I don't normally plug NPR, but "This American Life" has done 2 phenomenal shows explaining the reasons for the mortgage collapse AND the economic collapse.
I knew there had to be a good reason why most people in the government thought this bailout was a good idea...after listening to these shows, I understand better why. Here's also an interesting sidenote: Paulson is an expert on the Great Depression. He's done extensive studying on it and I gotta say, that makes me feel better.
Now, if it all falls apart, I have to say, it excites me. Here's why: Our generations have gotten more and more greedy and self-centered as time has progressed. If we enter a time where our almighty money has failed us and we have to band together more as communities, I see that as a good thing.
We believers (and people in general) forget so easily that true character and depth are built through adversity. Don't you think that if believers can thrive in their growth in Africa that we can do so here?! This would also shoot the prosperity gospel in the butt...granted, some "Christians" may fall away, but I think this could make the church as a whole stronger.
Has this affected my household yet? I would say no, but it may be coming. Living on church support could make things really tight if people stop giving as much to God. I'd like to think it would have the opposite effect. We're on some government program and I need to reapply for others and I know the wait time will be longer and I can't wait to see if these government programs continue to function. We're at such a low end of the income bracket that I'm not sure how we could have much less.
Thoughts? Comments? Concerns?
Has it affected your home yet?