GLIBNESS

From My Perspective - - -

The way one approaches life is vital. These are serious times in which to live. Therefore, it behooves us all to give greater thought and to be more definitive in how we respond to “these times that try the souls of men.” In economic matters, this truth is just as urgent. The sound economic theory, stated as a parody, or cliché (of sorts) is: “If your outgo exceeds your income, your upkeep will be your downfall.” We are confronted with very serious financial matters. Much of this has occurred because of excessive risks in both loans and credit. The question before our nation and other nations of the world is: “What do we do now?”

It appears as though the response of our nation among the economists, government leaders, and the Central (Federal Reserve) Bank is characterized by glibness. The definition of the term describes the actions that are being taken: “Performed with a natural, offhand ease; Showing little thought, preparation, or concern…” To illustrate this point, we have a report submitted yesterday from the Bloomberg Press stating the following: “The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago. The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis…” All of this is occurring while the reality of business failures is multiplying; mortgage foreclosures are increasing; unemployment is rising – and the government committing over 7 trillion dollars into a situation that the Bloomberg Report characterizes as, ”The worst financial crisis in two generations has erased $23 trillion, or 38 percent, of the value of the world’s companies and brought down three of the biggest Wall Street firms.” The question is: when will this Glibness end?!

When the Queen of Sheba came to visit King Solomon, several factors began to interplay with each other. There was the pride, lust and naiveté of King Solomon. There was the subtlety, flattery, and craftiness of the Queen of Sheba. The account of this meeting can be read in II Chronicles 9:1 through 12. Note the dynamic of what occurs during this meeting: “When the queen of Sheba saw the wisdom of Solomon, as well as the palace he had built, the food on his table, the seating of his officials, the attending servants in their robes, the cupbearers in their robes and the burnt offerings he made at the temple of the Lord, she was overwhelmed. She said to the king, The report I heard in my own country about your achievements and your wisdom is true. But I did not believe what they said until I came and saw with my own eyes. Indeed, not even half the greatness of your wisdom was told me; you have far exceeded the report I heard…” At the end of the day, we read: “King Solomon gave the Queen of Sheba all she desired and asked for; he gave her more than she had brought to him. Then she left and returned with her retinue to her own country…”

Consider these things with me - - - God has blessed our nation. It is inappropriate and sad when nations come to a point where they forget Who their Source and Resource has been. Can the words “King Solomon gave the Queen of Sheba all she desired and asked for” be a commentary regarding the Government “Bailout” of Banks and Businesses and Industries in our nation. Large companies that have made very large profits come and ask for $25 Billion to $50 Billion. Will we allow our Glibness to contribute to the downfall and/or demise of our nation? Will our excesses and lack of responsible financial acumen (shrewdness shown by keen insight) blind us to the inevitable bankruptcy toward which we are headed at an accelerated rate? If you were headed toward a bridge that had collapsed, would you continue to proceed at full speed - not slowing down or stopping - until you had plunged over the precipice? Disaster is preventable! Will we return to our Source and Resource while there is time? I hope you will and that you will be thankful you did!