Albert Mohler: A Christian View of the Economic Crisis
Wednesday, September 24, 2008
The headlines tell the story as recent days have seen the American economy and its financial system buffeted by seismic failures and the virtual disappearance of major investment banks. The debate raging in Washington these days concerns the form and extent of government intervention that will be required in order to restore stability to the financial markets.
Comparisons to the Great Depression are inevitable, but today's crisis bears little resemblance to the total economic collapse of the late 1920s. Capitalism is not in crisis and the fundamentals of the American economy remain strong. When President Franklin D. Roosevelt took office in 1933, the nation faced a genuine crisis and economic collapse. For the most part, the banks were closed and the nation was out of business. the rest
posted by Pat Dague @ 9:17 AM
1 comments
1 Comments:
I like many other home owners thought it was great when the housing market was booming. Now the bubble has burst who is to blame ? The banks who wanted to maximise profits or the home owners who wanted to borrow more maximising their profits. Did banks care about those that could not get on the housing ladder, did I ? Perhaps if we had thought more for others and less for ourselves this financial mess would never have happened.
I agree - “we should investigate our own hearts”. Mans EGO has brought us here and the only changes that will help are the ones we make within ourselves. A quote from Michael Laitman expands this better than I can and also proposes solutions :-
“At the foundation of human behaviour, driving all economic and social systems, is the ego, which always prefers the narrow personal interests of investors and stockholders, over the common good of the public. The pursuit of wealth, honour and control at the expense of others are the top priority for company owners.”
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