Todays Biggest Economic Threat: Fear

In a recent interview I was asked an interesting question.

"What do you think is the biggest challenge facing our economy right now?"

My answer felt well thought out and solid, but somehow surface and hallow. And it's got me thinking about the real answer, behind the answer.

Attribution: [220365] Nuclear Fear (Explored) by Pascal

My original answer was basically this:

"... the unemployment rate is still too high, the true unemployment rate is much higher than currently being reported because so many have just dropped out of the job market search. We have more people of working age not working than in any time in recent history. 

This leads to less income which leads to weak sales. Weak sales leads to less hiring. Less hiring reinforces the people-out-of-work numbers. 

It's a retail cycle with serious long term side effects. 

The solution is complicated and potentially political but that's the biggest issue,  off the top of my head."

Screen Shot From BLS.GOV

In 2008 there were 73,225 people over the age of 18 NOT in the labor force in the USA. In 2014 there are now 84,883. bls.gov One recent stat as of March 2014 says the number is now closer to 90,483. We're still not as low as we were in the 1940's, but we are at the lowest since 1978. (bls.gov Percentage)

Labor Participation Rate BLS.GOV

But my answer is still bugging me...

That is the symptom not the cause, the fruit not the root.

Fear.

Fear is the real problem.

It sets itself up in many ways. Consumer Confidence. Investor Confidence.

But also...

The fear of striking out and starting your own business because it could fail.

It is fear that causes you to give up, instead of taking action.

Fear that says: "I'll never get there so why try.."

Fear is keeping America and the World economy in a vice grip.

This Fear can only be replaced with confidence,  but in what or whom?

Only He with the power to prosper you despite the economy can give you power over this Fear.

Here are some things to meditate on:

Deuteronomy 8:18;

And you shall remember the Lord your God, for it is He who gives you power to get wealth, that He may establish His covenant which He swore to your fathers, as it is this day.

See Also: Deuteronomy 28; Job 33; Malachi 3:10; 3 John 1:2

So here is the real question:

Whose in your wallet?

Todays Resource will teach you how to think outside of the circumstances and think God's thoughts about your life; past, present, and future.

• The Blessing of the Lord: Makes Rich and He Adds No Sorrow With It, By Kenneth Copeland (Affiliate Link)

By Darrell Wolfe

Connect

Affiliate Disclosure:

I earn commissions off of some of my suggestions. Full Disclaimers (Click Here)
See my Store for more suggestions (Click Here)

To Respond Leave A Comment on This Post