Summary: A look at the great depression and the grim fact we might be revisiting that time again in our nation.
Revisiting History Pastor Jeston Bennett 1.
Bible Baptist Church Shawnee Oklahoma 09/05/08
The trading floor of the New York Stock Exchange just after the crash of 1929. On Black Tuesday, October twenty-ninth, the market collapsed. In a single day, sixteen million shares were traded--a record--and thirty billion dollars vanished into thin air. Westinghouse lost two thirds of its September value. DuPont dropped seventy points. The "Era of Get Rich Quick" was over. Jack Dempsey, America’s first millionaire athlete, lost $3 million. Cynical New York hotel clerks asked incoming guests, "You want a room for sleeping or jumping?"
Reason Why Our Government feels it necessary to bail out the banks
There were laws put in place after the first great depression.
A. Banks could only loan $12 for every 1$ they had on deposit.
a. So the Banks said hey we can make more money if we can loan more money, so they went to the government and had the ratio changed to $40 per $1 dollar on deposit.
1. Didn’t take very many bad loans to go belly up at those odds 40 to 1
B. Certain criteria were placed on a barrower’s eligibility to receive a loan.
C. The government wanted everyone to own a house, so the government played fast and loose with these rules.
c. Owning a home is a responsibility not a right, some people are just not responsible.
2Wherefore should the heathen say, Where is now their God?
3But our God is in the heavens: he hath done whatsoever he hath pleased.
4Their idols are silver and gold, the work of men’s hands.
5They have mouths, but they speak not: eyes have they, but they see not:
6They have ears, but they hear not: noses have they, but they smell not:
7They have hands, but they handle not: feet have they, but they walk not: neither speak they through their throat.
8They that make them are like unto them; so is every one that trusteth in them.
Proverbs 23:5 Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven. ...
Greed cost you more than you know
Here is how by Greed and Eskimo catches a wolf…
The Eskimo coats his knife blade with animal blood and allows it to freeze. He then adds layer upon layer of blood, until the frozen blood com-pletely conceals the blade. The hunter next fixes the knife in the ground with the blade up. A wolf smells the blood and when he discovers the bait he licks it, tasting the fresh-frozen blood. He licks faster, more and more vigorously, lapping the blade until the keen edge is bare. Feverishly now, harder and harder, the wolf licks the blade in the arctic night. In his mad craving for blood he does not notice the razor sharp sting of the naked blade on his tongue, nor does he recognize the moment when his insatiable thirst begins to be satisfied by his own warm blood. His carnivorous appetite just craves more—until the dawn finds him dead in the snow
In this nation by world standards we have become rich, so rich in fact that we have forgotten God! With great prosperity comes great responsibility…….