Who wants to be the bearer of yet more bad news with all the financial gloom and doom already out there? But something has come to my attention that I feel duty bound to share with my readers. (Here at ivman, we’re known for tackling the hard things as well as doing the fun things.) I’ve just read that uncertainty has now hit the Japanese banking sector. Read on, if you can take it….
In this past 7 days the following has happened in the Japanese banking world:
Origami Bank has folded.
Bonsai Bank announced plans to cut some of its branches.
Sumo Bank has gone belly up.
Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.
Samurai Bank is soldiering on, following sharp cutbacks.
Ninja Bank is reported to have taken a hit, but they remain in the black.
500 staff at Karate Bank got the chop, and analysts report that there is something fishy going on at Sushi Bank where it is feared that customers may get a raw deal!
All right, so I’m an incorrigible punster. Some would say, don’t laugh at him - it only incorriges him. But it does do the heart good to chuckle when times are unsettling. Here in America things are so bad that they’ve printed a new dollar bill:
But all joking aside, these financial woes are indeed worldwide and serious, particularly right before the elections here in the USA. There are so many huge issues out there at this time, but this one seems to be front and center, as it should be. As good as it is to be able to laugh a little, it’s definitely no fun at all to watch the stock market roller coaster, knowing that what little we have towards retirement is being affected by what’s going on in the market. That said, we know that God’s promises to care for His children are not dependent on or at the whim of this world’s economics.
What are some of you doing at this time in reaction to the financial situation? Do you have any words of wisdom to share?
quotation…
“I have been young, and now am old, yet I have not seen the righteous forsaken or his children begging for bread.” Psalm 37:25
=^..^= =^..^=
Rob
Q: What is the difference between a banker and a pigeon?
A: A pigeon can still afford to put a deposit on a Ferrari.
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on Oct 16th, 2008 at 7:58 am
Hebrews 13:5-6 “Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, ‘I WILL NEVER DESERT YOU, NOR WILL I EVER FORSAKE YOU,’ so that we confidently say, ‘THE LORD IS MY HELPER, I WILL NOT BE AFRAID. WHAT WILL MAN DO TO ME?’ ” (NASB)
Not watching TV helps a LOT in this area. How can we be content with God alone when we are bombarded with commercials/programs about stuff the world says we MUST have - and how can we maintain a right relationship with God while being bombarded with the sin that is portrayed on TV?
on Oct 16th, 2008 at 2:15 pm
@Laura - All I can say is amen!
on Oct 16th, 2008 at 2:26 pm
To someone just out of college, married and living off of a small income, this time is a little unsettling. Like Laura said, I choose not to watch TV. I check the news only twice a day, but I don’t check it for long or dwell on it. I’m saved. I’m going to heaven. What reason do I have to worry? I’m not here on earth for very long anyway; that is reason to rejoice!
I highly recommend reading Tom Brokaw’s “Greatest Generation.” It should be at your library. It’s about hard times and how ordinary people like us got through them and flourished. Excellent book.
on Oct 16th, 2008 at 2:54 pm
What am I doing? Nothing. Just sitting back and watching the show. My future is secure, no matter what happens. Actually, I find the whole thing rather amusing to see how the government and media are reacting. I also find it very interesting that it seems to be effecting all the big money countries. All over the world the governments are getting involved in the financial system. The beginning of the one world government? Maybe. Only God knows for sure. Then again, it could just be a passing bump on the road of life.
Is it affecting me? Sure. My husband and I lost about 25% of our 401-k’s as of September 30 which translates into 10’s of thousands of dollars. I can just imagine how much we’ve lost in October. But it’s only money. It’s not like we lost our freedom to worship or are being forced to go against the government to keep from sinning.
on Oct 16th, 2008 at 3:06 pm
I suppose the Kamikaze Bank would have to nose dive since it would never agree to a bail out.
Anyway, the times are unsettling, but what a great reminder of where we should really have our hope. Also, it is a mercy of God to reveal to us what idols we have constructed in our hearts and how we depend on them more than on His abundant provision.
As for wisdom, I would keep money in the markets if I already have it there, but I wouldn’t put any it, and I wouldn’t be in a hurry to pull it out. After all, before they were called “depressions” or “recessions” they were called “panics”.
on Oct 17th, 2008 at 9:50 am
I remain optimistic. Fortunes are made and lost in times like these, and I don’t have a fortune to lose.
on Oct 17th, 2008 at 2:13 pm
@Dave - It sounds like you are starting off your marriage in a wise manner. Keep your wants simple, and don’t get too mired down in what you cannot really change.
@Vikki - Isn’t it wonderful to know that no matter what happens to us here, it will still be all ok?! The Lord expects us to plan ahead (He told us to do like the ants do), yet when in spite of all our foreplanning He has something else in mind for us, it’s all right. I like your attitude!
@Michael - We’re doing just what you said - leaving our paltry little right where it is and just ride it out.
@Jonathan - Isn’t it liberating not to have a fortune to fret about?!
on Oct 17th, 2008 at 10:14 pm
I think the best part of this whole crisis thing is that even though no man can claim to have the perfect solution, our God is still in complete control. If the banks were to finally fold and all my money in it was lost, I would still be safe in the hands of a God who cares even about the sparrows. He promises that if we seek first His kingdom and His righteousness, then everything we need will be added unto us. He offers perfect peace to any who will put all their hope in Him.
on Oct 18th, 2008 at 12:36 am
I loved the Japanese puns, but the pigeon one made me laugh out loud! Like others have said, I don’t spend a lot of time reading/listening to the news. There’s nothing I can do anyway, other than use my money wisely.
on Oct 18th, 2008 at 9:34 am
Thanks for sharing Laura’s remarks. That passage was a big help for me a couple of years ago when I was trying to sell a property. And she’s right about TV - I haven’t had my own for years for mainly that reason. As far as banks (and mortgage brokerages, etc.), they’ve defrauded their neighbors, lied, stolen and/or cheated the system and hoped for their own golden parachute. The government may try to bail out the losers, but our Lord is always available for refuge, even financially. That passage from Hebrews and also Proverbs 3:9-10 both helped me a couple of years ago. They’re good reading for anyone who’s struggling or thriving - good for any financial situation.
on Oct 18th, 2008 at 1:23 pm
@Heather - Thanks for your testimony of trust in the One who is totally trustworthy.
@Carrie - Glad you enjoyed the puns. One person wrote and apparently missed the fact that they were puns and not serious. (This person needs to explore my blog in more depth….)
@Paul - I’m glad that Laura’s comment was an encouraging reminder to you. I know it was to me. Laura’s e-mail address is based on one of God’s names - Jehovah Jireh, which I think is great! He does! Thanks for your testimony of the power of God’s word to instruct and encourage us.
on Oct 18th, 2008 at 11:07 pm
I like vikki’s attitude also! But I have to comment on her last comment:
“It’s not like we lost our freedom to worship or are being forced to go against the government to keep from sinning.”
Well, that’s next — I think a lot sooner than we think. But even this will all work out for the good. I am praying that Christians will wake up and take a stand. We all know that the church grows stronger with persecution. It’s scary to think of the world our kids are growing up in, but they will be so privileged to suffer for our Lord who gave His life for us.
on Oct 21st, 2008 at 6:25 am
@julie - I like Vikki’s attitude and yours. I think that, barring the Lord’s soon return, I will get to live in some challenging days - days we have yet to know in the good ol’ USofA. For years I have been trying to prepare our kids for the fact that they will undoubtedly be raising their kids in a far different world than they grew up in. It seems that I may be a prophet. May the Lord’s grace sustain us as He has promised and may we believers face the coming persecution with joy.