Saturday, July 19, 2008

Debt & Spending Today

Alan Sloan of Fortune was interviewed by Charlie Rose.
He pointed out one of the major factors to the current questionable economy: debt.

Trillions of dollars. Both individually and collectively.

This problem is especially acute in the housing market with lenders greed outpacing their discretion. The same is true for the debtors.

Now the government is suggesting something that has been taught in Christian circles for centuries: save!

Sloan thinks that now the market is making us do what we should have already done: Spend less; save more; spend wisely.

God's providence can be rough. People ought to repent of their reckless spending.

Further, the lack of tithing demonstrates a lack of trust. Simply on a practical level tithing forces a family to live within 90% of their income. Adding the admonitions to save money for a rainy day and for our children and children's children cuts into that number. But if we live for today, we will financially die tomorrow.



Wes White said...

We need to repent of our reckless spending, but the root of this is covetousness. The eye of man is never satisifed. We need to repent of our insatiable appetite for more and our lack of gratitude.

By the way, where's that book that you said you were going to send me?

polymathis said...