Economics 101
"The Difference Between a Recession and a Depression - A recession is when someone you know loses their job. A depression is when you lose your job." - Unknown
Friday was a rough day for me. After going to work, my co-workers and I were called into a meeting and informed that our company was having a lay-off and that some our co-workers lost their jobs. By the grace and mercy of God, I wasn't impacted. Though I felt in my spirit for some months that this was coming, the reality of it was a bit hard to swallow. Of course I went into financial panic mode. No more eating out, canceling the trip to India, and calling my client to ensure that my check was in the mail. I want to make sure I have a solid savings of at least 6 months tucked away. I canceled India because I know that the trip will burn about a month's worth of pay between time off and the actual cost of the trip. Out of caution, I want to preserve whatever leave time I have and put anything additional into savings.
The lay-off has necessitated that I work more OT in order to help share the work load. I almost didn't write this entry because I'm so tired but I didn't want to go too long without a new entry. I'm thankful that I have a job to work though I am tired. I want to make sure I take the time to listen to the Lord regarding my job situation and the state of the economy going forward. I've held a pessimistic view of the state of our economy over the next year or so. For some reason, I believe that things will get a lot worse before they get better. I believe the Dow will tank somewhere around 5,000 I believe the best position to be in is cash (be as liquid as possible) and to be as debt free as possible. Why am I so pessimistic?? I believe this is what God has told me...the same way he told me to sell all my investments in November 2007, and to stay out of the market until He tells me otherwise. I could be completely wrong. But the weird thing is that after I moved all my investments in 2007 into their individual cash portfolios, the market tanked by like 30-40%. So maybe this isn't me talking to myself in my head.
Friday was a rough day for me. After going to work, my co-workers and I were called into a meeting and informed that our company was having a lay-off and that some our co-workers lost their jobs. By the grace and mercy of God, I wasn't impacted. Though I felt in my spirit for some months that this was coming, the reality of it was a bit hard to swallow. Of course I went into financial panic mode. No more eating out, canceling the trip to India, and calling my client to ensure that my check was in the mail. I want to make sure I have a solid savings of at least 6 months tucked away. I canceled India because I know that the trip will burn about a month's worth of pay between time off and the actual cost of the trip. Out of caution, I want to preserve whatever leave time I have and put anything additional into savings.
The lay-off has necessitated that I work more OT in order to help share the work load. I almost didn't write this entry because I'm so tired but I didn't want to go too long without a new entry. I'm thankful that I have a job to work though I am tired. I want to make sure I take the time to listen to the Lord regarding my job situation and the state of the economy going forward. I've held a pessimistic view of the state of our economy over the next year or so. For some reason, I believe that things will get a lot worse before they get better. I believe the Dow will tank somewhere around 5,000 I believe the best position to be in is cash (be as liquid as possible) and to be as debt free as possible. Why am I so pessimistic?? I believe this is what God has told me...the same way he told me to sell all my investments in November 2007, and to stay out of the market until He tells me otherwise. I could be completely wrong. But the weird thing is that after I moved all my investments in 2007 into their individual cash portfolios, the market tanked by like 30-40%. So maybe this isn't me talking to myself in my head.
Comments