DON'T PANIC!

I have been hearing many people expressing their concern over the economy lately. Since the bailout bill didn't pass and the markets plunged through the floor, rumors are abounding about another Great Depression looming, and some people have even decided to withdraw some of their money from the bank.

I can certainly understand people's concern about the current state of affairs, however - WTF IS THAT GOING TO ACCOMPLISH!? ISN'T THAT THE VERY SAME ACTION AND ATTITUDE THAT HELPED TO CAUSE THE GREAT DEPRESSION IN THE FIRST PLACE?

Maybe things are going to get worse, and maybe we are headed for another depression. But first of all we got through a similar slump (at least in the technology industry) in 2001-2003. Secondly - God is in control. I know that bad things still happen to Christians too, but let's look at the worst case scenario.

1. Let's say that we struggle financially and have a hard time paying our bills (which isn't too far from the truth).
2. We attempt to rent out the bonus room of our house to get extra income (we already rent out one of our bedrooms).
3. We can try to sell as much junk as we can think of that we don't really need.
4. Let's say that I lose my job.
5. Then what if we lose our house through foreclosure.
6. We would maybe have to declare bankruptcy.
7. We may have to then liquidate all of our savings and retirement accounts.
8. We would either move into an apartment, get a joint place with another family that is struggling, or beg our immediate family to let us move in with them - perhaps my mom or Amanda' parents would have mercy on us and let us live with them for a while.

Even if all of that were to occur - we still have each other, we still have our education, we still have our faith, and hopefully we'll still have our health (unless we can't eat of course). Because none of these things depend on the economy or anything material.

Sure, life would suck for a while. But we would make the best of it and we would get through it. And if we don't get through it then we'll go to heaven when we die anyway.

The biggest problem I have with the kneejerk reaction of doomsday predictors is this - withdrawing your money from the bank, selling your stocks, and spreading your fears to others (however justifiable they may seem to be) only serves to hurt the economy further. And besides that, THERE. IS. NO. BENEFIT. TO. IT.

Sure stocks and funds are lower than they've been in a long time. But you won't actually lose any money on them unless you sell them, and they will eventually go back up - almost guaranteed. And if your portfolio is diversified then in the long run you'll be fine, even if it takes a little while. Just hang on tight and ride it out. If anything, we should all put some more money in the market now that the prices are so low.

If there really are things that you can do to help yourself (such as tightening your financial belt, reducing your own debt, increasing your income, or stabilizing your job situation further), then by all means that seems wise and prudent.

Otherwise calm down, take a deep breath, say a prayer, take whatever action you can (besides actions that will exacerbate the situation), and just keep on truckin'.