It was 135 years ago today that the Philadelphia banking firm Jay Cooke and company filed for bankruptcy and began what is known as the Panic of 1873. It seems they were stuck with millions of railroad bonds that they couldn’t sell. Two days later, the stock market closed for 10 days. Soon 89 railroads went bankrupt and within 2 years, 18,000 companies went under.
Fast forward to 2008, and we are about to panic again. Financial panic is just a part of the American cycle. Stability never lasts. Speculators always want more. Regulations may help, (the stock market is not closing down for 10 days) but what goes up will always come down.
Jesus said that where our treasure is, there is our heart. Whereas stocks and futures may be a good place to put your money, it’s a bad place to put your heart. Your money won’t panic, but your heart will.
A heart panic might just turn into a heart attack.
Instead of being an economic indicator, our hearts were created to love and cherish. Our heart motivates us to serve and be faithful. Oh you might argue that money makes it easier to serve, but when has service ever been about ease. Lose all your money and you still have something to share with others – your heart.
So while the news of the day may seem depressing, remember it is just money. If it’s not worthless yet, it will be when Jesus comes back.
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