Ph. D Margaret Olugbemisola Areo Ph. D Adebowale Biodun Areo
REV/DR. 'BIODUN ADEDIPE1 SEPTEMBER 2009 GLOBAL MELTDOWN: CHALLENGES AND OPPORTUNITIES FOR CHRISTIAN...
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Transcript of REV/DR. 'BIODUN ADEDIPE1 SEPTEMBER 2009 GLOBAL MELTDOWN: CHALLENGES AND OPPORTUNITIES FOR CHRISTIAN...
REV/DR. 'BIODUN ADEDIPE 1SEPTEMBER 2009
GLOBAL MELTDOWN:CHALLENGES AND OPPORTUNITIES
FOR CHRISTIAN BUSINESSES AND PROFESSIONALS
REV/DR. 'BIODUN ADEDIPE 2SEPTEMBER 2009
OUTLINE
WHAT IS CRISIS? A PERSPECTIVE ON WEALTH ABOUT THIS CRISIS CAUSES IMPLICATIONS WHAT NEXT? THINGS TO DO END NOTES
REV/DR. 'BIODUN ADEDIPE 3SEPTEMBER 2009
WHAT IS CRISIS?
“PEOPLE ARE IN A STATE OF CRISIS WHEN THEY FACE AN OBSTACLE TO IMPORTANT LIFE GOALS — AN OBSTACLE THAT IS, FOR A TIME, INSURMOUNTABLE BY THE USE OF CUSTOMARY METHODS OF PROBLEM SOLVING.”CAPLAN, 1961
REV/DR. 'BIODUN ADEDIPE 4SEPTEMBER 2009
WHAT IS CRISIS? (CONTD.)
“…AN UPSET IN EQUILIBRIUM AT THE FAILURE OF ONE’S TRADITIONAL PROBLEM-SOLVING APPROACH WHICH RESULTS IN DISORGANIZATION, HOPELESSNESS, SADNESS, CONFUSION, AND PANIC.”LILLIBRIDGE AND KLUKKEN, 1978
REV/DR. 'BIODUN ADEDIPE 5SEPTEMBER 2009
WHAT IS CRISIS? (CONTD.)
“…CRISIS IS A PERCEPTION OR EXPERIENCE OF AN EVENT OR SITUATION AS AN INTOLERABLE DIFFICULTY THAT EXCEEDS THE PERSON’S CURRENT RESOURCES AND COPING MECHANISMS.”JAMES AND GILLILAND, 2001
REV/DR. 'BIODUN ADEDIPE 6SEPTEMBER 2009
WHAT IS CRISIS? (CONTD.)
THE LAST OF THESE DEFINITIONS MAKES CLEAR THAT CRISIS IS A PERCEPTION, WHICH THEN MAKES IT LARGELY A MATTER OF HOW THE INDIVIDUAL RESPONDS TO THE TRIGGER OR DEVELOPMENT.
ECONOMIC MELTDOWN IS A WORLD PERCEPTION OF LARGE SCALE LOSSES AT A TIME THAT ONLY A FEW PEOPLE ARE MAKING GAINS!
REV/DR. 'BIODUN ADEDIPE 7SEPTEMBER 2009
BUSINESS PURPOSE THE ULTIMATE END OF BUSINESS IS TO
CREATE WEALTH, BY SERVING VERY WELL CLEARLY IDENTIFIED CUSTOMERS, REPEATEDLY AT A PROFIT.
MELTDOWN OR NOT, A DIVINELY-INSPIRED BUSINESS VENTURE WILL ALWAYS BE IN ‘BUSINESS’.CUSTOMERS WILL COME SUPERNATURALLY!
REV/DR. 'BIODUN ADEDIPE 8SEPTEMBER 2009
WEALTH
AN INDIVIDUAL IS WEALTHY WHEN S/HE HAS ACCESS TO ALL THAT S/HE NEEDS AND MORE.
THIS IS CHARACTERIZED BY ABUNDANCE.
IT ALSO MEANS HAVING THE ABILITY TO PRODUCE WHAT IS NEEDED.
REV/DR. 'BIODUN ADEDIPE 9SEPTEMBER 2009
WEALTH (CONTD.)
A WEALTHY PERSON CAN ALSO BE SAID TO BE RICH, HAVING A LARGE AMOUNT OF MONEY OR POSSESSIONS.
WE SEE FROM THESE DEFINITIONS THAT BEING WEALTHY IS FAR MORE THAN BEING RICH. RICHES ARE POSSESSIONS ONLY, ALREADY OWNED. WEALTH ENCOMPASSES EITHER OR BOTH OF
POSSESSIONS AND CAPABILITY TO GENERATE POSSESSIONS.
REV/DR. 'BIODUN ADEDIPE 10SEPTEMBER 2009
WEALTH (CONTD.)
IT IS PREFERABLE TO BE WEALTHY THAN TO BE RICH.A WEALTHY PERSON MIGHT BE LITTLE IN
POSSESSIONS AS AT NOW, BUT HAVE HUGE POTENTIALS TO CREATE WEALTH.
WEALTH HAS CERTAIN ATTRIBUTES THAT ARE IMPORTANT FOR US TO KNOW RIGHT AWAY.
REV/DR. 'BIODUN ADEDIPE 11SEPTEMBER 2009
WEALTH (CONTD.)
WEALTH CAN CREATED, AND THAT DEPENDS ON FOUR THINGS PRIMARILY:WHO YOU KNOW.WHAT YOU KNOW.WHAT YOU DO.WHOSE YOU ARE.
THESE ARE THE KEYS TO CHRISTIAN BUSINESS PEOPLE AND PROFESIONALS.
REV/DR. 'BIODUN ADEDIPE 12SEPTEMBER 2009
WEALTH (CONTD.)
WEALTH CAN BE MULTIPLIED, AND THIS LARGELY DEPENDS ON YOUR CHOICES.
WEALTH HAS TO BE MANAGED, OTHERWISE IT WILL DISAPPEAR.THIS DEPENDS ON CHOICES MADE
DELIBERATELY, WITH THE FUTURE IN SIGHT.
REV/DR. 'BIODUN ADEDIPE 13SEPTEMBER 2009
PROFESSIONAL A PROFESSION IS A TRADE OR VOCATION,
UNIQUELY IDENTIFIED FOR THE SERVICES/PRODUCTS IT DELIVERS TO SOLVE PROBLEMS FOR THE SOCIETY.
A PROFESSIONAL THEN IS HIGHLY KNOWLEDGEABLE AND SKILLED, AND USES THESE TO DELIVER SOLUTIONS TO PEOPLE’S PROBLEMS.
REV/DR. 'BIODUN ADEDIPE 14SEPTEMBER 2009
ABOUT THIS CRISIS THERE ARE SWINGS TO LIFE, MOVING FROM
ONE EXTREME TO THE OTHER, AS MADE VERY PLAIN IN THE BIBLE IN GENESIS 8:22 AND ECCLESIASTES 3:1-8.
THE PROBLEM WITH MAN IS THAT HE LIKES HARVEST, BUT DOES NOT LIKE THE TOIL AND LABOUR OF SEEDTIME. HE ALSO WANTS HEAT WHEN NATURE BRINGS
COLD, AND HE FERVENTLY DESIRES COLD WHENEVER IT IS HOT!
REV/DR. 'BIODUN ADEDIPE 15SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
YET, WITH SOME KNOWLEDGE, MAN WILL UNDERSTAND THAT TROUBLE (WHAT YOU DON’T LIKE) WILL DEFINITELY COME. JOB 5:6-7. IT IS NOT THE ‘TROUBLE’ LIFE BRINGS
THAT IS THE ISSUE, BUT WHAT WE DO ABOUT THE TROUBLE.
REV/DR. 'BIODUN ADEDIPE 16SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
IN ECONOMICS, WE SAY THAT THE BUSINESS CYCLE IS INEVITABLE IN THIS LIFE.
THIS MEANS THAT THERE ARE FOUR PHASES TO HUMAN ACTIVITIES, WHICH APPLIES TO ANY SOCIETY, ORGANIZATION OR INDIVIDUAL.
FACT IS, RECESSION WILL INEVITABLY FOLLOW A BOOM, AND WHEN NOT ‘ATTACKED’ CAN PROGRESS TO A BURST BEFORE THERE CAN BE HOPE FOR RECOVERY!
REV/DR. 'BIODUN ADEDIPE 17SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
TIME
BOOM
RECESSIONRECOVERY
BUST
REV/DR. 'BIODUN ADEDIPE 18SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
SINCE THE GREAT DEPRESSION OF THE LATE 1920’s AND EARLY 1930’s, THERE HAS NOT BEEN A CRISIS OF THE KIND OF MAGNITUDE, COMPLEXITY AND SPREAD AS THE CURRENT ONE THE WORLD IS EXPERIENCING.
BETWEEN THEN AND NOW, EPISODES OF FINANCIAL CRISIS WERE LIMITED IN SPREAD AND EASILY CONTAINED. INDEED, THE CURRENT CRISIS IS UNIQUE IN SIX WAYS.
REV/DR. 'BIODUN ADEDIPE 19SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
THE WORLD HAS BECOME TRULY ONE BIG GLOBAL VILLAGE, WHERE DEEP INTERDEPENDENCE MAKES EVERYONE FEEL SO SAFE AND YET SO VULNERABLE.
THE ADVANCES IN FINANCIAL INNOVATION IN THE LAST THREE TO FOUR DECADES CREATED AN ILLUSION OF INCREASING ‘CAPACITY’ TO PREDICT AND THUS FORESTALL UPHEAVALS IN FINANCIAL MARKETS.
REV/DR. 'BIODUN ADEDIPE 20SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
MARKET EFFICIENCY THROUGH INFORMATION COMMUNICATION TECHNOLOGY HAS HUGELY SHORTENED THE TIME FOR POLICY/ACTION TRANSFERENCE.
INNOVATIONS AND WIDELY ACKNOWLEDGED CREATIVITY IN FINANCIAL MATTERS CREATED A CLASS OF ARROGANT ‘EXPERTS’ IN THE ACADEMIA AND AMONG PRACTITIONERS THAT ARE TREATED LIKE ‘ORACLES’ AND THEREFORE, CANNOT BE WRONG.
REV/DR. 'BIODUN ADEDIPE 21SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
THIS CRISIS CAUGHT MOST PEOPLE (‘EXPERTS’ INCLUSIVE) UNAWARES, BECAUSE THE WORLD IGNORED THE ‘GREED FACTOR’ IN HUMAN DECISIONS.
ITS DEPTH WAS DIFFICULT TO MEASURE, NEITHER IS IT EASY TO FORECAST ITS FUTURE EXTENT.
REV/DR. 'BIODUN ADEDIPE 22SEPTEMBER 2009
ABOUT THIS CRISIS (CONTD.)
ACCORDING TO THE LONDON ECONOMIST IN FEBRUARY 2009: “MANAGING A CRISIS AS COMPLEX AS THIS ONE HAS
SO FAR CALLED FOR NUANCE AND PRAGMATISM RATHER THAN STRIDENCY AND PRINCIPLE…ONLY THE FOOLISH AND THE PARTISAN HAVE REJECTED (OR EMBRACED) ANY SOLUTIONS CATEGORICALLY.”
OBVIOUSLY, THESE ARE UNUSUAL TIMES THAT POSE THE DEEPEST CHALLENGES TO ALL AND SUNDRY.
REV/DR. 'BIODUN ADEDIPE 23SEPTEMBER 2009
CAUSES SO, HOW AND WHERE DID THIS FINANCIAL
CRISIS BEGIN? THE CURRENT GLOBAL FINANCIAL CRISIS HAD
BEEN BREWING PRIOR TO 2007, BUT ITS EFFECT STARTED TO BE SEEN IN AUGUST 2007 AND BECAME A GLOBAL PHENOMENON BY JUNE 2008. LARGE FINANCIAL INSTITUTIONS THAT WERE DEEMED TO
BE VERY STRONG AND FAILURE-PROOF EITHER FAILED (LEHMAN BROTHERS) OR HAD TO BE BOUGHT OVER CHEAPLY BY THEIR COMPETITORS (MERRILL LYNCH).
REV/DR. 'BIODUN ADEDIPE 24SEPTEMBER 2009
CAUSES (CONTD.)
THE BENEFIT OF HINDSIGHT NOW MAKES AMERICAN FINANCIAL EXPERTS TO BELIEF THAT IT WAS A MISTAKE TO ALLOW LEHMAN BROTHERS TO FAIL. IT WAS ITS IMPLOSION THAT CATALYZED THE CRISIS INTO A
GLOBAL SCALE. ITS BANKRUPTCY WAS 10X THAT OF ENRON! AT THE HEART OF THE CRISIS WERE CREDIT DERIVATIVES,
WHICH ARE A FORM OF INSURANCE IN WHICH THE INVESTOR UNDERWRITES THE DEFAULT EVENTS IN CORPORATE DEBTS.
BY ENABLING THE SHARING OF CREDIT RISKS BY BREAKING THEM DOWN INTO SMALLER, DIGESTIBLE CHUNKS, DERIVATIVES CREATED AN ILLUSION OF SAFETY FOR ALL THEIR STAKEHOLDERS.
REV/DR. 'BIODUN ADEDIPE 25SEPTEMBER 2009
CAUSES (CONTD.)
INDEED AND ORDINARILY, DERIVATIVES ARE GOOD FOR RISK HEDGING.
HOWEVER, PROBLEMS AROSE FROM TWO PREMISES:
WHAT THEY WERE USED FOR – SPECULATION!
WHAT IT LED MARKET PARTICIPANTS TO BEGIN TO DO – BANKERS BECAME CARELESS IN LENDING.
REV/DR. 'BIODUN ADEDIPE 26SEPTEMBER 2009
CAUSES (CONTD.)
BRITISH COMEDIANS, JOHN BIRD AND JOHN FORTUNE, PUT IT SUCCINCTLY AS:
“A COLLAPSE OF THE US SUB-PRIME MORTGAGE MARKET AND THE REVERSAL OF THE HOUSING BOOM IN OTHER INDUSTRIALIZED ECONOMIES HAVE HAD A RIPPLE EFFECT AROUND THE WORLD. FURTHERMORE, OTHER WEAKNESSES IN THE GLOBAL FINANCIAL SYSTEM HAVE SURFACED. SOME FINANCIAL PRODUCTS AND INSTRUMENTS HAVE BECOME SO COMPLEX AND TWISTED, THAT AS THINGS START TO UNRAVEL, TRUST IN THE WHOLE SYSTEM STARTED TO FAIL.”
REV/DR. 'BIODUN ADEDIPE 27SEPTEMBER 2009
CAUSES (CONTD.)
ALL THESE HAVE BEEN SUMMARIZED IN THE TRADE AND DEVELOPMENT REPORT FOR 2008 AS: THE GLOBAL FALLOUT FROM THE FINANCIAL CRISIS IN THE
UNITED STATES. THE BURSTING OF THE HOUSING BUBBLES IN THE US AND
IN OTHER LARGE ECONOMIES. THE BENEFIT OF HINDSIGHT WAS ARGUED BY BERNANKE AND GERTNER (2001)
THAT THIS WAS A MAJOR FACTOR IN THE ECONOMIC DEPRESSION OF THE LATE 1920s.
SOARING COMMODITY PRICES. INCREASINGLY RESTRICTIVE MONETARY POLICIES IN A
NUMBER OF COUNTRIES. STOCK MARKET VOLATILITY.
REV/DR. 'BIODUN ADEDIPE 28SEPTEMBER 2009
IMPLICATIONS
FINANCIAL SYSTEMS WENT INTO TURMOIL AND ESPECIALLY BANKS SUSTAINED HUGE LOSSES THAT THREATENED THEIR EXISTENCE, AND MADE RECAPITALIZATION INEVITABLE.
TO ENSURE THAT BANKS DO NOT FAIL IN LARGE NUMBERS, GOVERNMENTS INTRODUCED FISCAL STIMULUS PACKAGES AROUND THE WORLD, ESTIMATED BY IMF AT US$4.1 TRILLION!
REV/DR. 'BIODUN ADEDIPE 29SEPTEMBER 2009
IMPLICATIONS (CONTD.)
THE ENSUING CREDIT CRUNCH AFFECTED ADVERSELY COMMODITY CONSUMPTION, INCLUDING A SHARP DROP IN THE DEMAND FOR CRUDE OIL (BY CHINA AND INDIA ESPECIALLY) AND CAUSED THE PRICE OF CRUDE TO DROP FROM ITS PEAK OF $147/BBL IN JULY 2008 TO SUB-$40/BBL BY END-2008. RECOVERY HAS PUSHED IT UP TO ABOUT $70/BBL.
REV/DR. 'BIODUN ADEDIPE 30SEPTEMBER 2009
IMPLICATIONS (CONTD.)
COUPLED WITH REDUCTION IN CRUDE OUTPUT DUE TO THE UNREST IN THE NIGER DELTA REGION, THE NIGERIAN GOVERNMENT REVENUE HAS REDUCED SIGNIFICANTLY. THUS, BUSINESS WITH THE GOVERNMENTS WILL NOT BE AS USUAL.
JOB LOSSES, ESPECIALLY IN THE BANKING INDUSTRY. THIS ALSO HAS MEANT STOPPAGE OF NEW RECRUITMENTS IN FINANCIAL SERVICES.
REV/DR. 'BIODUN ADEDIPE 31SEPTEMBER 2009
IMPLICATIONS (CONTD.)
TYPICAL OF HUMAN BEINGS IN CRISIS, COMMON SENSE HAS COME INTO PLAY, AS DISCRETIONARY INCOME SHRINKS.
SECURITY CHALLENGES AND SUICIDAL TENDENCIES HAVE ESCALATED, AS MORE PEOPLE HAVE BECOME DESPERATE AND DESPODENT.
REV/DR. 'BIODUN ADEDIPE 32SEPTEMBER 2009
IMPLICATIONS (CONTD.)
THE EXCHANGE VALUE OF THE NAIRA WEAKENED AGAINST NIGERIA’S MAJOR TRADING CURRENCIES (ABOUT 20% AGAINST THE US DOLLAR), MAKING INVESTING IN NIGERIA ATTRACTIVE TO FOREIGNERS.
NIGERIA BEING A NET IMPORTER OF BOTH OIL AND NON-OIL GOODS, THE WEAKENED NAIRA AND SHRINKING REVENUE BASE IMPLY MORE EXPENSIVE IMPORTS, AFFECTING THE GENERAL PRICE LEVEL.
REV/DR. 'BIODUN ADEDIPE 33SEPTEMBER 2009
WHAT’S THE NEXT STEP?
THE STARTING POINT IN ANY SITUATION IN LIFE, INCLUDING AT A TIME OF CRISIS LIKE THIS, IS THE WORD OF GOD.
WHAT DOES THE WORD SAY ABOUT HOW WE SHOULD HANDLE ECONOMIC CRISIS, WHICH IS REFERRED TO IN THE BIBLE AS FAMINE?
IT IS NOT THE FAMINE THAT MATTERS, BUT WHO YOU LISTEN TO.
REV/DR. 'BIODUN ADEDIPE 34SEPTEMBER 2009
NEXT STEP (CONTD.)
ALSO, DIFFERENT TIMES AND SEASONS BRING FAMINES OF DIFFERING NATURE, AND IT IS THE ALMIGHTY GOD THAT WILL INSTRUCT YOU WHERE TO GO AND WHAT TO DO.
ABRAHAM IN GENESIS 12 WENT TO EGYPT AND CAME OUT OF IT WEALTHY, WHILE ISAAC WAS INSTRUCTED IN GENESIS 26:1-2 NOT TO GO DOWN TO EGYPT. ISAAC REMAINED IN GERAR AND PROSPERED
TREMENDOUSLY, AS WE SEE IN GENESIS 26:12-13.
REV/DR. 'BIODUN ADEDIPE 35SEPTEMBER 2009
NEXT STEP (CONTD.)
JACOB LEFT CANAAN FOR PADANARAM WITH ONLY A STAFF, BUT FOLLOWING GOD’S INSTRUCTIONS, TIME AFTER TIME, HE BECAME A WEALTHY MAN. GENESIS 32:10. IT WAS OBVIOUSLY THE ‘WISDOM FROM
ABOVE’ THAT JACOB RECEIVED AND APPLIED IN GENESIS 30:30-34.
REV/DR. 'BIODUN ADEDIPE 36SEPTEMBER 2009
NEXT STEP (CONTD.)
THERE MUST HAVE BEEN TOUGH TIMES ALSO DURING THE TIMES OF DAVID AND SOLOMON, BUT THEY WERE VERY WEALTHY!
THE APOSTLES ALSO LACKED NOTHING, OTHERWISE THE BIBLE WOULD HAVE RECORDED THAT FOR US.
THE STARTING POINT FOR BELIEVERS IS NOT TO JOIN PEOPLE TO COMPLAIN ABOUT THE CRISIS. LOOK FOR THOSE WHO ARE OPTIMISTIC AND STRIVING,
AND FOLLOW/JOIN THEM.
REV/DR. 'BIODUN ADEDIPE 37SEPTEMBER 2009
NEXT STEP (CONTD.)
LATE JOHN F. KENNEDY “THE CHINESE USE TWO BRUSH STROKES
TO WRITE THE WORD 'CRISIS'. ONE BRUSH STROKE STANDS FOR DANGER; THE OTHER FOR OPPORTUNITY. IN A CRISIS, BE AWARE OF THE DANGER-BUT RECOGNIZE THE OPPORTUNITY.”
REV/DR. 'BIODUN ADEDIPE 38SEPTEMBER 2009
NEXT STEP (CONTD.)
CHIN-NING CHU “WITHOUT THE STRENGTH TO ENDURE THE
CRISIS, ONE WILL NOT SEE THE OPPORTUNITY WITHIN. IT IS WITHIN THE PROCESS OF ENDURANCE THAT OPPORTUNITY REVEALS ITSELF.”
REV/DR. 'BIODUN ADEDIPE 39SEPTEMBER 2009
WHERE ARE THE OPPORTUNITIES? BUSINESS OPPORTUNITIES EXIST
EVERYWHERE AND ALL AROUND US. THEY ARE LIKE RADIO SIGNALS THAT CARRY
PICTURES (DISPLAYED IN TELEVISION SETS) AND ELECTRONIC MAILS (DELIVERED TO OUR E-MAIL ADDRESSES).
THESE CANNOT BE SEEN WITH THE PHYSICAL EYES, BUT FOR SURE THEY MOVE ALL AROUND US, AND ONLY THE RIGHT EQUIPMENT WILL ENABLE US TRAP AND RECEIVE THEM.
REV/DR. 'BIODUN ADEDIPE 40SEPTEMBER 2009
WHERE ARE THE OPPORTUNITIES? (CONTD.)
IT IS NOT OUR GEOGRAPHICAL LOCATION THAT IS THE ISSUE, BUT WHAT THE GOOD LORD PERMITS US TO SEE AND TO BEGIN TO DO. SOME SEE AND DON’T DO, AND SOME DO WHAT
THEY DON’T SEE. IT IS IMPORTANT ALSO TO HEAR FROM THE
LORD. DON’T FOLLOW THE CROWD.
REV/DR. 'BIODUN ADEDIPE 41SEPTEMBER 2009
THINGS TO DO
THE PECULIARITY OF OUR GOD IS THAT HE IS IN CHARGE, WHETHER THERE IS CRISIS WITH MAN OR EVERYTHING IS WORKING WELL. ISAIAH 35:2-4 (MSG).
SOMEBODY NEEDS TO GET UP AND BRUSH OFF THE DUST, AS THE BIBLE SAYS IN ISAIAH 52:2 (MSG).
REV/DR. 'BIODUN ADEDIPE 42SEPTEMBER 2009
THINGS TO DO (CONTD.)
GOD IS THE ONE THAT GIVES US THE POWER TO GET WEALTH. DEUTERONOMY 8:18. ANY WEALTH THAT MAN OBTAINS OR GETS OUTSIDE OF HIM
IS FAKE AND WILL NOT LAST. A TIME LIKE THIS (CRISIS) IS THE BEST TIME TO SOW,
WHICH IS CONTRARY TO THE WISDOM OF THE WORLD. GENESIS 26:12-13.
THE WORLD COUNTS GIVING AS LEADING TO REDUCTION, WHILE GOD COUNTS IT AS WORKING ASSUREDLY TOWARDS INCREASE. PROVERBS 11:24.
REV/DR. 'BIODUN ADEDIPE 43SEPTEMBER 2009
THINGS TO DO (CONTD.)
THE BREAD AND SEED PRINCIPLE APPLIES VERY WELL IN A CRISIS SITUATION.DON’T EAT YOUR BREAD, AND DON’T SOW
YOUR BREAD.BOTH OF THEM ARE SUPPLIED BY GOD, AND
YOU MUST BE WISE ENOUGH TO SEEK HIS FACE ON WHAT TO DO WITH WHAT HE HAS GIVEN YOU. 2 CORINTHIANS 9:10.
REV/DR. 'BIODUN ADEDIPE 44SEPTEMBER 2009
THINGS TO DO (CONTD.)
SCATTERING IN VERY PRACTICAL TERMS INCLUDES: LOOKING BEYOND A MAN YOU KNOW, BUT UNTO
GOD, THE SOLE SOURCE OF ALL ENDURING GOOD THINGS. ASK HIM FOR HELP.
BUILDING FURTHER ON WHAT YOU ALREADY KNOW.
ANYTHING YOU WANT TO VENTURE INTO, GET ALL THE AVAILABLE INFORMATION ON IT AND BECOME THE EXPERT IN IT.
PEOPLE ALWAYS SEEK FOR EXPERTS WHEN PROBLEMS NEED TO BE SOLVED!
REV/DR. 'BIODUN ADEDIPE 45SEPTEMBER 2009
THINGS TO DO (CONTD.)
SCATTERING (CONTD.): USE WHAT YOU CAN DO. THERE IS SOMEONE
SOMEWHERE THAT NEEDS THAT JOB YOU CAN DO VERY WELL.
LEARN MORE ABOUT IT AND SEEK TO BE THE BEST IN IT, AND LET PEOPLE KNOW YOU CAN.
THE MORE VALUE YOU ADD TO YOURSELF, THE MORE VALUABLE YOU BECOME.
NEVER FORGET WHOSE YOU ARE – YOU BELONG TO GOD.
KEEP YOUR FAITH IN HIM FIRM AND STRONG.
REV/DR. 'BIODUN ADEDIPE 46SEPTEMBER 2009
END NOTES
CRISIS IS NOT A PERMANENT PHENOMENON.
IT ONLY REQUIRES US TO CHANGE OUR MINDSET.
WE MUST UNDERSTAND THOUGH THAT ‘THE SUN WILL NOT ALWAYS SHINE’, BUT SURE THE NIGHT WILL SOON BE OVER AND THE SUN WILL RISE AGAIN. PSALMS 30:5.
REV/DR. 'BIODUN ADEDIPE 47SEPTEMBER 2009
END NOTES (CONTD.)
CONTINUE IN THE CONFIDENT ASSURANCE (ISAIAH 32:17) THAT CRISIS OR NO CRISIS, GOD DOES NOT CHANGE (MALACHI 3:6 AND HEBREWS 13:8)
WE DON’T PICK UP WEALTH, BUT WORK FOR IT.
THESE ARE NOT TIMES FOR THE LAZY PERSON. WE MUST WORK HARDER AND SMARTER,
DEPENDING ON GOD, TRUSTING THE LORD JESUS.
REV/DR. 'BIODUN ADEDIPE 48SEPTEMBER 2009
THANK YOUGOD BLESS
REV/DR. 'BIODUN ADEDIPE 49SEPTEMBER 2009
SELECTED REFERENCES
BERENSON ALEX, THE NUMBER, HOW AMERICA’S BALANCE SHEET LIES ROCKED THE WORLD’S FINANCIAL MARKETS (POCKET BOOK, 2004).
BERNANKE S. BEN, ASSET-PRICE “BUBBLES” AND MONETARY POLICY, REMARKS BEFORE THE NEW YORK CHAPTER OF THE NATIONAL ASSOCIATION OF BUSINESS ECONOMICS (OCTOBER 15 2002).
CONTACT GROUP ON ASSET PRICES, TURBULENCE IN ASSET MARKETS: THE ROLE OF MICRO POLICIES (SEPTEMBER 2002).
REV/DR. 'BIODUN ADEDIPE 50SEPTEMBER 2009
SELECTED REFERENCES (CONTD.) ECONOMIST (LONDON), ISSUE OF 19TH APRIL 2007. KANAGA RAJA, ECONOMIC OUTLOOK GLOOMY,
RISKS TO SOUTH, SAY UNCTAD, THIRD WORLD NETWORK, SEPTEMBER 4, 2008.
MILNE ALISTAIR, THE FALL OF THE HOUSE OF CREDIT (CAMBRIDGE UNIVERSITY PRESS, 2009).
SHAH ANUP, GLOBAL FINANCIAL CRISIS 2008, WWW.GLOBALISSUES.COM
TRICHET JEAN-CLAUDE, ASSET PRICE BUBBLES AND MONETARY POLICY, SPEECH AT MAS LECTURE, SINGAPORE, 8TH JUNE 2005.