Friday, November 9, 2007

A Prophet of Doom?

No. That’s not what you would call a learned man like Federal Reserve chairman , Ben Bernanke. So what do you call him? A realist? I think so. Uncle Ben’s comments on the downwardly moving American economy are frightening. Ben Bernanke speaking on behalf of the Federal Reserve on Thursday told Congress that the American economy was going to get worse. What will a powerful country like America do if its dollar, the internationally acclaimed medium of exchange, hit a down-low average against the ever rising euro? What does that mean to the American economy, the strongest economy in the known world?

China, with a mushroom-growth rate of 11.3 percent is topping the charts against all odds. Compare this to America’s 2.45 percent growth and the rising cost in housing and gas prices and you have a picture you don’t want to paint. The big post-office-box question is “are we seeing a green-swing in the pendulum of world economies and super-power muscle-flexing as we have seen in the past?”

Strong economies have come and gone. This whole scenario leaves us still wondering. What really matters in the world today? Power? Money? Wealth? What are we running after and what is the end of things? Now, I am not really saying that money is not important. Money is a very good thing. The author of of Ecclesiastes writes that money is a protection and that it does answer all things. The point I am making here is that the world comes to a crisis when its chief end is to amass wealth and live a happy and uninterrupted life. One of the wisest men in history wrote, “I have seen all the works which have been done under the sun, and behold, all is vanity and striving after wind. Thus I considered all my activities which my hands had done and the labor which I had exerted, and behold all was vanity and striving after wind and there was no profit under the sun. And I set my mind to know wisdom and to know madness and folly; I realized that this also is striving after wind.

This brings up another important quesation. What is the chief end of man? The westminister catechist confronted this question centuries ago by stating that "the chief end of man is to glorify God by enjoying him forever." But how does this enjoying look like?

To be continued…..
Comments are welcome. Click on "comments" below.

4 comments:

Anonymous said...

Whats the alternative to the currency issue?

Even if you could come up with a brillant idea, and I would love for you to post it if you do, how would you 'un-condition' hundreds of millions of people to work for, accept, spend, depend on, seek after something different than the 'greenbacks'? How about that small, 2"x3.5" plastic card that is quietly becoming the defacto world currency - do you turn it over to a non-profit, public agency to manage? do you get rid of credit card/debit cards all together? what about all the systems and modes in which the card industry is in? what about the internet and online payments????

There is so much psychology that goes into our modern day economic and social experience. Just think about the feel of a dollar bill that is known by statistics that it has a shelf life of about 18 months and so many thousand(s) folds. All greenbacks are made at a special paper/pulp factory in some mid-west state in the most elaborate and extensive fashion so as to create a sensational experience unlike any other - that along with the specific size, weight, feel, color code our minds to think it is 'wealth'. The reality is that all dollars represent a debt to the Fed. If all dollars were turned back into the bank, if all the world lost faith in the dollar, than they were would be no 'money' as it is legally defined today in America. Imagine the US without an acutal legal tender. What would happen?

Anonymous said...

Whats the alternative to the currency issue?

Even if you could come up with a brillant idea, and I would love for you to post it if you do, how would you 'un-condition' hundreds of millions of people to work for, accept, spend, depend on, seek after something different than the 'greenbacks'? How about that small, 2"x3.5" plastic card that is quietly becoming the defacto world currency - do you turn it over to a non-profit, public agency to manage? do you get rid of credit card/debit cards all together? what about all the systems and modes in which the card industry is in? what about the internet and online payments????

There is so much psychology that goes into our modern day economic and social experience. Just think about the feel of a dollar bill that is known by statistics that it has a shelf life of about 18 months and so many thousand(s) folds. All greenbacks are made at a special paper/pulp factory in some mid-west state in the most elaborate and extensive fashion so as to create a sensational experience unlike any other - that along with the specific size, weight, feel, color code our minds to think it is 'wealth'. The reality is that all dollars represent a debt to the Fed. If all dollars were turned back into the bank, if all the world lost faith in the dollar, than they were would be no 'money' as it is legally defined today in America. Imagine the US without an acutal legal tender. What would happen?

Anonymous said...

My dear bro. thank God for technology, i've finally got you. How are are you? how is Erica? God has been good to me and I can't finish it even in a week. Sarah(my lost and found rib) is ok and Maxwell(colin junior) is turning one next month. I will keep in touch with the latest topics and I've got some questions for u.

Yours in
Watching and praying
Colin Luswata
Tel.000442087767644
Mob.000447960240839

Anonymous said...

Well said. I think that when Christ said, "Don't worry about tomorrow, for tomorrow has worries of its own," we think he was giving us advice. Maybe it was a command? He wasn't some mzee in a coffee shop....He was God. Right?

Seth

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