As I write today, the U.S. Senate is about to vote on the historic bailout of the mortgage industry. The House voted down a similar proposal on Monday, responding to the outcry from its constituents.
As the media have reported on the formulation of the Senate bill, they suggest that tax payers would approve of the measure if there were some special provisions in the new law for them. In other words, we won’t go for a basketful of candy for someone else; but if you put some candy in there for us, then we are all for it.
Now, I don’t like that thinking, and I resent the implication that we would be so shallow. The reason I oppose the bailout is that it is wrong fiscal policy, and it violates the principles of the free market.
It is wrong fiscal policy to put the tax payers further in debt. We are looking at increasing the national debt by nearly a trillion dollars. Even now, the federal budget must provide for billions of dollars annually simply to service the debt. We are paying interest, but not paying any principal. This measure would increase the debt by about 10 percent and increase our interest payments. No one would advise any person to handle his personal finances this way.
The measure also violates the principles of the free market. The government should get out of the way of the marketplace as much as possible. Some regulations are needed, but they should be minimal. This measure doesn’t just call for more regulations. It calls for the government to buy assets from the private sector and get into the mortgage business. With Fannie Mae and Freddie Mac, the government has already proven that it doesn’t do well in the business.
And now, the Senate has passed the bill. It is 451 pages long, and only 120 pages of the bill have to do with the bailout. All the rest is candy, made to sweeten the deal. I hope it doesn’t make us sick.
Wednesday, October 1, 2008
Thursday, September 25, 2008
Bailout
When everyone calls an economic situation a crisis, then there may actually be a crisis. The proposed bailout, which congressional leaders have just agreed upon, is really a momentous piece of legislation. As you know, they want the U.S. government to spend $700 billion to buy up bundles of questionable mortgage loans. The face value of the loans is actually much more than $700 billion, but those holding the loans can’t find anyone to buy the loans at anything near face value.
Theoretically, the government could MAKE money after a few months when they sell these loans again in the open market. I’m not holding my breath. Even if the government did make money, it would be used for more spending, not for paying debt or tax rebates.
But even if the government could make money with this deal, I don’t believe it is the right thing to do. The government does not need to interfere in the free market. The market naturally has ways to correct itself. But in this case, the government wants to step in, ostensibly, to protect us from the fallout of the bad business practices which led to the problem.
Whenever there is government intrusion, there will be government regulation. Government regulation always has unintended consequences. In fact, government regulations, put in place after the Enron collapse several years ago, are partly to blame for today’s situation. Accounting practices which are now required have made financial statements look bad for firms holding the bundles of sub-prime loans. This has sent them into panic, as they try to sell the loans – to improve their balance sheets – in a market where no one will buy them.
With the current proposal, there will certainly be more regulations and more unintended consequences. The government will be in the business of selling off sub-prime loans. And we will have to print billions of new dollars to pay for the party.
Talk about inflation.
Theoretically, the government could MAKE money after a few months when they sell these loans again in the open market. I’m not holding my breath. Even if the government did make money, it would be used for more spending, not for paying debt or tax rebates.
But even if the government could make money with this deal, I don’t believe it is the right thing to do. The government does not need to interfere in the free market. The market naturally has ways to correct itself. But in this case, the government wants to step in, ostensibly, to protect us from the fallout of the bad business practices which led to the problem.
Whenever there is government intrusion, there will be government regulation. Government regulation always has unintended consequences. In fact, government regulations, put in place after the Enron collapse several years ago, are partly to blame for today’s situation. Accounting practices which are now required have made financial statements look bad for firms holding the bundles of sub-prime loans. This has sent them into panic, as they try to sell the loans – to improve their balance sheets – in a market where no one will buy them.
With the current proposal, there will certainly be more regulations and more unintended consequences. The government will be in the business of selling off sub-prime loans. And we will have to print billions of new dollars to pay for the party.
Talk about inflation.
Wednesday, September 3, 2008
Destiny
I heard a saying a couple of weeks ago which has really stuck with me.
“You were destined to achieve what you were designed to love.”
God has designed us all with various preferences, passions, and abilities. He has designed us all differently, and we love different kinds of things, from activities to foods to employment.
God has placed within our hearts certain desires which, when fulfilled, will build his kingdom and bring us joy. Paul told the Ephesians that “we are his workmanship, created in Christ Jesus to do good works, which God has prepared in advance for us to do.” We are destined, through his work in us, to achieve those very things which will bring joy to our hearts.
Only God can work these things together. We are made to love certain things. We are destined to achieve these things. He has prepared them in advance so that we can do them.
This gives me some assurance that in pursuing kingdom work, I am fulfilling God’s destiny for me. I am learning that he builds great love for the work he has shaped me to do.
Since he has prepared these things in advance, I can trust him to bring them about. Right now, it is hard for me to see the plan he has worked out in advance. I need to listen. I need to watch. I need to pray. He will bring it all about in his timing. I also need to step forward in faith, following his lead. Wherever he leads, he will provide all that we need.
OK, God. Here I go.
“You were destined to achieve what you were designed to love.”
God has designed us all with various preferences, passions, and abilities. He has designed us all differently, and we love different kinds of things, from activities to foods to employment.
God has placed within our hearts certain desires which, when fulfilled, will build his kingdom and bring us joy. Paul told the Ephesians that “we are his workmanship, created in Christ Jesus to do good works, which God has prepared in advance for us to do.” We are destined, through his work in us, to achieve those very things which will bring joy to our hearts.
Only God can work these things together. We are made to love certain things. We are destined to achieve these things. He has prepared them in advance so that we can do them.
This gives me some assurance that in pursuing kingdom work, I am fulfilling God’s destiny for me. I am learning that he builds great love for the work he has shaped me to do.
Since he has prepared these things in advance, I can trust him to bring them about. Right now, it is hard for me to see the plan he has worked out in advance. I need to listen. I need to watch. I need to pray. He will bring it all about in his timing. I also need to step forward in faith, following his lead. Wherever he leads, he will provide all that we need.
OK, God. Here I go.
Saturday, August 16, 2008
The Power of Focus
I have enjoyed watching the Olympics this week. Michael Phelps has been unbelievable. At this point he has earned six gold medals. I have noticed that lots of world records are being set, by Phelps and others. Even a 20-year-old record was broken. One track and field commentator said that the track was a very fast one. I thought that all tracks were about the same, except for altitude. I wonder what makes a track fast…
But the water must be fast, too, with all the world swimming records being set. I think that the records are being set partly because of a new tool athletes have to help them focus. Around the fields and pools I see lots of athletes sporting ear buds. Listening to favorite music has a way of getting someone in the zone.
For the first time today I listened to my mp3 player on my morning fitness walk,. I started with one album, but found that the music was too slow or mellow. I switched to a DC Talk record, and felt the adrenalin kick in. I may have covered my 2.5 miles in record time. I know that my dog found it hard to keep up.
I do believe that athletes can use music to get in the zone and perform at maximum capacity. Focus is essential for scaling new heights. The Spirit is the one who really helps us focus, and maybe good music can help too.
I expect to see lots of “world records” being broken in the spiritual realm. Jesus is on the move. He is transforming people. He is changing the world. I want to be part of that!
But the water must be fast, too, with all the world swimming records being set. I think that the records are being set partly because of a new tool athletes have to help them focus. Around the fields and pools I see lots of athletes sporting ear buds. Listening to favorite music has a way of getting someone in the zone.
For the first time today I listened to my mp3 player on my morning fitness walk,. I started with one album, but found that the music was too slow or mellow. I switched to a DC Talk record, and felt the adrenalin kick in. I may have covered my 2.5 miles in record time. I know that my dog found it hard to keep up.
I do believe that athletes can use music to get in the zone and perform at maximum capacity. Focus is essential for scaling new heights. The Spirit is the one who really helps us focus, and maybe good music can help too.
I expect to see lots of “world records” being broken in the spiritual realm. Jesus is on the move. He is transforming people. He is changing the world. I want to be part of that!
Wednesday, August 6, 2008
The Real Battle
In my personal devotions now I am reading through the Psalms, one of my favorite books of the Bible. It seems like there is a Psalm to match every emotion possible: joy, fear, anger, discouragement, contentment. I have noticed that I can’t really understand a Psalm thoroughly, unless I am in the mood of the psalmist. When I’m experiencing the same thing as the writer, I keep thinking YES, YES! It’s comforting to know that others have felt this same way.
One feeling I have a hard time relating to, however, is David’s desire for harm to his enemies. Maybe I’m not reading deeply enough, but it seems like David is sicking God on his own enemies. David takes it for granted that he is on God’s side.
Of course David was God’s anointed, and he was – during much of his life – on a mission from God. He enjoyed great intimacy with God and remained humble before him. There may have been no one in the world more intimate with God than David. Since he was a “man after God’s own heart,” he would know who God’s enemies were.
And God does punish the wicked. He hates sin. He is perfectly just. He brings destruction and judgment. But then Jesus tells us that God so loved the world that he gave his only begotten son. God does love the world. He loves even those who despise him.
Recently a Crossroads daily verse (sent by email every day), was Ephesians 6:12: “For our struggle is not against flesh and blood, but against the rulers, against the authorities, against the powers of this dark world and against the spiritual forces of evil in the heavenly realms.”
While David is calling for God to destroy his enemies, the real enemy is not the people but the underlying spiritual forces of evil. The battle is a spiritual one. The spiritual battle is often waged on the field of human personalities. Maybe David was really asking for God to defeat the spiritual forces.
That’s where we need to focus our prayers. The real battle is a spiritual one. That’s why prayer matters. When we face unreasonable or wicked people, we need to remember that the battle is against the spiritual forces of evil. We need to ask God to win the battle in us and in our tormentors.
One feeling I have a hard time relating to, however, is David’s desire for harm to his enemies. Maybe I’m not reading deeply enough, but it seems like David is sicking God on his own enemies. David takes it for granted that he is on God’s side.
Of course David was God’s anointed, and he was – during much of his life – on a mission from God. He enjoyed great intimacy with God and remained humble before him. There may have been no one in the world more intimate with God than David. Since he was a “man after God’s own heart,” he would know who God’s enemies were.
And God does punish the wicked. He hates sin. He is perfectly just. He brings destruction and judgment. But then Jesus tells us that God so loved the world that he gave his only begotten son. God does love the world. He loves even those who despise him.
Recently a Crossroads daily verse (sent by email every day), was Ephesians 6:12: “For our struggle is not against flesh and blood, but against the rulers, against the authorities, against the powers of this dark world and against the spiritual forces of evil in the heavenly realms.”
While David is calling for God to destroy his enemies, the real enemy is not the people but the underlying spiritual forces of evil. The battle is a spiritual one. The spiritual battle is often waged on the field of human personalities. Maybe David was really asking for God to defeat the spiritual forces.
That’s where we need to focus our prayers. The real battle is a spiritual one. That’s why prayer matters. When we face unreasonable or wicked people, we need to remember that the battle is against the spiritual forces of evil. We need to ask God to win the battle in us and in our tormentors.
Saturday, July 26, 2008
Mission Trip Send-Off
Last year I went with the youth group on their mission trip. This year, it’s a little different for me, because I’m not going with them. Lisa and I planned not to go, so that our 14-year-old daughter could have the blessing of not having her parents along for the ride.
It is a different experience, staying home, wondering what they will be doing every day. Tonight the youth will have their lock-in, and they will leave tomorrow morning at 4 a.m., driving to Indianapolis.
I’m praying for God to protect them, to teach them and to challenge them. I’m asking God to draw our youth closer to himself and closer to each other. I’m asking him to build their community. I’m praying for the adults to be stretched and to learn more about the heart of God. Last year was a life-changing experience for everyone, and I’m expecting God to continue his good work.
I’m also praying for the people they will serve. God knows who these people are, and he may use our group to answer many prayers. I’m praying for the other youth groups who will be working along side our kids. Many friendships begin through these mission trips.
It may be hard to stay put while others are away serving. It’s just a different experience for me. Prayer is essential for undergirding God’s work. I expect to spend a lot of time on my knees. And I expect God to make difference for eternity through our youth group’s mission trip.
It is a different experience, staying home, wondering what they will be doing every day. Tonight the youth will have their lock-in, and they will leave tomorrow morning at 4 a.m., driving to Indianapolis.
I’m praying for God to protect them, to teach them and to challenge them. I’m asking God to draw our youth closer to himself and closer to each other. I’m asking him to build their community. I’m praying for the adults to be stretched and to learn more about the heart of God. Last year was a life-changing experience for everyone, and I’m expecting God to continue his good work.
I’m also praying for the people they will serve. God knows who these people are, and he may use our group to answer many prayers. I’m praying for the other youth groups who will be working along side our kids. Many friendships begin through these mission trips.
It may be hard to stay put while others are away serving. It’s just a different experience for me. Prayer is essential for undergirding God’s work. I expect to spend a lot of time on my knees. And I expect God to make difference for eternity through our youth group’s mission trip.
Tuesday, July 15, 2008
Taking it to God
Our challenge of finding a new meeting place has been an interesting ride. Meeting space has always been difficult to find in Stokesdale. There is just nothing available for assembly space. Because Stokesdale does not have a sewage system, occupancy of any structure is limited by the septic system serving the building. Normal retail space doesn’t require nearly the septic capacity that assembly space requires. So we can’t use normal retail buildings.
Those restrictions are part of the reason that Crossroads has always been a nomadic people in Stokesdale. We have been in the Long House for more than five years, longer than we have met in any of the other eight places where we have worshipped.
So, as we look to a new place to meet, we are bringing our hearts before the Lord in a Concert of Prayer this Sunday evening. Finding our future meeting space is a supernatural issue. That is, God will have to provide it.
But God’s agenda is not to give us a building. His agenda is to bring our hearts closer to him. He can reveal himself with or without buildings. He can use the process of finding meeting space to help us see his glory. This is a God-sized project. Because God has called us together as a church, we believe that he wants us to gather to worship. We need him to lead us to the right situation.
Looking beyond our own needs, we want to know what God is doing in Stokesdale, and we desperately want to be a part of that. If we merely throw together another building and say, “Y’all come!” then we are not doing much to advance the kingdom of God. But if we surrender ourselves to God and say, “Here we are. Use us!” then God can do some truly amazing work.
God is not wimpy. He’s not limited. He wants to show his glory. And so we are seeking his face this Sunday evening.
Lord, please show us your glory.
Those restrictions are part of the reason that Crossroads has always been a nomadic people in Stokesdale. We have been in the Long House for more than five years, longer than we have met in any of the other eight places where we have worshipped.
So, as we look to a new place to meet, we are bringing our hearts before the Lord in a Concert of Prayer this Sunday evening. Finding our future meeting space is a supernatural issue. That is, God will have to provide it.
But God’s agenda is not to give us a building. His agenda is to bring our hearts closer to him. He can reveal himself with or without buildings. He can use the process of finding meeting space to help us see his glory. This is a God-sized project. Because God has called us together as a church, we believe that he wants us to gather to worship. We need him to lead us to the right situation.
Looking beyond our own needs, we want to know what God is doing in Stokesdale, and we desperately want to be a part of that. If we merely throw together another building and say, “Y’all come!” then we are not doing much to advance the kingdom of God. But if we surrender ourselves to God and say, “Here we are. Use us!” then God can do some truly amazing work.
God is not wimpy. He’s not limited. He wants to show his glory. And so we are seeking his face this Sunday evening.
Lord, please show us your glory.
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