News of a fire sale at Bear Stearns (BSC, news, msgs) had global markets in pandemonium today, even after the U.S. Federal Reserve Bank stepped in Sunday night to try to restore confidence in the financial-services sector.
After a rocky week for Bear Stearns, JPMorgan Chase (JPM, news, msgs) announced on Sunday that it would acquire the Wall Street giant for a mere $2 per share in a stock-swap deal.....--- opening atatement in news release on finance matters during morning of March 17, 2008
eddy - a current of air, water, etc. moving against the main current and with a circular motion; little whirlpool or whirlwind. --- Webster's New Universal Unabridged Dictionary
Ok, ok -- so it's a bit of a game with words and expressions -- "feddy" is my coined expression for the U. S. Federal Reserve and "eddy" of course is defined as noted above. Eddy represents the financial "current" which these days often goes against the flow of the goals of government, corporations and powerful individuals when it comes to a commodity called money.
The stock market continues to lose ground with what are considered "bad news" reports related to finance. The Federal Reserve then cuts interest rates a half point or so. Then there is a surge and the Dow "rebounds" -- this may be as much as 100 to 200 points or more! But as time passes there is another slide.
There is no lacking in the field of professed financial "experts" -- the guys that tell you how best to invest your money and what the hot stocks are, etc. Cable channels have programs devoted to this subject and there is an endless parade of discussions on the economy and the world of finance. The one thing they do not or are unwilling to face -- this so-called wealth (fat portfolios with "profitable" investments) thing is mainly on paper plus the fact that our nation is trillions of dollars in debt with some foreign countries owning a lot of that debt, including a major player called China!
Now the question is this -- how long will the Federal Reserve (Feddy) have to cut the rates to keep things on an even (and prosperous) keel so far as the United States' economy is concerned? Will they reach a point where there can be no more "cutting" because they have reached the big "0?" Will they reach a point where lenders will have to pay people or companies to borrow money? Yea, I know that is an absurd and very stupid question, but since I was on a roll with this -- I just had to toss it in!
On a more serious note -- when enough people and those who are in control of corporations have made money their god, the time does come when the Creator, Who owns all things including that which is finance related, of this universe begins to bring on some unpleasant happenings. It starts with something called chastisement and often will be directed to those things which have become an idol -- you know, something (or combination of things) which have priority in our lives and God and His revelation to us are placed in the corner somewhere to gather dust!
Note a few statements about this matter from God's point of view -- please understand that most people who hold all positions in life are not the least bit interested in God's point of view on anything! This alone mainly explains why our republic is in the chaotic condition that it is at the present time!
He who trusts in his riches will fall, but the righteous will flourish like foliage... He who oppresses the poor to increase his riches, and he who gives to the rich, will surely come to poverty... A man with an evil eye hastens after riches, and does not consider that poverty will come upon him... There is an evil which I have seen under the sun, and it is common among men: a man to whom God has given riches and wealth and honor, so that he lacks nothing for himself of all he desires; yet God does not give him power to eat of it, but a foreigner consumes it. This is vanity, and it is an evil affliction... Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments are moth-eaten. Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days... "The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, and saying, 'Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! For in one hour such great riches came to nothing.' And every shipmaster, all who travel by ship, sailors, and as many as trade on the sea, stood at a distance and cried out when they saw the smoke of her burning, saying, 'What is like this great city?' And they threw dust on their heads and cried out, weeping and wailing, and saying, 'Alas, alas, that great city, in which all who had ships on the sea became rich by her wealth! For in one hour she is made desolate.' Rejoice over her, O heaven, and you holy apostles and prophets, for God has avenged you on her!" --- Proverbs 11:28; 22:16; 28:22; Ecclesiastes 6:1, 2; James 5:1-3; Revelation 18:15-20
A conclusion to all this? Simply, that when money has become a prominent "god" in a culture, then Almighty God Who put this universe together by spoken command will so arrange things that even Feddy cannot overcome the Eddy!
The solution, of course, is a deliberate choice of action called repentance from sin -- but that is something which about all cultures at any given time refuse to do -- there are ruins from out of the past that bluntly remind us of this unchanging fact!
Look! Is that your money going down that bathroom piece of furniture? Quick, call "Feddy" -- maybe it can put the brakes on it!