It has been a tumultuous couple of weeks for the international economy, and it is very unsettling to watch. All of a sudden, the emperor has no clothes: the global economy, built on inflation of the money supply by credit, has suddenly stopped working, if it ever really has. Iceland has almost gone completely bankrupt, and has nationalised some of its banks. The paragon of the free market, the United States, has nationalised a trillion NZ dollars in debt. It all seems rather unreal.
It is a time where the love and compassion of Jesus is especially needed, and a time where we need to help each other more than ever. Here is some wise pastoral advice from Allelon's Andrew Menzies:
Repent. Tell of your financial misdeeds, take responsibility for them and change.
Get out of debt. Cut up the credit card. Pay off the personal loan. Use cash. Chip away at the mortgage. Do all you can to get away from anything that requires you to be in debt to someone else.
Live within your means. Here’s an idea… only spend what you’ve got! Don’t try to keep up with others who have more or who are going into debt to live beyond their means. Learn to be content and live within your means.
Remember others. Others have been living in worse conditions right through the debt-fuelled binge of the West. Some of them have probably been living quite close to you. Don’t blame them, help them.
Think globally. The way we live does impact others. I’m in Melbourne feeling the effects of a housing bubble that popped in Florida! It is easy for us to think that we can’t help it, but that Role of the West does impact others. Make the next wave of effect positive rather then negative.