A World in Debt

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Episode #1103 | Added August 3, 2012

World debt level is rising by the minute. Greece, Italy and the United States are facing huge decisions on how to repay government debt and avoid jeopardizing the global economy. Average citizens are reportedly experiencing household and personal debt levels at all-time highs. So, how did the situation get so bad? And what lessons can we learn from this current crisis? Let's put it in Context.

Lorna's Wrap

Today on Context we were challenged to put priority with God, over priority with money. When we don't, I think there are  three key relationships in our lives suffer. First, the one with God -- you can’t serve two masters, and money can become a rival god. 
Second -- our relationship with others is at risk in money woes -- people we love suffer when what we can buy outpaces who we love.
Finally - our relationship with our self  becomes broken when we confuse our self worth with our net worth. 
Asking God for the strength to keep our priorities around money is a priceless opportunity for security.  

Resources

Guests

David Pett
Financial Post  

Michel Bell
Author & Financial Counsellor

Nada Thompson
Currently paying back heavy debt load 

Context

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