not so.  As I write this, oil is below $40 per barrel.  Gas that cost over $4.00 a gallon a few months ago is now at $1.76!  This has had the marvelous effect of reducing inflationary pressures.
  4. A possible break for first-time home buyers.  Now, please don’t misunderstand.  I am not telling anyone to rush out and buy a home.  But housing prices are comparatively low at present.  Interest rates are favorable.  Granted, much of this is because of stupid behavior by the regulators, the mortgage companies, and homebuyers.  But the fact remains, that, if you have cash for a substantial down payment and you plan to live in the home for an extended period, this may prove to be one of the great home buying opportunities of your lifetime.   
  5. Historically, the US economy has been one of the strongest in the world.  It is important to understand that this present recession is worldwide.  Some people believe that America may emerge before many other countries.  If that happens, it follows that money from all over the globe may flow into the US.  We might actually see a wonderfully healthy economy sooner, rather than later.
  6. Let’s remember that, ultimately God is in charge.  Paul gave some sage advice on how to handle our money—not not to trust too much in it. “Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.” (1 Timothy 6:18, 19)

Now, please understand, only God knows the future.  I don’t claim to have a crystal ball.  But remember, great markets often come when they are least expected. 

Steve Diggs presents the Re-Tooled & Re-Fueled and No Debt No Sweat! Christian Money Management Seminars at churches and other venues nationwide. Visit Steve on the Web at www.retooledandrefueled.com or www.nodebtnosweat.com or call 615-300-8263.  The author of several books, today Steve serves as a minister for the Antioch Church of Christ in Nashville.  For 25 years he was President of the Franklin Group, Inc.  Steve and Bonnie have four grown children whom they have home schooled.  The family lives in Brentwood, TN 




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