Hard Times

Check out this video! Be sure to mute my music player:-)


I'm not an economic expert and I really don't know all of the complexities of the economic crisis that is being felt throughout the world. However, I do have a hunch that all of the economic problems our country faces boils down to this...greed. The economic crisis didn't just happen overnight. It has been building up for years. Subprime mortgages are considered to be a major player in this most recent crisis. Banks and lenders offered people loans that they could not afford. Predatory lending practices were common and didn't end with home mortgages. Credit card companies flooded American mailboxes with offers. And we Americans gladly accepted. The crisis was also fueled by mismanagement of company resources by CEOs. Huge bonuses and the upkeep of their expensive lifestyle was their motivation. Even after the first round of the government bailout, many bank CEOs didn't want to change their wasteful management habits. Of those who did, some did so relunctantly only after facing media scrutiny and public outcry. The intention of the bailouts were to help the banks so they in turn would help the American taxpayer who funded their bailout. They were to help homeowner's who faced foreclosure due to loss or reduction in their income, which was due to the economic crisis generated in part by the bad leadership and lending practices of these very same banks! However, it was discovered, that these institutions were not using the money as intended. No surprise there! Word got out that many of the CEOs on Wall Street had received multimillion dollar bonuses in December at a time that the economy was in shambles and businesses were crying for government bailout! President Obama scolded them for their excessive greed, and rightly so! And what about Madoff? He cheated many an investor for YEARS in the biggest, longest running Ponzi scheme in American History. He would probably have continued successfully if it had it not been for the economic crisis.

The video clip above is kind of hilarious but it does hit on a point that many Americans don't realize. I watched a documentary the other night about the lifestyle shared by many of these high powered CEOs. The main point of the documentary was that many of these CEOs operate in a different world than the rest of us. They are so far removed from what is normal that they don't even think twice about their lifestyle. For them to give up their private leer jet that can shoot them across the country in a heartbeat and instead ride 1st class on a commercial liner that will take hours is just unthinkable! It's a waste of their valuable time. They can not relate AT ALL to the life that the rest of us live. It's the same mentality that Marie Antionette had when she said of the starving masses, "Let them eat cake!" Many of these CEOs also feel that they have worked hard, long hours to get to where they are today. Therefore they should reap the benefits of their labor. Though I am in agreement that they do and should be rewarded for their hard work, I personally have a hard time understanding the excessiveness of their greed. In addition, should they be rewarded if their decisions led to their company's current financial troubles? Many CEOs simply do not understand the problems of the rest of the world and yet their mismanagement and bad decisions affect the lives of so many.

"Look here you rich people: Weep and groan with anguish because of all the troubles ahead of you. Your wealth is rotting away, and your fine clothes are moth-eaten rags. Your gold and silver have become worthless. The very wealth you were counting on will eat away your flesh like fire. This treasure you have accumulated will stand as evidence against you on the day of judgment. For listen! Hear the cries of the field workers whom you have cheated of their pay. The wages you held back cry out against you. The cries of those who harvest your fields have reached the ears of the Lord of Heaven's Armies.

You have spent your years on earth in luxury, satisfying your every desires. You have fattened yourselves for the day of slaughter. You have condemened and killed innocent people, who do not resist you." James 5:1-5

James is warning those who are wealthy to take heed. Those who use their wealth and power for their own selfish gain will suffer the consequences of their greedy lifestyle. There are wealthy believers who use the resources God has blessed them with to further His Kingdom's work. There are CEO's out there who have made solid, wise business decisions and who haven't succombed to the greed of their counterparts. However, their companies might be suffering as well from the economic downturn. What James is pointing out is that those who have allowed their greed for power and wealth rule their lives, satisfying their every desire at the cost of others, will be judged accordingly.

As I said earlier, I believe greed is the cause for the financial crisis that we are facing. And though I'd like to lay all of the blame on those CEOs whose mismanagement and greed contributed to this mess, I can not. We must also look to ourselves, the American people. No one twisted our arms to accept these subprime mortgages, credit cards, and made us live beyond our means. Yet at the same time, many Americans accepted such loans in good faith, not realizing the terms spelled out in the fine print. Many of us were naive but should have known better. And now that we know, we must learn from our mistakes and teach our children so they will not fall victim.

Despite how it happened, all of us are facing the consequences of a bad economy. Some have lost our jobs and have no source of income in the near future. Some of us have suffered a lesser fate of a reduction in income. The unemployment rate is at an all time high. Some of our own bad financial decisions have jeapordized our financial stability. Some of us are in financial trouble due to no fault of our own. In these uncertain times there are some actions we can take.

• Pray. Trust God with your future and in your circumstances. "For I know the plans I have for you." Says the Lord, "They are plans for good and not for disaster, to give you a future and a hope. In those days when you pray, I will listen. If you look for me wholeheartedly, you will find me. I will be found by you," says the Lord. "I will end your captivity and restore your fortunes. I will gather you out of the nations where I sent you and will bring you home again to your own land." Jeremiah 29:10-14
• Be thankful to God in your circumstances. Make a list of God's blessings and thank Him for each one. "Be thankful in all circumstances, for this is God's will for you who belong to Christ Jesus." 1 Thessalonians 5:18
• Honor God financially to the best of your abilities and in giving him the best of what you do have (time, talents, service). He doesn't want it all, just a portion. "Honor God with your wealth and with the best of everything you produce." Proverbs 3:9
• Be faithful to God with what you do have - no matter how little. Then watch for how He uses it! Read Luke 16:10-12
• Make a budget plan for your circumstances. Ask for God's wisdom and help to stick by it. Be sure to plan for unknown expenses. Be realistic. CrownFinancial.org and Dave Ramsey't Financial Peace University are excellent resources.
• Do not worry or be anxious. God will provide for your needs. Read Matthew 6: 25-34

Whether you are a CEO or just plain old Joe the Plumber, you can place your trust in a God who is merciful and forgiving. Praying for you to find His grace and peace in your circumstances!

In His Love, Cathy