THE ECONOMIC CRISIS
What do you think? What do you think about the congressional bailout plan? What should the US do? What do you think the average american should do? How is this going to effect Churches and the ability for people to give and support non-profit ministries?
Replies to This Discussion
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Permalink Reply by Kristen on -
No replies? You ask a very difficult question I think is why. Answers to this question will vary depending upon what school of economic thought you subscribe to. But then your asking what do we "think". I can touch on that I hope.
The whole reason for this bail out is to save or at least attempt to solidify economic markets. The US is a major player in world markets. It's our dollar that other countries currency is measured against. When we falter, the world falters. Not in direct proportion I should think. I mean, there are many other factors involved then just our economy compared to the world economy as a whole.
We have learned in the past that debt beyond assets gets one in trouble. Big trouble. If you owe $10,000 in credit card debt and you receive lets say $3000/month in net income. And you might have $500 in savings? You are insolvent. I say this in the short run because when you must satisfy a debt you don't have the months to sell you home, your car, your household belongings. You have about $500 and some paycheck is all. Big business found this out once again, those who thought they were too large to worry about being insolvent.
To advocate saving your money, pay down your debts, get solvent is such a right message. But a nation doing this now? Will it not help send us into a recession? Lack of spending = lack of growth (simple terms). But it does strengthen the individual financially should they be debt ridden, meaning they are not solvent? I think as a nation we have never been solvent. I think we never learn. I think as a nation we do not trust God, we don't even believe in God. As a nation we will not allow God.
I can't say what I think about the bailout plan. It's done, we will see the results tomorrow (figurative). What should the average America do? Pay your debts off and start saving. Be faithful to God for who this economic crisis is nothing. He doesn't care about a simple thing as the value of a dollar. He is bigger then our childish fears. Trust in our God and give to Him what is His. Now the question of supporting non-profit ministries? I think they should be prepared for a down turn in donations. It's time to scale down their expenses and overhead. It should think this is not the season for growth and expansion but rather a season to consolidate and secure their position as an entity.
I of course do not know the minds and hearts of America nor do I know God such that I can say what He will do for us now. I only know some principles which seem sound and right. Apply what you know is right and trust in the Lord
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Permalink Reply by Fred Alberti on -
Well said Kristen.
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