Debt versus equity financing

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Debt Financing vs Equity Financing

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The Price of Continuing An Economic Shutdown Is Too High [Video]

16319744852_a321475e85_kThe last few weeks of the virtual shut down all over the globe because of CCP virus has down more than simply keep most people confined to their homes. It has also brought the largest economic power in the world to a standstill.

In America, President Trump is voicing a strong desire for the economy to begin moving once again and the sooner the better. He is facing severe criticism for such sentiments from various outlets in the Leftmedia and all its incarnations on the internet.

These attacks are fueled by the fears of the CCP virus spreading and causing widespread death in America. However, as is increasingly becoming clear, the Left seems invested in ensuring that the level of panic over this disease is raised as high as possible and that America is kept under lockdown and out of business for many months to come.

Which option is the right one for our nation and for the world? The President has given the correct and truly only rational path to tread when he said,

We cannot let the cure be worse than the problem.

America Must Get Back to Business

Inset 1 3/29/2020During our self-shutdown in America, the amount of economic damage done by the inactivity is monumental, and without quick and decisive action, there may not be an economy left to rescue. It is imperative that America gets back to business as soon as possible.

The reasons for this are apparent. First of all, the workforce has already been devastated by the shutdown of businesses across the country. The following is an economic activity chart concerning the restaurant industry posted on Twitter by Andy Pudzer.

 

View image on Twitter

This was put together about a week ago and clearly shows that the bottom has fallen out of the restaurant business in America. This means that a major industry employing millions of people has just ceased operations altogether.

Take note that this represents but one segment of the thousands upon thousands of businesses large and small across the nation which have entirely shut down in obedience to either state order or strong suggestions by government authorities. There is no guarantee that these jobs will still exist if a nationwide “restart” is delayed even two or three weeks.

Another factor amid all of this is the unprecedented act of literally shuttering the doors of American businesses while the economy was booming. Though it is not 100% of businesses, consider these that are not allowed to operate in California today.

Restaurants, auto dealers, real estate, most manufacturing, warehousing, bars, bowling alleys, construction, airlines, shipping, and many more are shut down and all have bills to pay as a business. Many small business owners still have rent or mortgage payments on the buildings and equipment they use for their operation that could be delayed but will still require payment or the business goes under.

The number of people this is affecting is reflected in the fact that last week 3.3 million Americans filed for unemployment benefits. That smashed the previous record of 695,000 jobless claims for one week.

That pace would mean that another six weeks, there would be more than 12 million unemployed in the nation. Those who are panicking over wild predictions of death and doom are demanding at least a month longer and that would result in massive unemployment numbers approaching a 30% unemployment rate which is 5% higher than the Great Depression at its worst point.

The longer this continues, the greater the chance of an economic collapse in America, one which will rival, if not surpass the Great Depression era of nearly a century ago. The only solution is to end this forced lockdown quickly and get the economy going again, period.

What About the Risk?

Inset.2.3.29.2020The natural question becomes what is to be done about the risk of contracting the CCP virus when the nation is restarted economically? Here is where the Leftist fearmongers incite a panic both intentionally and out of ignorance.

The argument from the Left is that the risk of contracting and dying from the CCP virus is too great to allow any reopening of the country for several months. They say in many arenas that to speak of restarting the American economy in weeks instead of months is favoring ‘profits over people.’

These people on the Left seem to believe that there must be zero risks from the CCP virus before we contemplate returning to some semblance of normality in life and commerce and to suggest otherwise is tantamount to saying you want people to die. That kind of attitude sparks some to raise the level of fear with commentary like this from Chris Hayes a few days ago on MSNBC,

It’s not a question of if the economic shutdown is absolutely brutal for Americans…, of course it is. It’s just that those on the right and in the business world talking to Donald Trump are just misreading what the choices are right now. There is no option. If you just let everyone go back out and go back to normal if a pandemic rages across the country and infects 50% of the population and kills a percentage point at the low end of those infected and also melts down all the hospitals. What kind of economy do you think you’re going to have under those conditions?

These remarks are intentionally misleading half-truths pumped up with hyperbole to elevate the panic level as well as take another Leftmedia shot at President Trump. The figure of 50% infections in the country is, as Buck Sexton points out on his March, 24th podcast, a generous estimate over 3 flu seasons of the total who could be infected if we took no measures at all against the virus! 

Secondly, no one is suggesting, not even President Trump, that the nation should simply disregard this virus and go back to ‘normal’ as if nothing at all had happened. Proper precautions should be taken by individuals and businesses to reduce the risk of infection, however, as a society, we are going to have to accept a certain level of risk or expand the suffering to everyone else.

Inset.3.3.29.2020This is a true balancing act between the risk of infection and a probable increase in the number of people who will die and the risk of tens of millions of Americans becoming destitute and requiring government assistance for the foreseeable future. The Left, however, sees this as an opportunity to put into place a Socialist government on which all Americans are dependant.

One of the proofs of their intentions was the numerous delays in voting upon a relief package for Americans as the lockdown continues. After passing a smaller first relief bill on March 18th, the Speaker of the U.S. House of Representatives, Nancy Pelosi [D. CA], refused a vote on further proposals and instead introduced another bill that provides funding for a plethora of Socialist policies.

“The country is burning and House Democrats would rather delay passage of direct relief to working families and small business so they can manipulate the way we conduct elections, bail out the postal service, impose greenhouse gas mandates on the airlines, and ensure diversity on corporate boards,” Rachel Bovard, Senior Director of Policy at the Conservative Partnership Institute told the Daily Caller. The bill also reportedly gives unprecedented collective bargaining powers for unions, increases fuel emissions standards for airlines and expands wind and solar tax credits.

That version of the bill mercifully failed, however, the bill which finally did pass both the House and Senate, and was signed into law still includes a lot of spending unrelated to the CCP virus crisis. It is certain that this extra spending will come back to haunt us in the future but for now, the level of fear and panic seems to require some unusual behavior.

However, it is very questionable that the current level of fear is justified. After wild predictions of millions of deaths in the early weeks of the CCP virus, we are beginning to get a clearer picture of reality, as this video by Dr. Birx, a member of the President’s task force, demonstrates.

A quick comparison to a normal flu season can show how shutting down the economy for more than a very brief period is an extreme over-reaction. Currently, there are 120,000 cases of CCP virus in the U.S. and almost 2,000 deaths as a result.

Here are the CDC figures for the last flu season of 2018-2019 in America.

CDC estimates that the burden of illness during the 2018–2019 season included an estimated 35.5 million people getting sick with influenza, 16.5 million people going to a health care provider for their illness, 490,600 hospitalizations, and 34,200 deaths from influenza (Table 1). The number of influenza-associated illnesses that occurred last season was similar to the estimated number of influenza-associated illnesses during the 2012–2013 influenza season when an estimated 34 million people had symptomatic influenza illness6.  …34,200 deaths in the United States alone. And yet we didn’t shut down one single thing.

Not only that, but Americans weren’t even practicing “social distancing” or panic-buying during that flu season. We all went about our business as we normally do any other time.

The biggest difference with the CCP virus is that we are dealing with a new factor whose parameters are poorly understood. We often fear what we don’t understand and this causes extreme reactions that cause far more harm than good.

Yes, it is and will be difficult to endure this battle with a horrible disease, and there will be an increased risk of infection and death with the reopening of America. But the risk of waiting is far greater than anything this virus will inflict on the public.

Let us around the nation and the globe instead renew our trust and hope in the LORD for wise guidance, hope and the courage to risk living in His light today and every day. For there is nothing that can overcome His power and love.

But this I call to mind, and therefore I have hope: The steadfast love of the LORD never ceases; his mercies never come to an end; they are new every morning; great is your faithfulness. Lamentations 3:21-23 [ESV]

D.T. Osborn

Sources: The Holy Bible, English Standard Version, Crossway Bibles, 2001

Featured and Top Image courtesy of Mike Mozart’s Flickr page – Creative Commons License
Inset Image 1 courtesy of Dan Keck’s Flickr page – Creative Commons License
Inset Image 2 courtesy of yuanstone’s Flickr page – Creative Commons License
Inset Image 3 courtesy of velk0’s Flickr page – Creative Commons License

All other sources linked or cited in the text

Originally published in TIL Journal

House of Prayer

The bobbing little heads are so thankful to see me this morning. They’re grateful for the seed I throw their way. It is amazing they know it’s safe to fly out of the trees and eat, so long as I am there. Perhaps I am… a house of prayer for all my feathered fowl.

In my house of prayer, my humbled heart guides my conscience. I cannot list the blessed gifts God sent my wife and me in our short few years of marriage. But many people are not so fortunate…

Some families lost their finances, especially over the past few weeks. Others gambled their money, and even life savings, instead of reading the laws of God. In a Christian’s house of prayer, the Bible dictates this distinction:

Many abodes are filled with “prized possessions” from floor to ceiling. We can witness this sad condition on TV, such as “Hoarding: Buried Alive” and even “American Pickers.” Or, shoppers fill their carts with unnecessary items after each paycheck to fill a void in their heart. I must ask, “How can you love two Gods if you are a true Christian?” This ill-fated, psychological condition promotes money and the love of physical items. In this house of prayer, the Bible states:

We can easily find the standard salary of clergymen on the internet. It is far below the national average income. But some televangelists, who I call “false prophets,” steal from the poor to live in their dynasty. They build multi-million dollar lifestyles, believing they can buy into heaven’s gates. In their masonry house of prayer, the frigid winds blow through the cracks and crevices.

So, what kind of house of prayer is your residence? Is your home blessed, or does Satan appear to send signals of acceptable sin? If Jesus walked in your house today, would He feel the warmth of love and graciousness? Could He easily place His hands on your Bible?

Just like the little feeding birds, they eat only enough to fill their bodies. They, too, come to me for comfort. We should turn to God for life’s blessings. Share your bread, for it is His will you are supplied with His love, including the little birds that feed in your backyard.

I pray your life and home is a sanctuary, filled with God’s blessings and love. Be content with your basic needs being met and avoid materialism. It is only the flesh that yearns for the security of money. Our wealth belongs to God – and it’s a gift. Make Him first in your life. Only faith, prayer, and your walk in the light of God will bring you to His house of prayer.



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Serving God’s Purpose

I hated to see my leftover coffee go to waste, so I sipped on it and waited on the Lord to give me this message for today. You see, God awoke me in the middle of the night, many years ago, and asked me to serve Him. I still do not understand His reason, but I’m glad He did; I rejoice and am honored to witness His good works every single day. However, few Christians know how to serve God’s purpose in their life. Have you ever questioned this thought?

Serving the Lord isn’t about us receiving attention or glory; it is for Him to receive praise. So, I start my day with an early morning prayer. I give thanks for my many blessings, and I ask Him to reveal His intentions of how could I serve Him. Am I to be His voice calling His chosen people, or am I to be a pillar to support His kingdom?

Dana Bicks

In your case, ask God to show you how to change other people’s lives to be a witness to His love. Perhaps involve yourself in an outreach community or work at the church. Whatever calling you choose, it should not be something you do at certain times, but a passion every single moment of the day. If God is not changing sinners into Christians, then how can He be glorified by the seeds we should plant? Serving God’s purpose is changing the lives of others who will witness His love and grace through your deeds. Share the good news about Jesus’ forgiveness of sin. How do you do this on a nine-to-five schedule, in your dead-end position?

Is Your Job a Dead-End Position?

Are you unfulfilled in your current job? Maybe it’s boring, you’re overworked and underpaid, not to mention unnoticed for a job well done. A desire for a meaningful existence just doesn’t apply to you. The Bible teaches that finding our purpose in anything other than the Lord will always leave us empty. If we can’t make a difference, what is the purpose? I’m sure your next response will be, “But I have bills to pay and a roof to put over my head.” Many job openings abound which better serves the Lord, and they will, in turn, pay your debts. Pray for God to show you the way.

“But seek first the kingdom of God and his righteousness, and all these things will be added to you.” Matthew 6:33

 

A Personal Story of Inspiration

Allow me to share a personal story with you, which will explain how God works, helping us to serve His purpose. Before my wife and I reunited and married, she lived in Virginia, single, for over thirty years. Her occupational field of expertise was in the accounting genre, and her pay scale was in the top echelon of her field. She burned out crunching numbers and often prayed something newer and better would come her way. In 2005, she accepted an opportunity to do mission work for the International Board of Southern Baptist Convention in Africa. When she returned from her outreach work, she was eager to continue spreading the word of God. She applied and was accepted to work for the Peace Corps, but she turned it down for lack of security in her designated country.

Now confused and floundering, perhaps moving to a different area was her answer, so in 2007 she purchased a home in Tampa. Within weeks of moving to Florida, she walked into a publisher’s office and landed another high-paying job. What did she know about the publishing field, and how did this serve the Lord? Was this another mistake? To make a long story short, the company eventually folded, and she moved back to Virginia, where she took a job for a non-profit Catholic organization running the finances. Once again, another mistake.

When my wife and I reconnected with each other in 2016, she told me how she was praying God would find her a job serving Him. She spoke of going back into missionary work, but I wasn’t letting her get away from me this time. Within days of moving to Arkansas with me, she suggested we begin a blog and website which served the Lord, and the rest is history. She is now my Editor and marketing guru. How ironic God placed her in a publishing company in Florida only to gain the experience for our award-winning book! Today, we both serve God’s purpose; our messages go further than any missionary work she could ever perform around in the world. Amen!

Rejoice, for You are Chosen!

Our almighty God comforts us and gives us the conveniences of life if we remain dedicated in prayer. When we least expect it, He will drop that job in our lap serving His purpose. Just keep your eyes and ears open and pray for the discernment. Is it the one God is offering to better serve His name? The richness you will receive may not be monetary but one of spiritual peace knowing you are serving God’s purpose.

Rejoice, for you are chosen to serve the Lord! How do I know this? You are a Christian who just took the first step of reading this blog… His message to you!



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Failure

Failure is important in your life.

Without relishing the bitter taste of your failure, You’ll never get the sweet taste of your success.

Failure doesn’t break you down, But failure makes you stronger and solid.

Don’t scare of your failure. Make your failure as the stepping stone of your great success.

Discover the new ways of your grand success and glory on the path of your greatest failures.

Source: POSITIVE THOUGHTS OF SELF-MOTIVATION! Only you can motivate yourself… Only you can bring positive changes in your life…. Birister Sharma

To Buy this Book- POSITIVE THOUGHTS OF SELF-MOTIVATION!

Thank you for reading. Let us make a beautiful world together. God bless!

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COPYRIGHT © Shubham Verma

Happiness..Success… #ThoughtsOfSho

SUCCESS is getting what you want… HAPPINESS is wanting what you get… ❤
“The things that makes your heart beat faster and your eyes glow when you do it or talk about it, no matter if it’s hiking, yoga, gardening, painting, meditation, love, photography, going for walks, helping others – do that…. Do it as often as you can. Because that’s what life is about. Creating as many passionate, happy moments as possible. Don’t let anyone stop you from doing the things you love – not even yourself.”

Read Full Post Here ☟☟☟

https://wp.me/p9hC3T-12h

Kuch Khwaish adhuri si…by #VirtualSiyahi

Dil kehta hai thoda thehar ja

Ek do kadam ka chalna bhi jo ab fasla sa lagta hai

Roshan hokar bhi sab na jane kyu dhua dhua sa lagta hai…

Ranjisho aur shikvo ke kisse to naye purane bikhre zamane ho gaye

milne milane ke kisse bhi ab sadiyo purane ho gaye

ab to mulaqat hoti bhi hai to bas us lamhe mein…..

Read Full Poetry Here ☟☟☟

https://wp.me/p8eSGu-IH

The National Debt: America’s Ticking Time Bomb

National Debt

One of the main characters in Shakespeare’s Hamlet, Polonius, while giving some advice to his son says this in Act 1, Scene III,

Neither a borrower nor a lender be…

This famous saying was intended as a piece of personal wisdom. The vast majority of the world today ignores this advice.

Whether at the personal, business, or government level, borrowing and lending have become commonplace in modern life. In fact, it is almost impossible to participate in buying or selling without borrowing and/or lending.

When a person borrows from a business, or from the government, it is a formal and legal endeavor, which makes disputes between the parties a complex matter of the law. The same is true for a business borrowing from another business, or a government borrowing from a business or another government.

If these intricate transactions run afoul and the borrower cannot pay back the lender, eventually the activity known as bankruptcy comes into play. This ‘remedy’ is used by individuals, businesses, and governments.

America’s National Debt may be heading toward bankruptcy for the nation. It is a ticking time-bomb waiting to blow the economy sky-high.

 

American States Have Gone Bankrupt

National DebtThe law today does not allow states to officially claim bankruptcy. However, that doesn’t mean that states cannot go into default on loan payments.

In fact, a Zero Hedge article from 2010 names 32 states that were insolvent at the time. California (surprise, surprise!) was the most in debt, followed by Michigan and New York.

Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states. Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance.

These cases were never officially bankrupt because the states were allowed to borrow money from the federal government.

To be clear, this was not a case of ‘robbing Peter to pay Paul.’ It was more like the court jester begging the emperor for some of his invisible clothes.

The Federal government, i.e. the emperor, lends money that it has to borrow, to the states to pay back money that they didn’t have to meet their legal obligations. It amounts to going into additional debt to pay the debt you already have.

It is obvious this doesn’t solve the debt problem. It only perpetuates the myth that states cannot ever go bankrupt.

When such conditions exist, one of the many inevitable results is higher taxes. It is far less the case that significantly lower government spending is attempted or even considered, at least initially.

The case is even more destructive when we realize that sovereign nations can suffer the consequences of rampant debt.

Nations Can Go Bankrupt: The Recent Case of Greece

National DebtMost are familiar on one level or another the phenomenons of personal and business bankruptcy. However, most are not as aware that even governments of entire nations can go bankrupt.

One prominent example was the nation of Greece which was threatened with insolvency a decade ago. Greece survived the economic crisis because the European Union and the IMF bailed the nation out.

The EU and the International Monetary Fund provided 240 billion euros in emergency funds in return for austerity measures. The loans only gave Greece enough money to pay interest on its existing debt and keep banks capitalized. The EU had no choice but to stand behind its member by funding a bailout. Otherwise, it would face the consequences of Greece either leaving the Eurozone or defaulting.

Greece had to agree to a revamping of its revenue system so that the national budget could take severe steps toward being ‘in the black,’ to receive the funds. That meant mandatory tax increases and spending cuts.

It also meant forced wage cuts and stopped any early retirement. The agreement also meant that pension funds had to be cut which also meant government-funded pensions would not be able to honor their legal obligation to pay their retirees.

These measures were either ineffective or not given enough time, and several other smaller billion-dollar-plus ‘bailouts’ were sent to Greece via various channels of the EU. Unemployment shot up to 25% and to 50% for young people.

By 2015 the voters had enough of the austerity measures forced upon them by the EU bailouts. In a referendum vote, they rejected the measures triggering widespread fear of instability which resulted in a run on the banks.

Banks closed and restricted ATM withdrawals to 60 euros per day. It threatened the tourism industry at the height of the season, with 14 million tourists visiting the country. The European Central Bank agreed to recapitalize Greek banks with 10 billion euros to 25 billion euros, allowing them to reopen. Banks imposed a 420 euros weekly limit on withdrawals. That prevented depositors from draining their accounts and worsening the problem.

The Greek economy has limped along since 2015 and though there has been some small progress, the debt is still in the 300 billion euro range, about the same as it was 10 years ago. Additionally, unemployment is still at 22% and, as of 2018, Greece is seeking more bailouts contingent on even more strict economic control by the EU.

America’s Debt Problem Is Treacherously Unique

National DebtThere are two factors that make America’s debt problem treacherously unique. The first and most obvious factor is that our National Debt monstrously large.

Moreover, the amount is larger than advertised. A lot larger.

The official National Debt is now quoted as over 22 trillion dollars! How much money is that?

Think of it this way. If you had just 1 trillion dollars and you spent 1 million dollars every day, it would take you almost 3000 years to spend it.

Multiply it 22 times and that is how much the United States of America owes a lot of other nations and financial institutions aka, banks around the globe. Now for some really bad news, this means the people of the United States owe that money because the taxpayers ultimately supply the funds.

This means that each taxpayer in America owes approximately 250,000 dollars to places including China through its state-controlled institutions of finance. Here comes the worst news of all; 22 trillion is only a small part of the real National Debt.

That’s because the official dollar amount does not include America’s unfunded liabilities. Unfunded liabilities are those items the Federal government must pay for by American law.

By far the largest and most significant of these are Social Security, Medicare, and Medicaid. Together they currently total more 50 trillion dollars. When added to the Debt, the total becomes slightly more than 73 trillion dollars… for the moment.

 

National DebtThe final figure also includes items such as Federal pensions for workers and elected officials and interest paid on the Debt. The grand total of America’s real debt is about 130 trillion dollars!

This means each American taxpayer owes over 1 million dollars of the real debt as it exists today. So, what do you say, fellow taxpayer? Got an extra million to chip in for poor old Uncle Sam? Yeah, me neither.

This is a path which will lead to the eventual bankruptcy of America unless some radical steps are taken, steps that will be extremely difficult to accomplish. Which leads to the second treacherous factor that is unique for America.

In all other examples of national financial disaster, there exists one thing which America doesn’t have. There is no one to bail us out.

The fact is, a consortium big enough to rescue the U.S. from insolvency doesn’t exist. America is the largest economy in the world and no nation or bank or group of nations or banks could ever absorb over 100 trillion dollars of debt.

This leaves few choices on the table, and none of them are easy or very pleasant. Americans must understand that even the best choices to resolve this economic upheaval will involve significant sacrifices by ‘we the people’ ourselves.

Sacrifices Must Be Made

Any real solution to stave off national insolvency requires massive changes in how unfunded liabilities are handled. The political landscape at this time makes the task of solving that problem extremely difficult.

However, there is a glimmer of hope here precisely because America is the largest economy that exists. Most of the modern world at this time has a vested interest in keeping it that way.

If America’s economy collapsed, it would immediately plunge the world into crisis mode, perhaps even global economic depression. That real fear gives the nation a short window of opportunity to make strides toward fixing the precarious debt situation.

This doesn’t mean we will pay off the National Debt completely, though there are ways to do so, provided the problem of government overspending is corrected. An intriguing and workable idea to pay down the debt is a 10% special inheritance tax described here.

The 10 percent taxes government share should be used exclusively to pay down the National Debt. The presently estimated wealth in the USA is 100 trillion. Ten percent over time being paid to reduce the debt will exponentially reduce the debt, assuming Congress attempts to balance a budget.

National DebtThe fact is that at the bottom, a crisis of economics is really a crisis of confidence. As long as there is trust in the value of the currency, public assurance staves off panic moves such as a run on the banks.

The same thing is true about America’s creditors. Those institutions and nations we are indebted to do not require payment in full to remain confident about doing business with the U.S.A.

All that is needed (for now) is to show we are keeping up on the interest payments and making progress in reforming our spending habits as a nation. Then real strides can be taken to pay off the National Debt.

Government spending overall has to be reigned in if a balanced budget is to be achieved. An excellent piece at Townhall.com shows this could be accomplished in a simple manner by a small reduction in spending.

The solution to this problem is very straightforward. All that’s needed is a bit of spending restraint to put the budget on a glide path to balance. I’m a big fan of spending caps, so this next chart shows the 10-year fiscal outlook if annual spending increases are limited to 1% growth, 2% growth, or 2.5% growth.

The ‘autopilot’ spending in the chart represents the current and projected levels of government outlay. The big reason this ‘autopilot’ is headed to the stratosphere is out of control entitlement spending.

Getting it under control means addressing the problems of Social Security and Medicare insolvency. For example, raising the retirement age for collecting Social Security to 70 along with at least some privatization of SS and Medicare, would be a good start in the right direction.

However, no one in political leadership is even suggesting slight changes in entitlement programs at this point in time. Those leaders assume, quite correctly, that many of their constituents would go ballistic at the prospects.

Those most adversely affected would be people in their 40s and 50s who may have already been counting on retiring in their 60s. Many of them may not want to wait until 70 for Social Security or Medicare benefits.

That kind of potential ill-will from voters keeps too many politicians from facing the truth. The truth that this problem is an economic ticking time-bomb and its detonation would be unimaginably catastrophic for America and the world.

National DebtIt is going to require strong and responsible leadership in government to stay the course if spending restraint is going to happen. Some may realistically face a hostile constituency when supporting proposals that delay or ‘cut’ government benefits and end up potentially sacrificing their political lives.

A strong and responsible public also must emerge and become educated enough about the economic realities to support policies which may call for sacrifice from them.

Is it fair? Not really. The largest sacrifice is likely required from working families who have already borne the burden of past generations of fiscal foolishness.

However, it is also true that should the debt time-bomb explode, the same working families will suffer the most devastation and it will dwarf the pain of previous sacrifices. Unless some big changes are made the bomb will go off, it’s just a matter of time.

The countdown to detonation may have already begun, and it is certain the debt time-bomb is armed. Pray that America will be wise enough to make the essential sacrifices and bring us back from the economic precipice.

Better is a little with the fear of the LORD than great treasure and trouble with it. Proverbs 15:16 [ESV]

D.T. Osborn

Sources: The Holy Bible, English Standard Version, Crossway Bibles, 2001

Featured and Top Image courtesy of Dirk Knight’s Flickr page – Creative Commons License
Inset Image 1 courtesy of Kenn Wilson’s Flickr page – Creative Commons License
Inset Image 2 courtesy of Global Justice Now’s Flickr page – Creative Commons License
Inset Image 3 courtesy of CafeCredit’s Flickr page – Creative Commons License
Inset Image 4 courtesy of Purple Slog’s Flickr page – Creative Commons License
Inset Image 5 courtesy of Gwydion M. Williams’ Flickr page – Creative Commons License
Inset Image 6 courtesy of Boris Rasin’s Flickr page – Creative Commons License

All other sources linked or cited in the text

Originally published in TIL Journal

 

 

SoLIDariITY BlogGErS’ FoRUm 17

Financial independence is the dream of every normal human being.

If you want financial independence , take good care of your thinking. See what the experts say. Click here. This is correct.

The story of a Nigerian artist who found his way to financial independence will inspire anybody. Read Financial Independence: an immigrant’s story.

Tell us if Ken’s story inspires you.

And if you would like financial independence.

SIWO Global News 7th October 2018 #173

Knowledge is Wealth

(For sharing, discussing, liking, praying and comments)

Women in Senior Roles In British Industry- Dame Inga Beagle is Lloyds of London Chief Executive

Among  the institutions in the City of London, Lloyds of London is probably the oldest in London.  The firm was established in 1688 to insure the country’s vast and lucrative shipping industry.   In 2014 the first ever female Chief Executive was appointed. Due to Brexit, there is going to be a new office in Belgium, so that in Post-Brexit era Lloyds can continue to give their customers in Europe the service they are used to.  Europe contributes to Lloyds 15% of the company’s business and so to transfer the contracts to the Belgium office makes sense and will ensure the continuity of their business relationship.

It has taken many years for women to make inroads into Lloyds, in 1969 it had the first female investor and in 1973 the first female was allowed to on the trading floor.  Dame Inga joined the company in the 1980s as an underwriter. She left after seven years because she wasn’t sure it was the job for her.  Travelling round the world gave her a break and also reinvigorated her to get back into insurance.

On Climate Change and its effects on the Insurance industry, Dame Inga says billions of pounds has been paid because of the many natural disasters.  The problem with countries that are experiencing these disasters is that, many people don’t have  insurance and therefore individuals have to sort out putting their lives back together on their own, which is difficult and governments use taxes to generate the funds to cope with the repairs and reconstruction of damaged homes and infrastructure.

World Movement Of Christian Workers- World Day Of Action For Decent Work/Basic Income

(World Movement of Christian Workers (WMCW) continues working for the globalisation of justice and solidarity, and against the “globalisation of indifference”. )  WMCW states workers cannot have a decent life because their wages are not enough to live on, there is no stability of employment, the working conditions are terrible and the work they do causes illnesses and the workers rights to have a union is denied.  Child labour is a huge problem.

In the south, the workers do informal work and with the uncertainty of work and pay therefore without decent work escaping poverty is impossible.  There is food and education insecurity.  Access to healthcare  for prevention and treatment of diseases and insurance to guarantee protection in illness and old age all necessary for a decent life.  The systems in the capitalist world of the countries in the north impose on the poorer countries in the south.  Decent work is an issue on the agenda of the International Labour Organisation founded 100 years ago, UN includes ‘decent work’ as an objective in its ‘2030 Agenda for Sustainable Development’.  WMCW joins the International Trade Union Confederation (ITUC) to celebrate 7th October as “World Day for Decent Work”.

Inspirational Story/Quote

Matthew 20:25

“But Jesus summoned them and said, “You know that the rulers of the Gentiles lord it over them, and the great ones make their authority over them felt.”

Pope Francis says, “No to an economy of exclusion and inequality,” because: “Such an economy kills”. (Evangelli gaudim, 53)

#SIWO GNEWS #173

Content- BBC News     mmtc.inform.com

SIWO Reporter: Susanna Dziworshie

Be Careful  Be Joyful   Be Peaceful