“You have
built houses of cut stone but you shall not live
in them.” Is this just the ramblings of some
ancient bearded old prophet or a sober warning
to a nation extant in “the last days?” This
sure sounds like a reality becoming more
prevalent throughout the United States of
America.
What was a boom
industry, prominent across America, relentless
in growth, as recent as a year ago, the American
housing market is slumping at a disturbing rate.
Daily, the news reports more foreclosures,
greater home devaluation; home owners on the
edge, one catastrophe away from losing house and
home. The stories are staggering, gut-wrenching.
Retired couples, even first time home owners,
putting their hopes and dreams in the four walls
of security and comfort now have nothing.
This is just the
beginning of economic woes quelling the life of
the wealthiest nation on the face of the earth.
Every market and business is affected by the
disturbances beleaguering America’s economy.
Prominent institutions like Citibank, Merrill
Lynch, Ford Motor Corp, GM, Home Depot, many of
the Fortune 500 companies, the Mom and Pop
businesses of the Midwest, even the colossal
United States government, are revealing a fiscal
reality which is in grave, serious trouble.
Sensible market
investments, the portfolios owned by hard
working, middle-class, patriotic Americans, baby
boomers, hoping to see the joys of retirement,
have dropped more than the gains that were
realized in all of 2007; many profits have been
eradicated. In many instances, recovery to break
even will be years away. Brokers and Market
Funds Managers scratch their heads; uncertain
what to do; reacting to the whims of men and
institutions.
Four months into
2008; each week brings additional news of
further uncertainty and downturn within the US
economy, all of which is adversely affecting
global markets. American Businesses once firmly
established, having survived previous downturns,
recessions and economic bumps in the road are
now collapsing. Bankruptcies, mergers, hostile
takeovers are ever mounting. Aloha Airlines,
with over sixty years of service has filed
bankruptcy, terminating over 3000 employees.
Another, ATA filed bankruptcy, terminating over
2200 employees. The recent merger of Northwest
and Delta Airlines is the only hope in avoiding
outright bankruptcy and the demise of once
strong companies within the airline industry.
Financial giants
like Citigroup and Merrill Lynch, both forced to
borrow billions of dollars from outside,
Middle-East Arab investors, reveal yet more
weaknesses in the US economy. Another giant in
its industry, Bear Sterns was forced to come
under the supervision of the Federal Reserve,
signing a merger agreement with JP Morgan Chase
under which Chase would assume the counterparty
risk and exercise management control. This type
of move was unheard of, illogical, just one or
two years ago.
The economy has
taken a serious change of course that is sending
chills down the spines of leading economists,
government officials and the average wage
earner. With real GDP up a respectable 4.9% in
the 3rd quarter of 2007, real GDP
recorded a meager and disconcerting 0.6% in the
4th quarter, 2007. Other factors like
personal income, personal spending, personal
savings, cost of living, inflationary pressures,
inventory levels, the US International
Investments Position, International Economic
Accounts, and International Trade have all
reflected numbers that have the economists
worried. Just why is all this happening? Long
term and painful recession talk is all that can
be heard among the leading economists.
Rising costs in
health care, health insurance, home and
liability, automobile insurance, normal every
day staples, fuel, food supplies, grains, paper
products, raw materials, metals; the list goes
on. All these necessities are costing the
consumer more; are troublesome for elected
officials down to the single mom barely making
ends meet. When the economy goes south, real
spending is eroded; ancillary economic targets
are affected; such as federal and local tax
revenues, personal savings, entertainment,
travel, vacations, home improvements,
infrastructure maintenance and employment. Many
economists are using the term, the “Perfect
Storm” in describing just what is happening to
the American economy.
Not without
culpability, the United States government is
borrowing from overseas in order to finance its
ever growing social agendas, welfare mentality
and legislated spending; pork barrel projects
and spendthrift ways. The result of excessive
borrowing from foreign nations, such as many
Arab States, Asian nations, Europe, China, is a
growing trade deficit and a weakening dollar.
There is no
debate; the current US economic downturn is
adversely affecting the economies of the world.
Global recession is well within the minds of our
trading partners; Europe, China, Japan, among
other nations. Yet, these nations are guilty of
many of the same economic deficiencies and
corrupt practices as is the US. As required,
market and fiscal corrections will be made, some
naturally, some by force of governments, both at
home and abroad, with results, some favorable,
others distressing. The economy will chug along,
but attitudes and spending behaviors will not
change until forced to.
Instead of
considering the cause and effect of the troubles
we face, asking why is all this happening, is
there something I am doing wrong; the average
American, with his head in the sand, plods
along, hoping his job stays in tack, hoping her
next check will cover the bills, hoping the
government will correct the situation, hoping,
hoping.
Perhaps a look
into the very Word of God will provide logical
insight as to the economic realities we now
face. The economy is now answering to years of
patterned fiscal behavior, most of it poor,
irresponsible, avarice in nature, characterized
as unrighteousness. “To every purpose there
is time and judgment, therefore the misery of
man is great upon him” (Ecclesiastes 8:6).
As of now, God
does not have to intervene in man’s behavior to
bring judgment upon the lifestyles and ways
which man chooses to live. God simply allows the
natural consequences of man’s chosen behaviors
to develop to their logical ends, of their own
accord. God has given fair warning regarding
attitudes and behavior when it comes to
individual fiscal practices and national fiscal
policies. If God’s laws and His principles of
sound fiscal behavior are broken, the natural
results will be tragic for man and for a nation.
Disobedience to God’s perfect laws of fiscal
behavior will produce misery and despair.
America’s
collective sins, its collective disobedience
toward God’s Laws automatically results in lives
filled with misery, emptiness, ruin and despair.
Likewise, America’s collective breaking of God’s
laws regarding sound fiscal policy is now
producing these same tragic results. America’s
economic behavior, as practiced by consumer and
businesses alike, is unacceptable to God
Almighty and His Word reveals where we have gone
wrong.
“As the
partridge that hatches eggs which it has not
laid, so is he who makes a fortune, but
unjustly; in the midst of his days it will
forsake him and in the end he will be a fool”
(Jeremiah 17:11).
Consider
Proverbs 13:11; “Wealth obtained by
vanity shall diminish: but he that gathers by
labor shall increase.” Wealth, unstable and
uncertain, such as found in the stock markets or
chased after by unscrupulous businesses across
our land (seeking quick short term gains) never
lasts long. Consider the vain, empty and self
satisfying business practices which the now
infamous, nation-wide predatory sub-prime
lenders have chased over the past ten years. The
results of their corruption are now clearly
manifest in the collapsing housing and mortgage
industries. The practice of providing loans to
those who are unqualified, under-qualified,
those who are at greatest risk of defaulting on
their loans has repercussions the costs of which
are incalculable.
Many of these
predatory lenders full well knew the risks and
consequences of enticing the less qualified
borrowers. And many of the transactions took
place over the internet, removing the face to
face aspect so necessary in faithful, successful
financial arrangements. And now bailouts are not
even helping the mortgage lenders, let alone
those who borrow. Many of our financial
institutions abuse the poor, purposely. Just
consider the practice of interest rates, usury.
Notice what the Word of God speaks of those that
would abuse the weaknesses and ignorance of the
poor; not only in housing but in business
transactions at large.
“Forasmuch
therefore as your treading is upon the poor and
you take from him burdens of wheat: ye have
built houses of hewn stone, but you shall not
dwell in them; you have planted pleasant
vineyards but you shall not drink the wine of
them. For I know your many transgressions and
your mighty sins: they afflict the just, they
take a bribe and they turn aside the poor in the
gate from their right” (Amos 5:11-12).
When God commands
“you shall not oppress the poor” He says
so for a reason. Notice more of what the Word of
God has to say: “He that oppresses the poor
to increase his riches, and he that gives to the
rich, shall surely come to want … Rob not the
poor, because he is poor: neither oppress the
afflicted in the gate: For the LORD will plead
their cause, and spoil the soul of those that
spoiled them” (Proverbs 22:16, 22-23).
Notice: “The people of the land have used
oppression, and exercised robbery, and have
vexed the poor and needy: yea, they have
oppressed the stranger wrongfully” (Ezekiel
22:29). God will execute judgment against
any person, business or nation and its
government that practices and allows the
unethical and sinful fiscal practices of keeping
the poor, poor while lining the pockets of the
rich.
“There land
is full of silver and gold; neither is there any
end of their treasures; their land is full of
horses, there is no end to their chariots. Their
land also is full of idols; they worship the
works of their own hands, which their own
fingers have made” (Isaiah 2:7-8).
Analyze consumer
behavior within America. Consider Americans’
spending habits. Consider marketing techniques;
consider advertising. Consider the obscene costs
of entertainment and personal pleasure pursuits
which Americans grovel to in their lust to
consume, to pursue; to have. Consider Business
practices in their drive for greater profit,
manipulating the American consumer by exploiting
the human appetite of greed and carnality,
cashing in on the psychology of lust, taking
advantage of consumer ignorance. Advertising
cries out, have more, bigger, better, now! To
what end?
And
how do the vast majority of Americans acquire
their desires? Credit; borrowing against their
future; taking equity out of their homes. And
many mortgage and refinance institutions have
enticed the America home owner to practice
behavior which is illogical and harmful,
lustful.
America’s debt
load is frightful. The US government is running
a budget deficit of over $1.8 billion per day.
The US national debt is over $9 trillion
dollars. The total US consumer debt is 2.46
trillion dollars. The numbers are staggering.
The economic woes we now face are the result of
the life styles, the fiscal practices and
spending behaviors which are unacceptable to
God. But will we as a nation cry out to God with
a desire to repent, asking His forgiveness?
The average
American’s cry is loud and clear, “I can’t
handle it anymore.” Millions are crying to their
elected officials; “get me out of this economic
mess.” And the government to the rescue –
really!
In early January
President Bush proposed a temporary, broad based
tax relief package of about $150 billion. After
Congressional deliberation, an economic stimulus
package was legislated. Additional federal
intervention has since been enacted. Will
governmental intervention; will federal funds
rate adjustments correct the woes beset the
American economy? Will giving the Federal
Reserve greater power over US Banks and
Financial Insurers get us out of the economic
woes we now face?
Our economic
reality reveals America is buried in debt.
Americans have spent beyond their means and we
as a nation are over our heads in debt. Our
fiscal practices, both personally and
governmental, federal, state and municipal have
shaken the confidence of all US markets.
Exacerbating our
economic woes is the absurdity of our State and
Federal governments cowering to environmentalist
and special interest groups who handcuff our
nation’s ability to be self-sufficient. As a
nation we are unable to utilize the land and
natural resources God has blessed this nation
(on this side of the Atlantic) with.
Rather than
looking to the government for help, Americans
need to look to the only source of hope and
redemption. We need to call out to God Almighty
for help. We need to look at the logical laws of
God dealing with fiscal practices. One practical
law of God which is breached constantly by
Americans is thou shalt not covet.
What does covetousness have to do with the
economic malaise we are now in?
To a great degree
America, with its Capitalistic, free
market-driven business practices, its
consumerism and economic philosophy, is driven
by greed and covetousness. Compassion and
benevolence take a back seat in business
practices at large. Bottom line is all that
matters. Additionally, the consumer’s pursuit
for instant satisfaction in the acquiring of
things, for immediate gratification has caught
up to America and our bills are now due.
But Americans can’t pay them; it is clearly
evident. Foreclosures, bankruptcies,
delinquencies are putting an untold drag on the
economy. The results of these realities are
decreased tax revenue, decreased profits and job
loss and an economy sinking deeper into despair.
Covetousness, the
desire for that which is not lawfully ones own,
the desire for that which one can’t afford or be
responsible for, is equated with idolatry (Colossians
3:5). Not only will ones lust for
possessions, for material fulfillment, for
self-gratification result in personal sin, it
can result in spiritual rejection, which could
very well keep a person out of the Kingdom of
God (Ephesians 5:5). Lust and
covetousness will destroy lives and ultimately,
if practiced by an entire nation will result is
economic ruin and national collapse.
The Bible clearly
defines the characteristics of people who will
be alive in the time of the end, just before the
return of Jesus Christ. How similar those
characteristics are to what is prevalent today.
“Lovers of money, covetous, without
self-control, lovers of pleasures more than
lovers of God.”
The pursuit of
pleasures while turning your back on God results
in misery and despair. Notice the consequences
of a nation whose citizens pursued their own
pleasures and material comforts while
disregarding God. “Consider your ways. You
have planted much but you have harvested little.
You eat but you never have enough. You drink but
never have your fill. You put on clothes but are
not warm. You earn wages, only to put them in a
purse with holes in it” (Haggai 1:5-6).
Jesus
Christ warns, “beware of covetousness” (Luke
12:15). He stated a man’s life consisted not
in the abundance of things he possesses. One has
to be careful not to build up treasures on earth
while neglecting to be rich toward God. The
first way to build wealth toward God is to obey
Him and keep His commandments. When one obeys
God’s laws of fiscal success, peace and
stability naturally results. We only see misery
in our land, the result of disobedience toward
God and His Laws
If
the behavior and characteristics of America is
directed toward pleasing and obeying God first,
economic collapse would not occur and global
economies would look up to and respect the
United States. The USA is destroying itself by
practicing a life of disobedience toward God.
The
Bible is filled with admonitions, laws and
practical guidance, all of which when followed
produces good living, successful life, happy
homes, prosperity and freedom from anxiety when
hard times occur. When God’s laws are broken,
the result is suffering, distress, turmoil,
misery and death. When God’s laws of proper
fiscal behavior are broken, the results for the
individual, for business and for the nation will
always and only be economic turmoil, distress
and ruin, such as we in the United States of
America and the world are only now beginning to
see.