1 / 12

Global Financial Crisis

Global Financial Crisis. Outline. What lead us to the crisis? Background (How it started) Parties/Players End result What can we learn from this? . How it started. Late 1990’s – internet bubble bursts US economy in trouble

lonna
Download Presentation

Global Financial Crisis

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Global Financial Crisis

  2. Outline • What lead us to the crisis? • Background (How it started) • Parties/Players • End result • What can we learn from this?

  3. How it started • Late 1990’s – internet bubble bursts • US economy in trouble • Federal Reserve (equivalent of our Central Bank) reduced rates to stimulate the economy • Reduced rates = low mortgage rates

  4. Global Financial Crisis “AAA” Mortgage Lenders/Banks “AAA” Sub-prime Rating Agency S&P, Moody, Fitch

  5. What to do we learn from this? • “If you can’t afford it now … borrow against future earnings”. • The Bible says Proverbs 13:7 (NIV) 7 One man pretends to be rich, yet has nothing;        another pretends to be poor, yet has great wealth.

  6. How much do you spend? The Millionaire Next door by Stanley and Danko

  7. What to do we learn from this? • “Acquire as much wealth … as fast as you can … whatever it takes ” • The Bible says Proverbs 22:16 (NIV) 16 He who oppresses the poor to increase his wealth        and he who gives gifts to the rich—both come to poverty.

  8. Who wants to get rich quick? • “The reality is that 70 percent of all lottery winners will squander away their winnings in a few years,” the Connecticut financial advisers said in a news release. “In the process, they will see family and friendships destroyed and the financial security they hoped for disappear.” By DEENA WINTER / Lincoln Journal Star (Saturday, Feb 25, 2006 - 07:11:08 pm CST)

  9. Where are you investing on? • Luxury • Vices • Retirement • College fund • Charity

  10. How much is 1 pack/day? Computed at P 30/pact and 4% interest rates

  11. What to do we learn from this? • “Material things provide you a complete sense of satisfaction” • The Bible says 1 Timothy 6:17 (NIV) 17Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.

  12. Closing • 2 Timothy 3:16 (NIV) 16All Scripture is God-breathed and is useful for teaching, rebuking, correcting and training in righteousness, 17so that the man of God may be thoroughly equipped for every good work.

More Related