1 He who dwells in the shelter of the Most High will abide in the shadow of the Almighty. 2 I will say to the LORD, “My refuge and my fortress, my God, in whom I trust.”
With markets reeling in recent weeks over the sovereign debt crisisâ€”the inability of sovereign nations to pay their billsâ€”and the downgrade of our country’s own credit rating, I’ve been hearing colleagues at the financial institution where I work ask, is this 2008 all over again?
Debt is about creditors. Credit is about trust. A famous dictum by 19th century journalist Walter Bagehot was, “Every banker knows that if he has to prove he is worthy of credit, however good may be his arguments, in fact his credit is gone.”
When you hear terms like “value destruction,” it means there has been a breakdown in trust. So, the markets, then, rather than being a place where shareholders invest in companies, have become, as Jon Stewart put it succinctly, “like a giant mood ring and we get to watch.” And we once again see layoffs in the headlines again.
Whet do we make of times like this? In the “sky is falling” type moments like this, what am I to believe?
It’s right here, in this Psalm: His protection is real. His strength and presence is like the bulwark of a fortress. The good faith and credit of our King will never falter. He is trustworthy. He is our protector.
Has anxiety enveloped you? A development unfolded this week that you couldn’t have seen coming? Hold fast to the Lord. He has foreseen these events. He walks through them with you.