In one word, one can describe the situation of our world nowadays.
Uncertain
Because if are to believe what the international media is broadcasting everyday for the past weeks or so regarding the domino-like bankruptcy declarations or government buy-outs of some of the biggest investment firms and banks like Fannie May, Freddie Mac, Bear Stearns, AIG, Washington Mutual and Lehmann Brothers, the financial sectors are indeed on the verge of a downward spiral. Stock markets are plunging on record-highs without any relief in sight even with the massive interventions by each country’s government to assure investors of steadying the situation.
In one word, one can describe what is sorely lacking nowadays in the financial sector.
Confidence
If the slide continues, analysts are forecasting then this period might as well be the worst world recession and depression that we will experience in modern times. And just a mention of the word “recession” has been sending fear into the backbones of the business sector that will of course have bad repercussions to the millions and millions of people they employ. When this happens, the common person who has not a slight idea of what is on-going will in the end carry the brunt and suffer all the consequences of the mistakes of a collective few.
In one word, one can describe the root cause of all this mayhem.
Greed
What started out to be the fulfillment of a simple American dream of owning his very own house has escalated (and mutated) into a complex labyrinth of buying, selling, pooling assets, securitization and all those mumbo-jumbo financial jargons we now hear everyday where the end result is a lot of mortgage defaults leading to huge losses for the banks and the so-called investment firms. Now these billion losses are propping out within and outside the
In one word, one can describe what a normal person like you and me can do at this time.
Hope
I have a trickle investment in mutual funds of a subsidiary firm of one of the ailing big companies which, whether I pull-out or not would not really make of a difference but I will decide to keep it untouched just the same as my simple contribution to stabilize the crisis and all the time hoping that it will not be for naught. I do hope that those who have excess wealth do the same or better yet, do more by doubling their investments to keep the fearful market afloat. I do hope that businesses keep their daily productivity though all these turmoil so that not many people will be unemployed. We do hope that the end of the crisis is near.
In one word, one can describe what concrete action everyone must make at this time.
Pray
In one word, one can describe what our attitude should be towards God despite this trying time.
Trust
May God lead us through these troubling times.
