Confidence In The Economy Still Sinking

Timothy Homan of Businessweek has addressed the ailing economy by stating, “Confidence among U.S. consumers sank in June more than forecast as Americans became distressed over the outlook for jobs and incomes."

Many factors are involved, like the continuing plunging of stocks and China’s economic outlook not improving as previously estimated. Unemployment and the turmoil in financial markets precipitated by the European debt crisis raised the risk that household spending will falter even more. On top of all the factors already eroding consumer confidence is the devastating impact of the Gulf oil spill – something that will worsen the situation in ways no one can predict.

It seems that plans to buy automobiles, appliances and homes declined in June. The percentage of people who said they intend to buy an automobile dropped to the lowest since records began in back in 1967. It seems that Americans under the age of 35, and those making from $15,000 to $24,999 a year, were affected most and had the biggest decreases in confidence this month.

What affects confidence is an interesting study. In all ways but one it has to do with beliefs about the external circumstances happening around a person or a group of people of any size. The lone exception mentioned above is the absolute and unbending confidence available to those who are grounded by a personal relationship with Jesus Christ. His ironclad guarantee to His redeemed people is stated boldly in John 10:27-29. “My sheep hear My voice, and I know them, and they follow Me. And I give them eternal life, and they shall never perish; neither shall anyone snatch them out of My hand.”

Not only are believers secure in their eternal relationship with their Lord, but so is their reward, according to Paul in Colossians chapter three. In verses 23-24 he declares, “And whatever you do, do it heartily, as to the Lord and not to men, knowing that from the Lord you will receive the reward of the inheritance; for you serve the Lord Christ.”

The Bible forecasts that outrageous times would arise in the last days just before the Lord’s return. (2 Timothy 3:1) And perhaps the global financial meltdown figures prophetically into the current scenario and is helping to motivate the fears associated with it.

But for Christians, there remains a sense of hope, trust and blessing, provided they take to heart the advice given by the writer of Hebrews. “Therefore do not cast away your confidence, which has great reward. For you have need of endurance, so that after you have done the will of God, you may receive the promise.” (Hebrews 10:35-36)

Bill Breckenridge