My Writings. My Thoughts.

Friday May 5, 2023

// May 5th, 2023 // Comments Off on Friday May 5, 2023 // Daily News

Happy Cinco de Mayo


Americans haven’t been this worried about their bank deposits since the 2008 financial crisis

Recent events may be chipping away at confidence in the U.S. financial system, according to the findings of a Gallup survey.

Nearly half of the 1,013 adults polled said they were “very worried” (19%) or “moderately worried” (29%) about the safety of the money they had tucked away in a bank or other financial institution, Gallup said. About 20% said they weren’t worried at all. Almost a third said they’re “not too worried.”

The level of concern expressed in the poll is similar to the findings that Gallup found shortly after the collapse of Lehman Brothers in September, 2008. However, this is not a survey that Gallup conducts regularly, so it is difficult to say how attitudes have changed over time. Still, a December 2008 reading had shown sentiment had already improved from those worst levels as steps were taken to ease the impact of the financial crisis.

When the poll was conducted from April 3-25 this year, Signature Bank and Silicon Valley Bank had already failed. Since then, regulators have taken possession of First Republic and sold its assets to JPMorgan Chase. On Thursday, a number of regional bank stocks sank, with Los Angele-based PacWest cratering more than 46%. That stock is now down 86% this year.

The Federal Deposit Insurance Corp. — created in 1933, during the depths of the Great Depression — backs deposits up to $250,000 per depositor. For those with accounts above the insured limit, there are several steps that can be made to protect more than 250,000.

According to Gallup, those who identify as Republican or independent as well as those with middle- and lower-incomes were more likely to be concerned about their money. The same was true for Americans without a college degree, it said.

Today’s Inspiration

Fear Not!

Adapted from the resource Battlefield of the Mind – by Joyce Meyer

Wouldn’t everything in life be better if we didn’t have to deal with fear? Of course, there are healthy fears that alert us to danger—and these are good because they protect us. There is also the fear of God, which means to have a holy, reverential awe and respect for Him. But there is a debilitating fear that Satan tries to put on us every day that is intended to keep us from having the power, love, and sound mind that God wants us to have.

If you have ever struggled as I once did with anxiety, you are familiar with the worry, stress, and feeling of heaviness that comes with it. Many people struggle with fear that has no obvious cause or source. They wonder why they are always afraid and can’t change, no matter how hard they try. Others spend every minute worrying about what might happen. “What if…” is their favorite phrase. “What if I can’t pay the bills?” “What if my child gets hurt?” “What if my husband loses his job?” The endless list of possible tragedies keeps these unfortunate people bound up and miserable every day of their lives.

There are many serious things going on in the world, and we need to be aware of them and prepare for them. But we also need to learn to resist fear when it rises up against us. The Word tells us, God did not give us a spirit of timidity (of cowardice, of craven and cringing and fawning fear), but [He has given us a spirit] of power and of love and of calm and well-balanced mind and discipline and self-control (2 Timothy 1:7 AMPC).

Sometimes we think of fear as an emotion, but we need to realize that fear is actually a spirit. In fact, I believe fear is one of Satan’s favorite tools, and he particularly loves to torment Christians with it. At every possible opportunity, he will whisper in your ear, telling you that God has forgotten you and there is no hope. It makes sense that Satan would try to intimidate us with fear.

But Jesus said, All things can be (are possible) to him who believes! (Mark 9:23 AMPC). We have to believe that there is nothing worse for the enemy than an on-fire, Bible-believing Christian who is fearless! God didn’t promise us that life would be easy. We all will face problems and challenges. But the outcome depends on whether we trust God—or give in to fear.

Psalm 23:4 (AMPC) says, Yes, though I walk through the [deep, sunless] valley of the shadow of death, I will fear or dread no evil, for You are with me; Your rod [to protect] and Your staff [to guide], they comfort me. The psalmist David said he walked through the valley.

When we fear or become afraid, we can be sure that’s not God at work, but one of the sly tricks of our spiritual enemy. If he can make us think that God hates us or wants to punish us, we’ll allow those thoughts to fill our minds, and we’ll start losing the battle.

God is love. We can never say those words enough. The only thing we can add is: and God loves me. Fear is a spirit that must be confronted head on—it will not leave on its own. We must proclaim the Word of God and command fear to leave. So the next time fear knocks on your door, send faith to answer!

Prayer of the Day: Lord Jesus, when I read Your Word, I find assurances of Your love for me. There are times, however, when I feel unworthy of Your love, but You never loved me because I’m worthy; You loved me because You are love. In Your name I pray, Lord Jesus, thanking You for Your reassurance that I am truly loved by You, and that therefore I have no reason to fear, AMEN

Monday March 20, 2023

// March 20th, 2023 // Comments Off on Monday March 20, 2023 // Daily News


First Republic shares slide 18% Monday after a credit rating downgrade

Shares of First Republic Bank, which have become the barometer of the regional bank crisis, slid once again Monday after Standard & Poor’s cut the credit rating of the San Francisco-based institution.

S&P reduced its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week. The rating remains on CreditWatch Negative, said S&P.