Is This Happening Too Fast?

   I don’t claim to be an expert in economics. Wall Street has always been a somewhat fuzzy image for me. I tend to think of it as I would, say…Camelot or Atlantis. You know, places that sound really cool and magnificent, yet are somehow not on the route of my destiny.

   All the same, I tried to pay attention in school during economics and civics class. One thing I learned is that a free-market economy is the best system for growing and managing the wealth of nations. Free enterprise stimulates growth, allows someone with little or nothing to work hard and prosper and it also provides a money machine that is self-correcting.

   I also paid attention in history class. I learned that once government gets involved in something, it seldom, if ever gets uninvolved. Occasionally this is a good thing, but more often than not it leads to unnecessary restrictions, and somehow, less money in the pockets of taxpayers.

   This leads me to my title question, is this happening too fast? You’ve probably figured out that I’m talking about the proposed financial bailout. I’ve heard many pundits say with sad resignation, “Something must be done.” All eyes seem to turn to Washington where opinions are like armpits–everybody has two and under close scrutiny both of them smell funny.

   Honestly, I’m still playing catch-up on this issue, but I get the idea that perhaps Congress is as well. As I peruse this situation, however, there are some thoughts that keep emerging from the fog.

   First, this situation can be traced to one problem: greed. It is nothing but greed that caused some to abuse the opportunities of the free-market system. As my brother recently said in a conversation we were having about this topic, no system will be better than the people who are in it. What we are seeing is not a failure of the system, it is a failure of human character.

   Second, I hate to see the government get involved. While it has been somewhat refreshing to see the bi-partisan effort at helping Americans out of this mess, we are looking at scenario where the government is about to buy a $700,000,000,000 slice of the American economic pie. Anybody who pays that much for something is going to feel obligated to keep it. I can’t help but feel that this is going to bring us much closer to the brink of socialism.

   Is the banking business the only one to be this close to imploding? What about health care? What about energy? What about insurance? The problems of the banking sector will doubtless cause ripples that touch these other industries. If they begin to cave, will the government attempt to nationalize them as well? I can’t help but feel that this bailout may be establishing a dangerous precedent.

   Again, I’m no expert. These are just questions that I have about this situation. Maybe I’m wrong–I certainly hope I am.

   I do know one thing, I’m glad I know the God who owns the cattle on a thousand hills. He owns the hills, also. As a country boy, I can’t help but think that He owns the ‘taters in the hill, too.

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10 responses to “Is This Happening Too Fast?

  1. my 2cents,

    anyway you look at it our goose is COOKED! 😕

  2. I have written extensively on this, but you have summarized it very well: Greed.

    The frightenint thing is, try as I might, I cannot think of a single icidence where, when the government got its hands on something, it has ever let it go.

    I’m GLAD God is in control.

  3. I have some of the same concerns as you. It is a scary thing.. but at the same time, it is scary if “our whole economy collapses.” We shall see. One thing that bugged me was seeing Dodd talk about it like he was Mighty Mouse “saving the day” while knowing that he benefitted from the whole thing.

  4. Janice, you are probably right. I guess it’s a question of whether we want to lose our money to the government or to greedy corporate execs. Unfortunately, other than squawking at our congressmen, it doesn’t appear that we have a say in the matter.

    Joe, amen, amen and amen!

    Rose, I know exactly what you mean. Perhaps this is not being kind, but the thought crossed my mind that it was almost worth 700b to see the look on Nancy Pelosi’s face when she realized the bill was going down.

    One thing I have learned, no matter what goes on in the country, you can count on politicians to be political.

  5. This bail out is another incremental step toward America losing its soul.

    Liberalism with the willing help of the elitist media is chipping away at America’s foundation built on a free market economy and capitalism. These foundations are being laid over and replaced with Socialism.

    If this bill fails again, which I doubt, the liberal democrats have enough votes anyway to force and pass a worse and more devastating form of Socialism on the nation.

    IMO, the Dems are trying to involve the Republicans only to sledge hammer them later over voting for this bail out.

    Either way, America loses: either in a small or giant step closer to Socialism.

    The king’s heart is in the hand of the LORD, as the rivers of water: He turneth it whithersoever He will,” (Prov. 21:1).

    That passage keeps me at peace in this mixed up world.

    LM

  6. Gordon,
    Another great article which I am in agreement with. Like you I am not an economic expert, and I am not even a good mathmetician. I have always despised figuring numbers, yet realize they have importance.
    I cannot figure out how a nation that is really financially bankrupt can bail out bankrupt institutions of finance. That makes no sense to me.
    T.A.

  7. Lou, your assessment could be right. I know that verse has been a comfort to a lot of people lately.

    TA, you said, I cannot figure out how a nation that is really financially bankrupt can bail out bankrupt institutions of finance.

    That statement pretty well sums it up, doesn’t it?

  8. This is very insightful Gordon:

    “once government gets involved in something, it seldom, if ever gets uninvolved.”

    ..causes me to pause and wonder.

    I have been opining in like matter at my place.

  9. Gordon, one of the remarkably frightening things that hits me when I allow myself to dwell on the catastrophophic events in light of this bail-out situation is that the entire country seems to be operating totally on credit. No one has any money. Weird, don’t you think? If we can’t get credit, if we can’t borrow then we have nothing. Perhaps a simpler way of dealing with business may be where we all need to go. Barter for eggs and medical care again. Hmmmn…selahV

  10. KB, I read your thoughts and liked them.

    SelahV, it’s kind of like we are playing Monopoly or something, isn’t it?

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