If you faint in the day of adversity, your strength is small.
Proverbs 24:10
Continuing to read about the history of the banking crisis in 1933 . . .
Everyday the crisis was allowed to run meant the closing of more banks, the flight of more gold, the loss of more tens of millions and hundreds of millions in savings, in values, in business losses. But Hoover was powerless to do anything effective without the concurrence of the new President because he lacked powers to act alone and he would nave to get the powers from Congress, or at least an assurance that Congress would validate his assumption of powers. Roosevelt had no wish to stem the panic. The onrushing tide of disaster was sweeping the slate clean for him – at the cost of billions to investors and depositors. The greater the catastrophe in which Hoover went out of power the greater would be the acclaim when Roosevelt assumed power.[1]
It is rather sobering to watch the current events unfolding around us and to see the similarities to the crisis our nation faced in the 1930s. As a freedom-loving, anti-socialism preaching policy analyst, I have often pointed to that period as an historic turning point where the claws of socialism crept out of the swamp and got its first grip on our nation. I have never truly understood how a free people could stand by and allow such a thing to happen.
Now, watching current events and with a better understanding of people, policies and politics, I see history better in light of those circumstances and the future better in light of history. And honestly, I don’t think I like what I see.
Our markets are in a crisis brought on by politicians who wanted to give all things to all people; by consumers with a buy now / pay later mentality; and by a market that overlooked fraud and poor management in its willingness to pocket a profit off the foolishness of the first two groups. The result is ( as any cat owner can picture), we have coughed up one big, fat, slimy fur ball.
I could focus on the solutions. Do we bail out, do we not? Who benefits if we bail out? Who loses? Is it a political ploy to shift the election? If so, by whom? What are the consequences if government fails to act? But, truth be told, I am lacking in mercy and inclined to believe that government gets what it subsidizes. I cannot see any path to solve the problem that does not lead more into socialism and loss of freedom for Americans.
BUT, it is safe and easy to say that sitting in my office where all I have to offer is an opinion. I thank God I am not in the position of offering an opinion on the record as to what action an elected official should take. Interestingly enough, the most important thing that we need at this time is a perception of security at the national level. We need to feel secure in our homes, our economy, and our health. But, security is just that – a perception. In reality we are secure only in our relationship with our Lord and Savior. Everything else is up for grabs.
Our leaders understand that in a way we cannot. One of the primary roles of a president (or elected officials) is to remain calm and champion a solution to such situations. Failure to do so will result in the public losing all faith in our nation’s economy and leadership, resulting in a stampede of fickle followers to the safety of the first person who will promise them prosperity. That’s how you get socialism and communism and dictators – when people perceive that anything would be better than what we currently have.
Today, I pray for our leaders - for our President and his advisors; for the leaders of both parties; and for the leaders in the business realm that they will not faint during this time of adversity. I pray that they will come together for the good of the country and craft a solution for our current economic troubles that will serve the nation and the world well. And, I pray for the people of this country, that they will recognize that the government we have is the one we have chosen. That these situations will continue as long as they believe that government “owes” them something they should be responsible for getting on their own. Finally, I pray for justice for those who have manipulated the politics or the economics of this situation at the expense of the security of their neighbors and the nation. May God have mercy on them.
[1] The Roosevelt Myth, Flynn, John T., Revised edition 1956, pgs. 20-21.
Wednesday, September 24, 2008
Tuesday, September 23, 2008
Nothing New
Disclaimer: This is a very short discussion of the economy. It would take a lot more time and paper to fully discuss the issue of bailouts, foreclosures, etc. More than one party is at fault and, yes, I think the heads of some of the mortgage companies and banks should lose everything but their shirts if they entered into shaky loans. They have a fiduciary responsibility to their investors regardless of what the politicians were urging them to do. And, if warranted, criminal sanctions should be considered. On the other hand, people who entered into mortgages which they could not afford do not have my sympathy. The question is, will the solution be worse than the natural consequences for our country?
What has been is what will be, and what has been done is what will be done; and there is nothing new under the sum.
Ecclesiastes1:9
Current events or historical facts?
Still the reforms, the projects, the adventures in social reconstruction followed “treading on each others heels, so fast they came” – bills to supervise the traffic in investment securities, to prevent the foreclosure of farm mortgages, with one to save the owners of city homes from the mortgage incubus, bills to regulate the railroads, bills for federal action in the oil industry.
Meantime committees were in session investigating the crimes of the past – the sins of big business, of the bankers, the railroads, of Wall Street and of the power barons. Washington had become a headline-writer’s paradise.[1]
I love the bumper sticker that says, “If you aren’t worried about what is going on around you, then you haven’t been paying attention.” While I generally discount worry as a non-productive activity, recent trends in the financial markets have gotten my attention. So, I began to research the most historic banking crisis in our history and found the quote above in a book about Franklin D. Roosevelt.
The economy is an interesting thing. Left to itself without too much interference, it can hum along nicely and serve us all well. There are a lot of technical aspects of economics, but let’s keep it simple. The most important thing necessary to make a sound economy is consumer confidence. When citizens are secure in the knowledge that they will have money tomorrow to buy the goods and services they will desire or need, they tend to freely spend or invest their income. When they are convinced that the “sky is falling” they tend to hold more tightly to their money.
So, the question is, “If enough gloom and doom is preached, can we talk ourselves into a crisis?”
The answer is a resounding “yes.”
When I worked in retail sales, there was a story shared at one of our meetings about the owner of a hot dog stand. The gist of the story was the self-fulfilling prophecy of the owner who was told that business was down. In response to the news, he reduced his orders of hot dogs and buns. He turned away customers because he ran out of food. The more customers he turned away, the fewer repeat customers he had. So, he ordered fewer and fewer hot dogs until, one day, he closed his stand altogether.
We are in an election cycle where one party benefits from the failure of the other. In order to convince voters that a change is needed, voters must “feel the pain” of the poor economy. In all honesty, times may be slower than the booms to which we have become accustomed, but if people were more responsible in their use of credit and the politicians would quit requiring and rewarding bad behavior, the markets might actually make a natural correction.
However, if the politicians succeed in convincing the voters that we are in crisis, that is the one sure way to ensure that individuals will stop spending disposable income, make a run on the banks and hoard their cash. Prices will increase, products will become scarce and pessimism will rule. In other words, we will close the hot dog stand.
Keep things in perspective. The poor in our nation have a higher standard of living than the wealthiest in most nations. We do not have universal health care, but no one is turned away at an emergency room for medical care. Eating out, computers, televisions and cell phones are luxuries, not necessities.
Most of us have everything we need and most of what we want. If you have neighbors who are hungry, feed them. If they need a place to stay, take them in. If they are cold, buy them a coat. If you wait for the government to do it, none of us will be able to afford it.
Lord, give our leaders wisdom through this economic crisis to do the right thing, rather than the politically correct thing.
[1] The Roosevelt Myth, Flynn, John T., Revised edition 1956, pg 12-13.
What has been is what will be, and what has been done is what will be done; and there is nothing new under the sum.
Ecclesiastes1:9
Current events or historical facts?
Still the reforms, the projects, the adventures in social reconstruction followed “treading on each others heels, so fast they came” – bills to supervise the traffic in investment securities, to prevent the foreclosure of farm mortgages, with one to save the owners of city homes from the mortgage incubus, bills to regulate the railroads, bills for federal action in the oil industry.
Meantime committees were in session investigating the crimes of the past – the sins of big business, of the bankers, the railroads, of Wall Street and of the power barons. Washington had become a headline-writer’s paradise.[1]
I love the bumper sticker that says, “If you aren’t worried about what is going on around you, then you haven’t been paying attention.” While I generally discount worry as a non-productive activity, recent trends in the financial markets have gotten my attention. So, I began to research the most historic banking crisis in our history and found the quote above in a book about Franklin D. Roosevelt.
The economy is an interesting thing. Left to itself without too much interference, it can hum along nicely and serve us all well. There are a lot of technical aspects of economics, but let’s keep it simple. The most important thing necessary to make a sound economy is consumer confidence. When citizens are secure in the knowledge that they will have money tomorrow to buy the goods and services they will desire or need, they tend to freely spend or invest their income. When they are convinced that the “sky is falling” they tend to hold more tightly to their money.
So, the question is, “If enough gloom and doom is preached, can we talk ourselves into a crisis?”
The answer is a resounding “yes.”
When I worked in retail sales, there was a story shared at one of our meetings about the owner of a hot dog stand. The gist of the story was the self-fulfilling prophecy of the owner who was told that business was down. In response to the news, he reduced his orders of hot dogs and buns. He turned away customers because he ran out of food. The more customers he turned away, the fewer repeat customers he had. So, he ordered fewer and fewer hot dogs until, one day, he closed his stand altogether.
We are in an election cycle where one party benefits from the failure of the other. In order to convince voters that a change is needed, voters must “feel the pain” of the poor economy. In all honesty, times may be slower than the booms to which we have become accustomed, but if people were more responsible in their use of credit and the politicians would quit requiring and rewarding bad behavior, the markets might actually make a natural correction.
However, if the politicians succeed in convincing the voters that we are in crisis, that is the one sure way to ensure that individuals will stop spending disposable income, make a run on the banks and hoard their cash. Prices will increase, products will become scarce and pessimism will rule. In other words, we will close the hot dog stand.
Keep things in perspective. The poor in our nation have a higher standard of living than the wealthiest in most nations. We do not have universal health care, but no one is turned away at an emergency room for medical care. Eating out, computers, televisions and cell phones are luxuries, not necessities.
Most of us have everything we need and most of what we want. If you have neighbors who are hungry, feed them. If they need a place to stay, take them in. If they are cold, buy them a coat. If you wait for the government to do it, none of us will be able to afford it.
Lord, give our leaders wisdom through this economic crisis to do the right thing, rather than the politically correct thing.
[1] The Roosevelt Myth, Flynn, John T., Revised edition 1956, pg 12-13.
Monday, September 22, 2008
How's your driving?
A man’s discretion makes him slow to anger, and it is his glory to overlook a transgression.
Proverbs 19:11
Let’s talk about your driving. Better yet, let’s talk about your reaction to other people’s driving.
I have the distinct pleasure of living in a small town north of Austin which is well known as a retirement community. Sun City, a neighborhood for residents over 55 is just down the road from us, so we have learned to practice defensive driving on a regular basis. It is not uncommon to see an elderly driver ma a right turn out of a left-hand lane or a left turn out of the right-hand lane. Some of the elderly drivers in the area have slower reflexes and drive more cautiously, causing great frustration on the part of some of their younger counterparts.
On the other hand, I work at the Capitol in Austin, just adjacent to the University of Texas, so I get to commute with many young students on the freeway. Unlike the more mature members of my home community, many of these young people drive faster, change lanes more unexpectedly, and take risks I would not consider taking. Rather than being oblivious to their surroundings, they tend to have words and gestures to share with anyone who does not drive like they think they should.
What both groups have in common is that they do not drive like I think they should. There was a time in my life when that would have really irritated me. In all honesty, there was a time when I was more like those younger drivers with rude comments about everybody’s driving around me.
Then, one day, I was challenged to control my anger and frustration. It was suggested that instead of spewing suggestions about what the drivers should be doing, I should try blessing them instead. Finally, I grasped the fact that people were not getting up in the morning with the express intention of finding a way to frustrate me. My blood pressure was shooting through the roof while they continued to sing along with the radio, drink their coffee or talk on their phones oblivious to my increasing wrath. I was allowing them to steal my peace while chances were; they didn’t even know they had upset me.
The first “Bless you, you Idiot for, cutting in front of me” was a little sarcastic and difficult to deliver. However, as I developed the habit of saying, “Bless you” each time I was offended I found that I was actually beginning to feel slightly more charitable and a lot less offended. Like most things, repeated often enough, blessing other drivers has become a habit.
Certainly no one reading this would be considered an annoying driver nor a person who responds poorly to others who are perceived to be annoying. But remember, you are young and inexperienced or have been. Or, you are older with slower reflexes or will be. Either way, you have a choice on how to respond to those around you. Proverbs tells us it is our discretion to be slow to anger and it is our glory to overlook a transgression.
So, quit reading this on your Blackberry while driving so the guy behind you can stop complaining about you!
Lord, help us to be slow to anger, patient in all circumstances.
Proverbs 19:11
Let’s talk about your driving. Better yet, let’s talk about your reaction to other people’s driving.
I have the distinct pleasure of living in a small town north of Austin which is well known as a retirement community. Sun City, a neighborhood for residents over 55 is just down the road from us, so we have learned to practice defensive driving on a regular basis. It is not uncommon to see an elderly driver ma a right turn out of a left-hand lane or a left turn out of the right-hand lane. Some of the elderly drivers in the area have slower reflexes and drive more cautiously, causing great frustration on the part of some of their younger counterparts.
On the other hand, I work at the Capitol in Austin, just adjacent to the University of Texas, so I get to commute with many young students on the freeway. Unlike the more mature members of my home community, many of these young people drive faster, change lanes more unexpectedly, and take risks I would not consider taking. Rather than being oblivious to their surroundings, they tend to have words and gestures to share with anyone who does not drive like they think they should.
What both groups have in common is that they do not drive like I think they should. There was a time in my life when that would have really irritated me. In all honesty, there was a time when I was more like those younger drivers with rude comments about everybody’s driving around me.
Then, one day, I was challenged to control my anger and frustration. It was suggested that instead of spewing suggestions about what the drivers should be doing, I should try blessing them instead. Finally, I grasped the fact that people were not getting up in the morning with the express intention of finding a way to frustrate me. My blood pressure was shooting through the roof while they continued to sing along with the radio, drink their coffee or talk on their phones oblivious to my increasing wrath. I was allowing them to steal my peace while chances were; they didn’t even know they had upset me.
The first “Bless you, you Idiot for, cutting in front of me” was a little sarcastic and difficult to deliver. However, as I developed the habit of saying, “Bless you” each time I was offended I found that I was actually beginning to feel slightly more charitable and a lot less offended. Like most things, repeated often enough, blessing other drivers has become a habit.
Certainly no one reading this would be considered an annoying driver nor a person who responds poorly to others who are perceived to be annoying. But remember, you are young and inexperienced or have been. Or, you are older with slower reflexes or will be. Either way, you have a choice on how to respond to those around you. Proverbs tells us it is our discretion to be slow to anger and it is our glory to overlook a transgression.
So, quit reading this on your Blackberry while driving so the guy behind you can stop complaining about you!
Lord, help us to be slow to anger, patient in all circumstances.
Thursday, September 18, 2008
If you can't say something nice . . .
Death and life are in the power of the tongue, and those who love it will eat its fruits.
Proverbs 18:21
The Lord gifted me with a quick wit and a sharp tongue. I generally have a ready response for most situations. When I get angry, rather than getting flustered or loud, logic sets in with the capability to slice and dice an opponent to shreds. It isn’t pretty. Nor is it godly.
At about the age of 16 I believed I had the response for any situation. At 19, I began to understand that delivering the response did not always mean I won the battle. As a wife, I learned that volume could not be substituted for logic. When I became a parent I realized that sarcasm and wit was wasted on a three-year-old. Not to mention the fact that delivering the perfect line did nothing to improve a toddler’s behavior and it often got thrown back at me later.
After the age of 35 I began to work in public policy and came to understand the power of words when delivered to and twisted by the media. It was at this point that I began to realize that most people who believe the media misquoted them actually said exactly what was printed; it just wasn’t what the speaker meant. I learned to measure my words more carefully to ensure that when reading a quote of something I said, everyone would understand exactly what I meant.
Now, in my fifties (old, advanced in years) I more fully understand the concept that death and life are in the power of the tongue. I also know that, because our words do have so much power, we have a responsibility to curb what it is we say. I cringe when I hear a child belittled for spilling a drink in a restaurant. When I hear a wife disparaging her husband, it is all I can do to not warn her (ok, sometimes I do chime in) of the damage she is doing to her marriage and the self esteem of the husband she loves.
This message has come home to roost so strongly that I find I cannot even find joy in sneering at or ridiculing liberals. Don’t get me wrong, I still find socialists, liberals and ill-advised individuals annoying. And, in all honesty, I don’t mind speaking ill of socialism, liberalism or stupidity, but I now try to confine my rantings to policies, rather than to people.
Next time you are watching the news, discussing politics, driving in traffic or playing with a child, remember that the words you speak have the power of life and death in your life, the life of the person to whom you are speaking, and the life of the person about whom you are speaking.
That’s a lot of power.
Think about it.
And, that would be the reason why your mother always said, “If you can’t say something nice, don’t say anything at all.”
Lord, help us to guard our tongues and to speak life to those around us.
Proverbs 18:21
The Lord gifted me with a quick wit and a sharp tongue. I generally have a ready response for most situations. When I get angry, rather than getting flustered or loud, logic sets in with the capability to slice and dice an opponent to shreds. It isn’t pretty. Nor is it godly.
At about the age of 16 I believed I had the response for any situation. At 19, I began to understand that delivering the response did not always mean I won the battle. As a wife, I learned that volume could not be substituted for logic. When I became a parent I realized that sarcasm and wit was wasted on a three-year-old. Not to mention the fact that delivering the perfect line did nothing to improve a toddler’s behavior and it often got thrown back at me later.
After the age of 35 I began to work in public policy and came to understand the power of words when delivered to and twisted by the media. It was at this point that I began to realize that most people who believe the media misquoted them actually said exactly what was printed; it just wasn’t what the speaker meant. I learned to measure my words more carefully to ensure that when reading a quote of something I said, everyone would understand exactly what I meant.
Now, in my fifties (old, advanced in years) I more fully understand the concept that death and life are in the power of the tongue. I also know that, because our words do have so much power, we have a responsibility to curb what it is we say. I cringe when I hear a child belittled for spilling a drink in a restaurant. When I hear a wife disparaging her husband, it is all I can do to not warn her (ok, sometimes I do chime in) of the damage she is doing to her marriage and the self esteem of the husband she loves.
This message has come home to roost so strongly that I find I cannot even find joy in sneering at or ridiculing liberals. Don’t get me wrong, I still find socialists, liberals and ill-advised individuals annoying. And, in all honesty, I don’t mind speaking ill of socialism, liberalism or stupidity, but I now try to confine my rantings to policies, rather than to people.
Next time you are watching the news, discussing politics, driving in traffic or playing with a child, remember that the words you speak have the power of life and death in your life, the life of the person to whom you are speaking, and the life of the person about whom you are speaking.
That’s a lot of power.
Think about it.
And, that would be the reason why your mother always said, “If you can’t say something nice, don’t say anything at all.”
Lord, help us to guard our tongues and to speak life to those around us.
Wednesday, September 17, 2008
Yellow Dog
Even a fool who keeps silent is considered wise; when he closes his lips, he is deemed intelligent.
Proverbs 17:28
It is a difficult time in the State of Texas. Hurricane Ike, a storm of historic magnitude slammed into the coast last week leaving mayhem and destruction in its path. Galveston Island was heavily damaged, cities were literally wiped off the map, and Houston suffered extreme water and wind damage. To the credit of those in authority, mandatory evacuations prevented the loss of life seen in similar storms in the past. But still, lack of electricity, shortages of gasoline and problems with the water supply are making life difficult for those who have weathered the storm.
In our family, one of the consequences of the storm is that my husband’s parents are staying with us for an undetermined amount of time. Initial estimates were that electricity would not be restored at their home for five weeks. That estimate has since been reduced to a more realistic three to four weeks. Jerry and I have been married for 35 years. I am richly blessed with in-laws who truly consider me to be their daughter. There is no question that I am loved. Likewise, I love and respect my in-laws as if they were my own parents.
So, you ask, “What’s the big deal?”
Well, I am a rather ardent conservative and my father-in-law is a yellow dog democrat. For those who don’t know, a yellow dog democrat is one who would vote for a yellow dog on the ballot before they would vote for a republican. I did not understand the concept myself until shortly after my husband and I were married. It was then that I made the mistake of announcing, in my father-in-law’s house, that I intended to vote for a republican in the upcoming election. I was young, it was the first election in which I could vote, and I did not realize that there were some things that should not be shared in mixed company. Imagine my surprise when I was invited to leave my in-laws’ home for my announcement.
OK, technically, he kicked me out. Back then, I was too hard-headed to apologize for offending my father-in-law. But, I was also too sensitive to take the news without crying. Jerry followed me out of the house, telling his dad, “I don’t sleep with you” when asked where he was going. I cried all the way home as Jerry tried to explain to me that there were some things his dad was just set in his ways about.
Now, 35 years later, our differences continue. We are in the middle of one of the most contentious political races I have ever seen. But, we are not at my father-in-law’s house. We are at MY house. Instead of watching FOX News, I have compromised and turn on MSNBC where we are bombarded with political coverage of the candidates. My father-in-law would still vote for a yellow dog. I’m still going to vote republican.
What’s the difference? I love my in-laws too much to make politics an issue. I know that to discuss politics would be foolish and recognize the proverb to be true. If I will just keep silent I will be considered wise. Sometimes the rule applies in other situations, too.
Lord, give grace and mercy to those who are dealing with the consequences of this hurricane. Conform us to Your image as we work through the day to day issues of those who are displaced from their homes.
Proverbs 17:28
It is a difficult time in the State of Texas. Hurricane Ike, a storm of historic magnitude slammed into the coast last week leaving mayhem and destruction in its path. Galveston Island was heavily damaged, cities were literally wiped off the map, and Houston suffered extreme water and wind damage. To the credit of those in authority, mandatory evacuations prevented the loss of life seen in similar storms in the past. But still, lack of electricity, shortages of gasoline and problems with the water supply are making life difficult for those who have weathered the storm.
In our family, one of the consequences of the storm is that my husband’s parents are staying with us for an undetermined amount of time. Initial estimates were that electricity would not be restored at their home for five weeks. That estimate has since been reduced to a more realistic three to four weeks. Jerry and I have been married for 35 years. I am richly blessed with in-laws who truly consider me to be their daughter. There is no question that I am loved. Likewise, I love and respect my in-laws as if they were my own parents.
So, you ask, “What’s the big deal?”
Well, I am a rather ardent conservative and my father-in-law is a yellow dog democrat. For those who don’t know, a yellow dog democrat is one who would vote for a yellow dog on the ballot before they would vote for a republican. I did not understand the concept myself until shortly after my husband and I were married. It was then that I made the mistake of announcing, in my father-in-law’s house, that I intended to vote for a republican in the upcoming election. I was young, it was the first election in which I could vote, and I did not realize that there were some things that should not be shared in mixed company. Imagine my surprise when I was invited to leave my in-laws’ home for my announcement.
OK, technically, he kicked me out. Back then, I was too hard-headed to apologize for offending my father-in-law. But, I was also too sensitive to take the news without crying. Jerry followed me out of the house, telling his dad, “I don’t sleep with you” when asked where he was going. I cried all the way home as Jerry tried to explain to me that there were some things his dad was just set in his ways about.
Now, 35 years later, our differences continue. We are in the middle of one of the most contentious political races I have ever seen. But, we are not at my father-in-law’s house. We are at MY house. Instead of watching FOX News, I have compromised and turn on MSNBC where we are bombarded with political coverage of the candidates. My father-in-law would still vote for a yellow dog. I’m still going to vote republican.
What’s the difference? I love my in-laws too much to make politics an issue. I know that to discuss politics would be foolish and recognize the proverb to be true. If I will just keep silent I will be considered wise. Sometimes the rule applies in other situations, too.
Lord, give grace and mercy to those who are dealing with the consequences of this hurricane. Conform us to Your image as we work through the day to day issues of those who are displaced from their homes.
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