Friday, 19 September 2008

More thoughts on financial matters

Well, there's some relief tonight in stock markets round the world. Personally I wouldn't be too sure that it's all over. Until banks stop giving credit to people who can't pay it back (which didn't just happen in the sub-prime market in the States), we'll keep sliding into trouble. Building an economy on credit must be madness. Certainly the hundreds who've lost their jobs in the past five days must think so.

My friend Luke (not Lehman) sent me a reflective email on Wednesday. Part of what he wrote was:
'It is unsettling to now witness a company that has been part of the US bedrock, slip into the sand! I now feel grateful not to be so closely linked to their family. The free hand outs I would have come to expect, stripped away, my security for the future gone.
'Which brings my thoughts back round to the solid Rock, we believe in. The inheritance I can look forward to, with 'fullness of faith'.'

That reminded me of an old song which our children sang at their recent holiday club, 'The wise man built his house on the rock. The rain came down and the floods came up. And the house on the rock stood firm.'

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