Monday, September 29, 2008

About Our Country's FInancial Crisis

The following link is to ABC This Week With George Stephanopoulos from this past Sunday (9/28). The round table discussion is on the financial crisis that is looming. If you stick to the end of the conversation, you'll hear George Will give his opinion on one of the root causes of the crisis, which is not merely the greed on Wall Street, or the lack of or overabundance of government influence and/or regulation (depending on which party is speaking at the time!)....but a basic inability or unwillingness of Americans...yep...plain old Americans like you and me, to delay gratification.

This has led to a nation living on debt and saving nothing. I know that is oversimplistic, but I also know that amazingly few Americans have substantial savings, and that amazingly many are drowning in their own personal debt either because of fear, greed, or ignorance or a combination of the three! These same three oh-too-rampant human qualities are what drive much of our economy, whether on Wall Street, or as the politicians keep reminding us...Main Street.

Paul reminded Timothy about the dangers of the love of money when he wrote, "People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." 1 Timothy 6:9-10

Hmmm...some things never change. This was true then, and is true now. So pray for our country, and then do everything you can to pay off your credit cards, live within your means, and save!

Here's the link:

1 comment:

Michael Rohall said...

Thanks Andy. Always insightful.

I am behind with my reading. But as it happens, two recent scripture readings point to mauch the same thing. Haggai and Exekial 34's story of the shepherds. Take all three together, and we get a good lesson in the economic consequences of sin.