Gamestop and Greed

Sovereign Grace Family Church iconSovereign Grace Family Church

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Two weeks ago, nobody cared about Gamestop. The company was close to moving into the same obscurity as Blockbuster Video. But with the advent of a new generation of stock traders and commission free trading, things have changed... but what's it all about? Pastor Keith and his guest, CPA Jaret Rice discuss this situation in today's interview.

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00:03
Hello, welcome back to Coffee with a Calvinist.
00:07
This is a daily conversation about scripture, culture and media from a Reformed perspective.
00:15
Get your Bible and coffee ready and prepare to engage today's topic.
00:21
Here's your host, Pastor Keith Foskey.
00:24
Welcome back to Coffee with a Calvinist.
00:26
My name is Keith Foskey and I am a Calvinist.
00:30
Today I have a special guest on the program with me, one of my favorite people in the entire world.
00:37
Myself and this person have been friends for over 20 years.
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This is Jarrett Rice.
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He is a CPA and partner at the Hearst Company and he has over 20 years experience in doing finances and taxes and he's starting this year his 22nd tax season.
01:00
Jarrett, thank you for being on the program with us today.
01:03
Glad to be here.
01:04
Well, I'm glad to have you and I mentioned you're one of my favorite people in the world and I say that really with all honesty.
01:11
We met when I was in the, I think I was in the 10th grade and you were, no, I was in the 9th grade and you were in the 11th grade and we went on a trip to Williamsburg, Virginia with the band and because one of the people that were supposed to be in my room ended up not being able to come on the trip, you ended up being put in my room and from there flowered a very long friendship and that's, we've been friends for that, for that amount of time.
01:40
You remember that trip? Oh yeah.
01:42
We hung out in Bush Gardens, Williamsburg, had a lot of fun and the rest is history.
01:47
That's right.
01:48
That's right.
01:49
And you, you used to be so nice.
01:50
You would come and pick me up and we would go to school in your big red, what was that, Grand Marquee? The 1985 Mercury Grand Marquee, red with a white top.
02:01
That was, that was, that car was awesome.
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It was like riding in a yacht.
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It was so big and so comfortable and we would ride, you would come pick me up, we'd go to school and then every once in a while, and I say this to my shame today, we would skip out of school and go to eat lunch at Marco Polo.
02:20
Oh my goodness, what an exact change.
02:23
Thinking back, I wonder, did we not leave a tip ever that we walked in with literal exact change? Yeah, we knew exactly how much it cost because we were so desperate to go, we had to count up to see if we had enough and we would go and like you said, I feel bad, we should probably next time I go, I should leave an extra tip to make up for the times that we didn't leave a tip because I do believe it's still the same workers at the restaurant.
02:47
Oh goodness, that's a long time to be there.
02:50
Yeah.
02:51
So anyway, just giving folks a little history, I want to explain what we're doing today on the program.
02:57
As many of you know, it has been a wild couple of weeks in the financial section of our nation.
03:07
The stock market has become a topic of conversation around dinner tables and people who never discussed investing before have been talking about investing and because of apps like Robinhood and Webull and other companies like that, people are now getting into investing who were never in investing before.
03:29
And one of the things I think that kept people out of investing was before all of these apps, there used to be charges that were associated with doing trades.
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So if you were going to do a trade for some kind of stock, there would be some kind of a commission you would have to pay.
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And when Robinhood came out and these other apps came out, now the commissions are gone and so you can go in and even if you only made $5 on a trade, that's $5 you didn't have.
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And so people are willing to go in and trade like they never have before.
04:00
And I do think that this has increased a lot of people's thinking about their future.
04:06
When I was in school, I never learned anything about investing.
04:08
My father was a blue collar worker and he had a union that took care of him.
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So there wasn't, he didn't ever talk to me about investing.
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He talked about stocks but that was what the union gave, you know, they earned stock options from the union.
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It wasn't something that he taught me how to do.
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And so I grew up not knowing anything about the market or anything like that.
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And apps like Robinhood and Webull and things like this, this is creating an opportunity for young people to learn about investing.
04:37
Would you say that's a pretty good thing, Jarrett, that this is happening? Yeah, yeah.
04:43
But with it comes some bad things because you have folks putting money into these accounts without really any knowledge of how it works.
04:51
So they're just going out and making trades based on really little knowledge of what they're investing in.
04:57
But what you said is exactly right.
04:59
Just a few years ago, you'd have to pay $10 on a purchase and $10 on a sale.
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So you'd have to make at least $20 in profit to even make it worth it.
05:08
And now with these low cost or no cost services, it makes it really easy.
05:15
Yeah.
05:15
And it's easy to invest.
05:17
It's also easy to lose a lot too.
05:19
Exactly.
05:19
Exactly.
05:20
And as we've seen, just two weeks ago, people have begun GameStop has become a topic of conversation because it was the stock that everybody wished they had three weeks ago.
05:35
Everybody wished they'd have bought in at the $2 or $3 mark because it shot up to $350, $400, I think even higher than that at one point.
05:43
And now people are having the conversation, well, is this going to happen again? Should I go out and buy another $2 or $3 stock with the hopes that it's going to have a 5,000% return or something to that effect? And people are wanting to get in on this trend and of course, Bitcoin, which I don't even understand digital currency and how that's even a thing, but I understand Bitcoin is now worth $30,000 where it was trading for just a few dollars, you know, 10 years ago or however, whenever it started, it's an amazing, the changes that have happened.
06:19
And so basically what I wanted to, the reason why I asked you in the program today, Jared, is as a financial professional, as a person who works with other people's money all the time and well, you don't work, you work with helping people manage their taxes and you help people understand the right and wrong ways to basically do what's right with their money.
06:42
I hope I know that sounds kind of, maybe I'm saying it incorrectly.
06:46
As a tax professional, your job is to help people with their finances.
06:53
Is that simple? Right, right.
06:55
Yeah.
06:55
There are some CPAs that get into actual money management, but we stay out of that.
07:00
But we do a lot of advising in that area.
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So we have to stay up on these types of things.
07:06
And you are very soon going to be starting a podcast of your own where you and Hank, your partner, are going to be doing a podcast about how people, like we've already talked about some of the episodes you're going to talk about if somebody's going to open a business, whether they should open a corporation or an LLC or a sole proprietorship and what it means and how the taxes on those things are different.
07:29
And you've helped me in the past.
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I had a t-shirt business.
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You helped me know how to do that.
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I had a karate school.
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You helped me, like I said, we've been friends all these years.
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And so certainly your advice has been invaluable to me.
07:43
And I know that it's invaluable to your clients.
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And I'm sure that people who are needing that advice are going to be really encouraged by your podcast.
07:53
So just a quick shout out that will be hopefully airing within the next couple months, getting it put together, getting programs put together.
08:00
And what is it? Two Southern CPAs? How is that? All things tax.
08:05
All things tax.
08:06
Two Southern CPAs.
08:07
Yeah, we want to try to take the complicated tax and accounting world and make it easier for folks to understand and provide practical advice so that small business owners or people looking to start small businesses can get something really useful.
08:23
Awesome.
08:23
Awesome.
08:23
Well, I'm looking forward to listening to it and I know a lot of people are as well.
08:28
So let's go back and talk about the GameStop thing for just a moment.
08:33
Can you give us some insight into, everybody's heard the term, the shorting the stocks.
08:40
And that's what caused the issue with GameStop.
08:42
What is the definition of shorting a stock? And for somebody who doesn't know how stocks trade and things like that, can you give a basic sort of technical, basic definition of that? Well, the basic idea of a short sale is that you're betting that the value will go down.
09:01
And if it goes down, then you win.
09:03
So what does that really mean? You sell a stock that you don't actually own.
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So you borrow the securities in anticipation of the price going down, then you're required to return an equal number of shares at some point in the future.
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So if the price does go down, then the amount that you have to pay in the future is much less than the amount in which you borrowed.
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So you get to keep the difference.
09:34
Okay.
09:34
All right.
09:35
Now, I heard a person describe it this way, and you tell me if you think this is accurate.
09:40
Let's say you have an Xbox and you let me borrow your Xbox.
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And I've got Jarrett's Xbox.
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And currently, Xboxes are, the price of them is going down.
09:58
And so I could sell your Xbox today for $50.
10:02
But I think next week, I'll be able to buy it back for $10.
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And so I could make $40 and ultimately, you still get your Xbox back and everybody's fine.
10:15
But if next week, suddenly Xboxes have changed in value, and Xboxes are now worth $500, well, now I'm up the creek because I still have to give you your Xbox back.
10:29
Right.
10:30
So you have to come out of pocket $500 in order to make me whole.
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So you have lost a significant amount of money in order to make me whole.
10:38
That's exactly right.
10:40
Okay.
10:41
Exactly right.
10:42
So looking at it from that perspective, then what we can say is that what has happened is the company or these hedge fund managers purchased or sold Xbox stock, or sorry, GameStop stock in anticipation that later they'll be able to buy it back much cheaper.
11:10
And along comes these guys who are gathering together online to make this happen.
11:17
And you and I talked about this before the program.
11:19
It was a group, what was the name of the group? Wall Street Bets.
11:23
Wall Street Bets.
11:24
And this is a group on an online forum called Reddit, which neither you nor I have ever used.
11:29
So we can't really give an explanation as to how it works.
11:32
But I think it's like an online message platform seems to be.
11:35
And there are actually millions of people that are involved in Wall Street Bets.
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So it's not a small group.
11:44
Yeah.
11:45
So all of these people go in and they begin to purchase, which makes the value of the company skyrocket.
11:53
And from what I understand, their, what's the word? Their motto was to the moon.
12:01
And basically what that meant was we're trying to rocket this stock as high as it'll go all the way to the moon.
12:07
And in doing so, they leave the people who were shorting the stock basically high and dry.
12:16
Exactly.
12:17
Exactly.
12:18
And it wasn't just GameStop that was affected.
12:21
You know, it happened to Bed Bath & Beyond, BlackBerry, AMC, movie theater, but they all were in the same type of position.
12:29
And what's interesting about all those companies you just mentioned, I don't mean to interrupt you, but all those companies you just mentioned are all companies that we would say are pretty much on the downtrend.
12:38
You got BlackBerry, which, you know, hasn't been selling phones, you know, since iPhone, you've got Bed Bath & Beyond, which, you know, stores are closing, AMC, nobody's going to the theaters because of COVID.
12:50
So all of these are companies that the assumption is, yeah, they're losing value.
12:55
Right.
12:56
Right.
12:56
And with the exception of AMC, because that one actually has the prospects of coming back once COVID is over.
13:03
The other ones were already on the downswing because take, for example, GameStop, folks are downloading more games.
13:10
You know, you can download games directly to your Xbox or your Nintendo Switch.
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You don't have to buy cartridges anymore.
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So why would you go to the store when you can pay the same amount and never leave your house? Yep.
13:22
Yeah, absolutely.
13:23
So it was funny.
13:25
I did see a funny joke online.
13:28
It said GameStop has so much money now they can start at least giving fair trades on video games.
13:34
Yeah.
13:35
Yeah.
13:36
So these companies are kind of sitting off to the side, not doing very well.
13:41
Not a lot of buying and selling going on because there's no interest, you know, their prospects are not good.
13:47
So whenever this group of Wall Street bets comes in and decides we're all going to jump in on just these few things and sink a ton of money into them, that causes their price to shoot up.
13:59
You know, meanwhile, yes, the hedge fund companies were shorting those stocks because they thought it's only going to get worse.
14:06
This is a sure bet to make money.
14:08
And of course the Wall Street Bets folks, they spoiled that for the true Wall Street hedge fund people.
14:15
Yeah.
14:16
I heard one particular company, I don't remember the name of it, but actually had to file bankruptcy over it or had to get help from another company that it was so bad that they lost billions over it.
14:28
I don't know if you heard about that.
14:30
That just seemed like it was almost unreal that how much money they had lost.
14:36
Yeah.
14:37
It's a crazy situation because it starts a kind of a snowball effect because the fact that they sink a lot of money into it causes this spike in price.
14:47
Well, what that does is that forces all the short sellers to then they have to buy it at that higher price.
14:54
So they're losing billions of dollars because of it.
14:57
And that causes what's called a short squeeze because when the short sellers have to then rebuy it in large quantities, then that causes it to go upward even more.
15:10
Oh, wow.
15:11
Okay.
15:12
So that may have been what pushed the price up even higher.
15:16
Because I mean, I remember the first day I heard about GameStop, it was at 160.
15:20
This was when it had made its first initial jump.
15:22
Then it was at 300.
15:24
Then it was at 400.
15:26
And now it's back down to 90.
15:28
I think it's somewhere sitting around 95 today.
15:31
I was looking at the market today.
15:35
Yep.
15:36
And then one interesting thing to note in this situation is that Robinhood, which is a popular no fee platform to do investing, they stopped the ability to trade.
15:54
GameStop temporarily because they were trying to help people to keep them away from this extreme volatility.
16:01
Yep.
16:01
Well, then there was a lot of pushback.
16:04
And interestingly enough, the name of their company is Robinhood.
16:07
And they felt like it was the exact opposite of what Robinhood stands for.
16:12
You're supposed to rob from the rich and give to the poor, right? And they said, well, Robinhood is now Prince John because he is now helping the Wall Street hedge fund people not be as impacted under the guise of, I'm going to help my customers from volatility.
16:27
But all that pushback put Robinhood in a situation where they backed off and said, okay, well, we'll let you trade after all.
16:36
Yeah, but by that time, the damage I think was already done.
16:40
We see that there was already lawsuits filed and even Alexandria Ocasio-Cortez, I think she was a congresswoman from New York, came out against what Robinhood was doing.
16:54
And other companies did it as well.
16:57
And what's his name? Ted Cruz agreed with her.
17:03
And I was like, the first time I've ever seen those two agree on anything was the furthest distance from each other politically.
17:11
But they both agreed that in a free market, you can't tell somebody they can't buy something.
17:17
And that's ultimately what they were doing with the Wall Street bets.
17:21
They were saying, you can't buy this anymore and trying to mitigate the damage.
17:25
Now, and that leads really to the question of the day.
17:29
And you and I both are believers in Christ.
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You and I both are Christians.
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So we have a worldview that should be molded by scripture and molded by biblical ethics.
17:45
And when you start dealing with things like the stock market, it is a speculative activity.
17:55
No one knows if a stock's going to go up or down.
17:57
It's always you're speculating based upon trends and what it did before and what you think it's going to do next.
18:04
And so there is a sense in which I wouldn't call it gambling in the same way somebody going in and throwing a $20 bill down on a craps table or a blackjack table.
18:18
But it still has a form of risk that any business venture would have.
18:24
When I started my t-shirt business, there was risk.
18:27
I mean, I purchased things and I bought instruments and tools and equipment that I could have not sold one t-shirt and I would have been out a lot of money.
18:40
And the same goes with my karate school.
18:43
I didn't make a lot of money with that because I was young and I didn't know how really to run a business and how to advertise and those things.
18:50
And so anytime you get into business, there is a risk involved.
18:54
But do you think that the risks and the things that have happened in regard to GameStop, that there's more than just natural market risk that has come to play? And do you think there's a larger moral implication here than people are recognizing? Yeah, I certainly do.
19:20
Because whenever you invest, from a technical standpoint and just kind of logical standpoint, you should invest in something that you understand and based off of some type of research into whether it's a good investment.
19:37
But what they were doing in this situation, Wall Street Bets in particular, was a kind of a stick it to the man type move.
19:46
I am going to show these Wall Street folks how it's done to get at them and they weren't thinking of the collateral damage.
19:56
See, these Wall Street guys, yes, they're very wealthy, but they manage assets for regular people.
20:02
I'll give you an example.
20:03
It could be the New York City Teachers Pension Fund that you can imagine is worth billions of dollars because they have thousands and thousands of employees.
20:13
So when you hurt these Wall Street folks, you're hurting a lot of regular people as well and taking them down with you.
20:22
And it doesn't make sense from an investment standpoint that you would do that.
20:29
It's not a wise investment.
20:31
I mean, you're just trying to hurt someone.
20:33
Okay, and just for a counterpoint on that, what if someone said, well, these guys who are these hedge fund guys, they do this kind of stuff all the time, right? They are the consummate market manipulators.
20:54
They are constantly doing these types of things.
20:57
Would you have a response to somebody who said that? How would you respond to that? Well, that may be true, but we're not called to do unto others what they do to you.
21:11
Okay, and that's true.
21:12
Like I said, we have a Christian worldview, right? Our worldview should be molded by scripture, first of all, right? Yeah, absolutely.
21:23
Exactly.
21:23
Exactly.
21:25
Yep.
21:25
And, you know, I got to thinking about it too.
21:29
Back in the, and you may remember this, I'm sure you do, back in 08, there was the housing market bubble that burst.
21:38
And there was a film that came out about it.
21:40
Now, I've not seen the film, but I've seen previews for it.
21:44
It's called The Big Short.
21:45
Did you ever see that? I have not seen it.
21:48
Okay, I haven't either.
21:49
But it's basically, what got my attention was the word short, because the idea was short sale and everything's going on with GameStop made me, it came to mind.
21:58
So I just looked it up and sort of read the, you know, overview of the movie.
22:02
And basically it's about, it's a fictional tale, but it's a tale of what happened supposedly back in 2008 when houses were essentially being sold, no money down, very little credit required, you know, to purchase.
22:20
And there were people who were purchasing two or three houses because they were able to get the loans on two or three houses.
22:29
And they were trying to turn around and sell those houses or turn them into rental properties and things like that.
22:35
And what it did was it ended up hurting a lot of people as the collateral, what you talked about, the collateral damage was there were so many people who ended up going bankrupt.
22:46
There were so many people who ended up losing their homes.
22:48
There were people who honestly should not maybe have been given loans because they did not have the amount of down payment.
22:58
They did not have the right credit.
23:00
They had not established themselves.
23:02
And yet they were able to buy these houses.
23:05
And as a result, it caused a huge financial problem.
23:11
And even now, I mean, the housing market is great now, but it wasn't for years.
23:15
I mean, the housing market went down a lot.
23:19
And I know that's a different situation, but it still kind of is similar.
23:24
Well, and it's a lot harder to, you know, for anybody that's purchased a house or refinanced recently, they can tell you that it's a lot more difficult to get those things accomplished than it was then.
23:39
Back then, we used to call them ninja loans, which means no income, no job, no assets.
23:48
That's so awesome.
23:50
Anybody could get financing.
23:54
And when you would look at it, you know, I saw lots of things for thousands of tax returns that I've worked on over the years.
24:01
You would think how in the world can this person with this type of income afford everything that they've done? You know, the mortgage is on three houses.
24:13
How is that possible? Unless they, I mean, you could say, well, they rented them all out.
24:19
But what if you couldn't find a renter? They couldn't make it one month without solid renters in every single one of them without having significant financial troubles.
24:31
And that's just not wise investing.
24:34
It's way too risky.
24:36
Yeah.
24:37
And ultimately, I think the Bible does speak to us about the subject of how we should invest and in what way we should seek to earn our wealth.
24:51
I think that there is a misunderstanding among some Christians that to be a Christian, you have to be poor.
25:00
I will say this.
25:01
There's two extremes.
25:03
Some people who teach a prosperity gospel, which I would say is wrong, say that all Christians should be rich.
25:11
You're a daughter, son of the king, and the king has everything.
25:14
Therefore, you should have everything.
25:15
And that's why you got your Joel Osteens and your guys like that driving the Bentleys and Freddie Price and all those guys.
25:26
Interesting.
25:27
Creflo Dollar, Frederick Price.
25:28
Is there any more aptly named false teachers? I don't know if you know those guys, but they're both always about the money and they're named Price and Dollar.
25:38
And so you got that extreme.
25:40
But on the other extreme, I think there are probably just as many who would say, well, as Christians, we're supposed to be poor because Jesus said that it's easier for a camel to go through the eye of a needle than a rich man to enter the kingdom of heaven.
26:00
And therefore, people automatically assume, well, that means it's better if I am poor.
26:05
And I think that the proper balance is found in the proverb, which says, ultimately, Lord provide for me that I will not have to steal, but not to the point that I would not look to you for my needs.
26:21
So I don't want to be so rich that I don't look to God for my needs, but I don't want to be so poor that I would be forced into destitution and desperation.
26:29
Right? And so there's a sense in which it's almost like the prayer of the middle class.
26:34
It's the prayer.
26:37
And I've said before, I don't think it's wrong for a Christian to have wealth, because if that were true, there could be no Christian business owners.
26:44
There could be no Christian landlords.
26:45
There could be no Christian men who do works that employ people.
26:53
You know, these are all, it's necessary to build wealth to be able to own a business.
26:58
It's necessary to build wealth to be able to employ other people.
27:03
So it's not wrong, but how you gain your wealth and how you manage your wealth, I think says a lot about you as a Christian.
27:15
And, you know, there's a proverb, Proverbs 13, 11 says, wealth gained hastily will dwindle, but whoever gathers little by little will increase it.
27:29
And, you know, I'm not here today saying that, you know, somebody got in on the GameStop thing that they were sinning.
27:38
I'm not, I'm not saying that necessarily.
27:40
I would say that there may be some bad attitudes.
27:43
I think you were right to say that some of them were wanting to stick it, stick it to the man.
27:48
But I don't think everybody who participated was necessarily thinking with that negative motivation.
27:54
I think, I think it's, you can't apply a universal motivation to everyone's behavior.
27:59
I know one guy who said, you know, by doing this, he was able to pay off his student loans, you know, that, you know, well, okay, he benefited.
28:06
But like you said, there was a, when one person benefited, there might be another who didn't benefit and somebody who maybe who lost a lot.
28:15
I saw one video of a man who was, who was crying because he said, you know, basically his, his, his investments had gone to nothing as a result of this.
28:26
And so, you know, one guy's paying off student loans.
28:29
Another guy is, you know, retired, but having to get his, having to get another job because his, his, his retirement has been damaged.
28:38
So it's, it's, it's definitely, it's, it's a difficult moral issue in that regard.
28:43
But from a biblical standpoint, I'm going to read a quote to you.
28:48
This was a quote that my friend, his name is Chris Schwink, and he wrote this, and I thought it was very well written.
28:55
I want to get your thoughts on it.
28:56
And this is where we're going to draw to a close, because I think this really helps kind of key in on what we're talking about today.
29:01
And that is, if, if, if we want to be people who manage our, manage our wealth well, then there's a, there's a biblical way to do it.
29:11
And this is what, this is what Chris said.
29:13
He says, it's tempting to get lured into schemes to get rich quickly, whether it's ordering one of those programs that used to run infomercials late at night, trying to win the lottery, getting sucked into the next multi, multi-level marketing system, and now day trading like you're standing at the craps table in Las Vegas.
29:33
But the best way to build wealth is to work hard, live on less than you make, stay and get out of debt, be generous, and save and invest consistently over the course of your adult life.
29:46
It may not always be easy, but it's very simple.
29:50
Would you agree with that? I agree wholeheartedly.
29:54
And the key is the last part about it's, it's very simple, but not easy.
29:59
You know, it makes me think of, it's kind of like working out or losing weight.
30:04
We know that it'll benefit us, but it's hard work.
30:08
It is hard work.
30:09
And sometimes we want to take the easy way out, but, you know, you know, narrow is the road, you know, it's the same kind of thing.
30:18
Yeah.
30:19
Yeah.
30:19
There's a way, there's a right way.
30:22
And as believers, you know, we, like I said, we're not, neither one of us are coming on here and necessarily condemning, you know, as dreadful sinners, the, what happened.
30:32
We're just saying this, this is probably not the smartest way.
30:35
If you're looking to invest in the future, if you're looking to invest for the long-term, if you're looking to create what we might call generational wealth that you can pass on to your children, the Bible says, that's good.
30:46
A man who leaves an inheritance for his children does a good thing.
30:51
And if that's what you're looking to do, then to do so by those simple steps of living on less than you make, working hard and consistently and investing in, in smart investments and doing so over a long period of time.
31:07
Yep.
31:08
Yep.
31:09
Well, my friend, Jarrett, I appreciate you coming on the program and sharing your insights and being able to talk back and forth.
31:16
And I hope that in the next couple of months, when your podcast gets to going, I'll be able to share about it on this program and maybe bring you back on maybe sometime around April 15th, maybe April 16th, and talk about any new changes in the taxes that are going on under the Biden administration.
31:35
That might be something you and I could talk about in a, in a future program, let people know what they need to be doing to prepare for any changes.
31:43
Would that be, would that sound good? Yeah, sounds good.
31:46
I'd be glad to.
31:47
Awesome.
31:48
Well, thank you again for being on the program and thank you listener for being on, for listening to the program today.
31:55
And I want to remind you, if you have a question about the program, you can contact us at calvinistpodcast at gmail.com.
32:03
That's calvinistpodcast at gmail.com.
32:06
Also, whatever platform you're listening on, if it gives you an opportunity to respond, whether by liking it or by subscribing, I would encourage you to do that because it helps out the program and helps us reach a larger base of listeners.
32:19
So again, thank you for listening to Coffee with a Calvinist.
32:22
My name is Keith Foskey and I have been your Calvinist.
32:26
May God bless you.
32:27
Thank you for listening to today's episode of Coffee with a Calvinist.
32:31
If you enjoyed the program, please take a moment to subscribe and provide us feedback.
32:37
We love to receive your comments and questions and may even engage with them in a future episode.
32:45
As you go about your day, remember this, Jesus Christ came to save sinners.
32:51
All who come to Him in repentance and faith will find Him to be a perfect Savior.
32:57
He is the way, the truth and the life, and no one comes to the Father except through Him.
33:03
May God be with you.