Church of God News

(Unsplash photo)

COGwriter

There are recession concerns around the world:

July 15, 2022

Chinese economic data compounded fears about a global recession.  …

“It is all about recession risk”, George Saravelos, strategist at Deutsche Bank, said in a note to clients, as “the market keeps bringing forward the timing of a recession and (rightly) raises the probability of a hard landing. …

China’s economy expanded by just 0.4 per cent in the three months to June, compared with the same period last year, widely missing economists’ expectations for a 1.2 per cent rise amid stringent lockdowns driven by Beijing’s battle to eradicate coronavirus. In the US, soaring inflation, downbeat business surveys and market expectations of the Fed raising interest rates to almost 3.6 per cent by next February have darkened the economic outlook. …

Meanwhile, European governments are facing up to a worsening cost of living crisis as Russia cuts gas supplies. https://www.ft.com/content/b2568c9e-bdfd-4830-a6d7-a38591ecf56c

Food prices reportedly have gone up 125 in both the USA and Germany over the last year.

Fuel costs have gone up even more.

Bloomberg put out the following:

Is the US in a Recession Yet? What You Need To Know and How To Prepare

July 14, 2022

The dreaded R word has been thrown around a lot recently. … recession …

Here’s what you need to know about recessions and how to prepare:

What’s a Recession?

The official definition varies. Some define a recession as two consecutive quarters in which output declines. The National Bureau of Economic Research is technically in charge of declaring recessions, which it defines as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.”

The committee meets in secret and is comprised of economists and academics, or “eggheads” according to one past member. It usually takes them about a year to decide on a recession call.

The length of a recession can vary widely. For instance, the pandemic-fueled recession in 2020 lasted only two months, while the Great Recession went on for about 18 months.

Are We In One?

It depends who you ask. …

For those concerned about layoffs, try to build up emergency savings of least three to six months of living expenses, experts say. If you do experience a job loss, remember you have options — there are still lots of openings.  …

What Else Can I Do?

The most common advice from financial experts: Don’t panic. …

Noah Damsky, a financial planner at Marina Wealth Advisors, recommends some overall “belt tightening.” Cutting down on discretionary expenses and boosting savings is always a good idea, but especially so when a recession might be coming. https://www.bloomberg.com/news/articles/2022-07-14/is-the-us-in-a-recession-how-to-prepare-for-economic-downturn

Related to recession, Michael Snyder posted the following:

5 Things That You Should Start Doing Immediately To Prepare For The Severe Recession That Is Ahead

Do you remember what economic conditions were like in 2008 and 2009? Well, what is ahead of us is likely to be significantly worse. …

Well, the following are 5 things that you can do right now to get prepared for the severe recession that is ahead…

#1 Make Sure That You Have A Source Of Income

Last year, if you didn’t have a source of income it wasn’t that big of a deal.  … But now things are changing very quickly.  The number of job openings is plunging, and layoff announcements have started to spike. …

#2 Build Up Your Emergency Fund

When a recession hits, it is extremely important that you are able to continue to pay the bills no matter what happens. …

Now is the time to build up a very large emergency fund. Cutting your spending will help you to do that. …

#3 Get Out Of Debt

After you have built up your emergency fund, getting out of debt should be a high priority. …

#4 Stock Up On Essentials Now

Prices are going to keep going higher.

So that means that the things that you are going to need during the months ahead will not be any cheaper than they are right now.

Don’t spend money on unnecessary items, but for the essentials that you use on a regular basis it is a good idea to stock up right now while you still can.

#5 Maintain A Positive Attitude

This is so important.

Have you ever known anyone that was truly successful in life that had a negative attitude about everything? 07/13/22 http://endoftheamericandream.com/5-things-that-you-should-start-doing-immediately-to-prepare-for-the-severe-recession-that-is-ahead/

Yes, we should take physical steps and have the right attitude. Despite how the world views debt, it is good not to be in debt.

Notice the following about Germany:

Deutsche Bank Now Modeling German Households Chopping Wood To Keep Warm This Winter

July 15, 2022

Deutsche Bank senior economist Eric Heymann (available to pro subscribers), the largest German lender laid out … the overall weaker economic development – because as a reminder, Europe will very soon be in a deep recession – will dampen gas demand in the manufacturing industry.

But the punchline is when DB contemplates possible “substitution for gas” by other energy sources – the bank lists hard coal and lignite in the power sector, as for private households, it predicts that “wood will be used for heating purposes where possible,” while industries will switch to oil derivatives, all of which contributes to lower gas demand.

You read that right: the largest European bank now predicts that a growing number of German households will be using firewood for heating! Maybe allowing a petulant Scandinavian teenager to set the country’s energy policy was not the brightest idea after all. https://www.zerohedge.com/markets/deutsche-bank-now-modeling-german-households-chopping-wood-keep-warm-winter

While in the West, we tend to take heat, electricity, and food for granted, things are shakier than they often appear.

In the world, we see a lot of economic uncertainty.

There are recessions, sometimes stagflation, disasters, weather issues, wars, and even severe depressions that affect income and physical needs.

One can lose a job at almost anytime. There could also be health problems or even the death of the main income provider.

But there are things you can and should do.

Notice the following:

1 A certain woman of the wives of the sons of the prophets cried out to Elisha, saying, “Your servant my husband is dead, and you know that your servant feared the Lord. And the creditor is coming to take my two sons to be his slaves.”

2 So Elisha said to her, “What shall I do for you? Tell me, what do you have in the house?” And she said, “Your maidservant has nothing in the house but a jar of oil.”

3 Then he said, “Go, borrow vessels from everywhere, from all your neighbors — empty vessels; do not gather just a few. 4 And when you have come in, you shall shut the door behind you and your sons; then pour it into all those vessels, and set aside the full ones.”

5 So she went from him and shut the door behind her and her sons, who brought the vessels to her; and she poured it out. 6 Now it came to pass, when the vessels were full, that she said to her son, “Bring me another vessel.”

And he said to her, “There is not another vessel.” So the oil ceased. 7 Then she came and told the man of God. And he said, “Go, sell the oil and pay your debt; and you and your sons live on the rest.” (2 Kings 4:1-7)

Now, while the above involved a miracle, the concept of paying off debt and having savings is something God’s people should strive to do.

Notice also:

7 The rich rules over the poor,
And the borrower is servant to the lender. (Proverbs 22:7)

Instead of being in debt, God’s people should strive to save:

But they should also be givers and rely on God’s blessings:

8 “Will a man rob God? Yet you have robbed Me! But you say, ‘In what way have we robbed You?’ In tithes and offerings. 9 You are cursed with a curse, For you have robbed Me, Even this whole nation. 10 Bring all the tithes into the storehouse, That there may be food in My house, And try Me now in this,” Says the Lord of hosts, “If I will not open for you the windows of heaven And pour out for you such blessing That there will not be room enough to receive it. 11 “And I will rebuke the devourer for your sakes, … (Malachi 3:8-11)

4 Let each of you look out not only for his own interests, but also for the interests of others. (Philippians 2:4)

6 But this I say: He who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. 7 So let each one give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver. 8 And God is able to make all grace abound toward you, that you, always having all sufficiency in all things, may have an abundance for every good work. 9 As it is written:

“He has dispersed abroad,
He has given to the poor;
His righteousness endures forever. (2 Corinthians 9:6-9)

Yes, we need to also consider helping others.

And all should heed the words of Jesus:

25 “Therefore I say to you, do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? 26 Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? 27 Which of you by worrying can add one cubit to his stature?

28 “So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; 29 and yet I say to you that even Solomon in all his glory was not arrayed like one of these. 30 Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith?

31 “Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. 33 But seek first the kingdom of God and His righteousness, and all these things shall be added to you. (Matthew 6:25-33)

4 “It is written, ‘Man shall not live by bread alone, but by every word that proceeds from the mouth of God.'” (Matthew 4:4)

Yes, we need to seek first the Kingdom of God. And the word of God says we should ttry not to be in debt, we should try to have savings, and we are to be givers.

All of these should be part of our preparations.

As far as other physical steps, you can see our article: Physical Preparation Scriptures for Christians.

Tweet

This entry was posted on Friday, July 15th, 2022 at 7:00 am and is filed under Prophecy.

• PCG: The Recession is Over?
• Great Recession of 2011-2012?
• Economists state UK is in a Double-Dip recession and some results of a Canadian Poll
• PCG Reports “Stock Markets Plunge Around the World”
• Social Unrest and March in Europe
• Germany Leads EU Growth
• ‘Slight Uptick in Unemployment Could Spell Recession’ & ‘The Percentage Of Americans That Worry They Won’t Be Able To Pay Their Bills Is Higher Than It Was During The Great Recession’
• Hong Kong and UK Financial Matters
• Fortune: A recession is coming for most developed nations in 2023, and this is where economists predict the worst
• ICG’s Mark Armstrong’s Economic Comments