October 23, 2008

What happened on Wall Street?

In this video, Ron gives his perspective on the nuts and bolts of what has caused the economic volatility in the American markets over the last month or two.  He talks about how various players (politicians, consumers, banks, and businesses) took actions that led to a market drop and a credit crunch.  Ron also discusses how our economic experiences remain true to a foundational biblical principle from Proverbs.
As always, Ron’s encouragement to you is to go back to God’s word to restore your faith.  Take a moment to consider the following scriptures and mediate on their truth and their application. 

Proverbs 2:10 – 11 (NJKV)
“For the Lord gives wisdom; from His mouth come knowledge and understanding; He stores up sound wisdom for the upright; He is a shield to those who walk uprightly; He guards the paths of justice, and preserves the way of His saints.  Then you will understand righteousness and justice, equity and every good path.  When wisdom enters your heart, and knowledge is pleasant to your soul, discretion will preserve you; understanding will keep you.”

In this video, Ron reminds us that there is a peace that comes from a long-term perspective and there is a confidence that comes from understanding the scriptural root of our current economic crisis.  Take a few moments to consider Solomon’s words in conjunction with James’ promise that God will give wisdom to us when we ask Him (James 1:5).  Solomon reminds us that, as we gain wisdom from the Lord, we are protected, guided, and kept…no matter the circumstances.

Proverbs 30:8-9 (NKJV)
“Remove falsehood and lies far from me; give me neither poverty nor riches – feed me with the food allotted to me; lest I be full and deny You, and say ‘Who is the Lord?’ or lest I be poor and steal, and profane the name of my God.”

Although it is prudent to understand our world, our economy, and our situation, it is even better to understand that our personal wealth is a tool that God uses in our life to call us back to dependence on Him.

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Related Articles & Links:

There are several faith-based perspectives on the mechanics of what happened on Wall Street at www.worldmag.com, although to access full articles, you must be a subscriber ($5).

From President Bush’s perspective, here is a link to his speech from September 25th in which he explained how forces in the economy led us to this point.


What Happened on Wall Street?” by Robin Berghaus and Jessica Ullian


Video Transcript


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