I'm far from a fan of polarizing politics. In fact, as you read through my blog posts, you may note a generally neutral party feel concerning American Politics. I've been raised in a very right leaning community and family. I have several friends and acquaintances who love Jesus and consistently vote democrat. I have passions and political views that span from left to right. As stated before, my hope and belief is not in a kingdom of this world, but in the ultimate Kingdom of God, and that is where my party allegiance rests (I guess I kind of am a fan of polarizing politics in the end).
So, all that to say that my short rant to follow is not about party lines. There were several things I heard from Barack Obama last night that I agreed with and was encouraged by.
BUT, there was one statement that made me stop and say, "Whaa...?" (picture such a confused face that I can't finish the word with the "t" it needs).
It was a simple sentence.
The flow of credit is the lifeblood of our economy.
Really? That's our lifeblood.? Is credit not a more soft word for debt?
Now, I'm not one to say all debt is wrong all the time. To say that, I really shouldn't be a home owner right now, there's no way I could have gone to college, and I couldn't have ever owned any cars.
Yet, it's the lifeblood of our economy? Well, maybe it is, but maybe that's also why our economy is so screwed up!
So, all that to say that my short rant to follow is not about party lines. There were several things I heard from Barack Obama last night that I agreed with and was encouraged by.
BUT, there was one statement that made me stop and say, "Whaa...?" (picture such a confused face that I can't finish the word with the "t" it needs).
It was a simple sentence.
The flow of credit is the lifeblood of our economy.
Really? That's our lifeblood.? Is credit not a more soft word for debt?
Now, I'm not one to say all debt is wrong all the time. To say that, I really shouldn't be a home owner right now, there's no way I could have gone to college, and I couldn't have ever owned any cars.
Yet, it's the lifeblood of our economy? Well, maybe it is, but maybe that's also why our economy is so screwed up!
5 comments:
That phrase hit me hard too. It seems like a shortsighted view to me. Wouldn't we all be better served by a shift in mindset from, "Borrow to buy," to, "Buy what you can pay for"? I'm oversensitive because I believe so heavily in Dave Ramsey's financial teaching, but still the thought of placing our hope for a better economy in the flow of credit seems backwards to me.
Yes, this was a puzzling and yet in some ways accurate description of the U.S. economy.
Some might even say that it is part of our American "mythology." For example, the day after 9/11, President Bush called for Americans to return to the shopping malls and proclaimed that "We are still open for business." And last night Obama talked about the strength our American "spirit" (or "Spirit"?).
I think he is referring more to the business sector who relies on credit to grow, not so much an individual family. This is why we are in the pickle - banks not lending businesses money to produce.
Let me refer to "Tommy Boy" as an example: Big Tom started the new brake pad division, but needed the bank's capital to get it going. The bank says "no" as there are few orders and Big Tom has just died.
Banks are not lending money as "orders" are low, i.e. RV industry. It's as if Obama is telling the banks to give Tommy the money to get this thing going.
Thus, the reason we all should watch Chris Farley movies.
Derry, you may like your Uncle John's take on extreme political views. "Right wing, left wing, they're all wing nuts to me." Recall shop class, wing nuts are attatched to a bolt....
Anyway, we both reacted as you did, wishing we all took a more Biblical approach to borrowing and lending. Uncle John has a plan to get us out of debt completely. We are extremely excited in a right wing nut kind of a way.
Most people take that comment out of context. Credit lines are how businesses, colleges, and schools stay a live. They are fairly secured and very short term loans. Yes, consumer credit is a problem, but commercial credit is a must. He was not talking about the consumer and has several times talked ill about people who mismanage their personal finances.
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