Credit Crunch

It has just been revealed that inflation in the UK is at an eleven year high. Rising food and fuel costs pushed inflation up to 3.8% in June from 3.3% in May.

Most of us are well aware of the credit crunch and its effect on our day to day expenses. Food prices are steadily growing, causing many to buy only the necessities and look for cheaper brand names.

Rising fuel prices are making us question whether the journeys we take are of necessity. Someone recently joked "My wife and I recently celebrated our 34th wedding anniversary. I asked her what she wanted and she said she would like to go somewhere expensive, so I took her to a gas station!"

There will inevitably be job loses, with the construction industry already feeling the pain. Some of the leading house building firms in the UK have announced a 40% cut in their workforce. House sales have become stagnant with banks making it more and more difficult to obtain mortgages.

It’s a very gloomy picture and no matter how people with vested interests may try and spin it, the man on the street is beginning to feel the pinch. If you had asked someone who “Fannie Mae” and “Freddie Mac” were a few weeks ago, they probably would have guessed that they were a couple of cartoon characters!

We now know that they are the two biggest players in the USA mortgage market and that the US government have had to step in and save them from collapse. Together, the two firms own or guarantee about $5.3 trillion (£2.7 trillion) worth of home loans, that’s about half the outstanding mortgages in the US.

It is all very depressing and quite troubling. In difficult times like this it is good to know that there is one who never changes and that His love and help will never be effected by the credit crunch.

Hebrews 13:8 - Jesus Christ the same yesterday, and to day, and for ever.

The biggest disaster for any family would be to lose their home. I hope and pray that this will be a very rare occurrence.

There is one inheritance that the credit crunch and the banks cannot touch. It’s a home for all who trust the Saviour and it’s not susceptible to market forces. Have you got a home secured in heaven yet?

1 Peter 1:4 - To an inheritance incorruptible, and undefiled, and that fadeth not away, reserved in heaven for you