Summary: Dealing with our fears and worries about the economy in this series leading up the presidential election.
STATE OF THE UNION
3. Recession Obsession
Well it looks like we’re heading into some really tough economic times. You’ve already heard much about these high profile banks that have failed and a few others have merged just to survive. Perhaps you haven’t heard just how many other business mergers have been proposed in these tough times. For example:
1.) Hale Business Systems, Mary Kay Cosmetics, Fuller Brush, and W. R. Grace Co. are set to merge. The new name will be: Hale, Mary, Fuller, Grace.
2.) PolyGram Records, Warner Bros., and Zest Crackers will join forces and become: Poly, Warner Cracker.
3.) 3M will merge with Goodyear and become: MMM Good.
4.) Zippo Manufacturing, Audi Motors, Doofasco, and Dakota Mining will merge and become: ZipAudiDoDa
5.) FedEx is expected to join its competitor, UPS, and become: FedUP.
6.) Fairchild Electronics and Honeywell Computers will become: Fairwell Honeychild.
7.) Knotts Berry Farm and the National Organization of Women will become: Knott NOW!
8.) Grey Poupon and Docker Pants are expected to become: PouponPants.
Well OK, that’s not happening. But I thot it might be good medicine to laugh a bit because these days, when it comes to the economy, we’re all a little panicked and afraid. And I don’t blame you. One friend of mine last month was trying to enjoy a wonderful vacation in Europe with her grown children when the news came of the stock market tumble. She said to me,
“I just couldn’t enjoy the moment Rick, because I was thinking about what percentage of my nest egg was blowing away like smoke.”
She’s not the only one in that situation. Small business owners in this church are concerned about laying people off. Some of you have been laid off. Milgard, laid everyone off. Bayliner is done in 60 days kicking over 600 unemployed workers into the job market. A person came in this week, losing their dream home because they’re upside down on their mortgage.
WE FORGOT GOD’S PRINCIPLES
So now we have Republicans and Democrats jockeying for political position to look better than the other in the aftermath of this mess. I’m a bit weary of them all, frankly. Tons of fears and angry thots run through our minds in the context of a hot presidential race.
- Who allowed this to happen?
- What will the candidates do to fix it?
- What’s going to happen next?
- And in a pessimistic moment, we might even ask:
o Are we the generation that will be able to say that we were there when America ended?
So now, I want to weigh in on this, not as an economist but as a student of the Bible and a follower of Jesus Christ. You’ve had an anxious few weeks. You’re mad at the pride of our leaders. You’re mad at the short sighted selfishness in all of us that lead to this subprime mortgage mess. So there’s two parts to God’s wisdom to heed in our fear and anger. The first relates to the world of your finances and the second relates to the world of your heart.
A. BIBLICAL PRINCIPLES
I want to read some bible verses to you and I want you to imagine these were hung on the offices of every bank, every mortgage office and every home in the country.
- Prov 22:7: the rich rule over the poor and the borrower is the slave of the lender.
- Prov 17:18: It is poor judgment to co-sign a friend’s note, to become responsible for a neighbor’s debts.
- Prov 30:25 Ants are creatures of little strength, yet they store up their food in the summer
- Ps 37:21: The wicked borrow and never repay, but the godly are generous givers.
- 1 Tim 6:10: For the love of money is a root of all kinds of evil.
Have we lived by these principles? No. Not personally and not nationally. And now the piper must be paid. We cannot escape these principles, friends. God is not mocked, a man reaps what he sows. With God’s laws, you don’t break them. If you disobey them, they break you. And now, they may break our economy. If we keep going down the path we’re on, one Christian financial consulting firm put it like this:
Failure to heed the principles God has plainly established for our own good will destroy the good faith and credit of the United States government. Should that day come, the consequences will be dire. Our entire economy will collapse with sudden speed, bringing mind-numbing consequences to world order. To avoid the pain, we can print more money, bringing on devastating hyperinflation.
That’s the doomsday scenario, friends.
B. GET OUT OF DEBT
So what can you do? One, save.