Banking on an upturn...

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I had lunch yesterday with a dear friend who knows a thing or two about economics. He's an accountant by profession and I couldn't resist asking him a few pointed questons about "the economy." I uttered a few soundbites: "Did he think that Adam Smith was correct when he wrote that divorced from its Judeo-Christian roots, capitalism did not have the ability to free itself from succumbing to opportunism and greed?" His conservative (Southern) roots kicked in and I received a history lesson on the founding economic principles of John Adams. "So," I asked, "you're in favor of this bail-out of the banking industry then?" His answer was priceless. "It depends if you're asking me an economic question or a political one!" Nice one! This is why my 401K is in the mess its in! We laughed and said, "It's just as well we believe in the sovereignty of God."

And it is. I have been thinking this morning about Haggai's words to ancient Israel about earning wages only to put it into a bag with holes (Hagg. 1:6). There is nothing new under the sun.

Now what's that song that I've been humming all morning? "Money, money, money! It's a rich man's world!" Ah yes, Abba...

Posted October 1, 2008 @ 9:08 AM by Derek Thomas
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