Thomas Friedman, Op-Ed columnist for the New York Times, wrote a great piece on the $700 billion financial bailout, and it's implication on the future of our country. I think you'll find it a thought-provoking read.
First of all, when did you start reading the NY Times??? LOL...
As someone up to my professional armpits in this "crisis" (crisis implies a sudden change for the negative - and this is hardly sudden, and arguably negative) I've been keeping close tabs on the developments. What I find striking is how this situation closely resembles the 1991 book by Larry Burkett, "The Coming Economic Earthquake" that describes what happens when debt finally overtakes the economy. This has strangely played out much the way Mr. Burkett described.
Mr. Burkett goes on to discuss God's wisdom about debt and the associated dangers that we as Americans have largely ignored. Now, due to our own confidence in our knowledge versus the timeless wisdom of God, we find ourselves in a Super-Sized mess. And worse yet, we have taken on the role of victim and blame those evil bastards on Wall Street for the environment of entitlement we (collectively as Americans) created.
What to do? Follow the tough medicine of God's word - "get out of debt." This means all debt. Yes, even a mortgage. Only in the last 50 years or so of civilization has debt become normal and the Old Testament is very clear, debt is not normal and should only be used in extraordinary circumstances.
Tough times are ahead, and I sincerely hope we land softly, but this "crisis" may be the jolt that grabs our attention and re-focuses our priorities.
1 comment:
First of all, when did you start reading the NY Times??? LOL...
As someone up to my professional armpits in this "crisis" (crisis implies a sudden change for the negative - and this is hardly sudden, and arguably negative) I've been keeping close tabs on the developments. What I find striking is how this situation closely resembles the 1991 book by Larry Burkett, "The Coming Economic Earthquake" that describes what happens when debt finally overtakes the economy. This has strangely played out much the way Mr. Burkett described.
Mr. Burkett goes on to discuss God's wisdom about debt and the associated dangers that we as Americans have largely ignored. Now, due to our own confidence in our knowledge versus the timeless wisdom of God, we find ourselves in a Super-Sized mess. And worse yet, we have taken on the role of victim and blame those evil bastards on Wall Street for the environment of entitlement we (collectively as Americans) created.
What to do? Follow the tough medicine of God's word - "get out of debt." This means all debt. Yes, even a mortgage. Only in the last 50 years or so of civilization has debt become normal and the Old Testament is very clear, debt is not normal and should only be used in extraordinary circumstances.
Tough times are ahead, and I sincerely hope we land softly, but this "crisis" may be the jolt that grabs our attention and re-focuses our priorities.
I'm just saying...
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