“A fool finds pleasure in wicked schemes, but a person of understanding delights in wisdom.” (Proverbs 10:23)
“Wisdom will save you from the ways of wicked men, from men whose words are perverse, who have left the straight paths to walk in dark ways” (Proverbs 2:12)
In his article on “The 2008-2009 Financial Crisis – Causes and Effects,” Ryan Guina writes, “Credit is a great tool when used wisely.” He referred to the fact that our economy is “built on credit.” Our problem arose when that credit, the credit upon which our economy is built, went out of control, lacking the proper accountability.
Guina writes that exotic and risky mortgages became commonplace. Thousands of people were taking out loans they could not afford to pay back. While some got very rich, many encountered disaster. The housing market took a dive resulting in massive defaults on mortgages and huge losses for mortgage backed securities.
The housing crisis resulted in a chain reaction for the U.S. economy. Depressed housing prices put thousands out of business in the building industry. Many of the home buyers whose mortgages went “under water” just walked away, refusing to pay a mortgage that was much greater than the value of their home.
It is now the year 2013 and we are just now beginning to see a very small light at the end of this economic crisis tunnel. Who knows when or if we will ever get back to a strong economy.
“Credit is a great tool when used wisely.” The key word here is “wisely.” I don’t think there is any doubt that we have acted unwisely. Any hope of acting wisely was displaced by greed. Some got rich, many suffered, and we all paid a price for greed and the lack of wisdom.
I wonder what Solomon would have done as he saw this problem approaching? I suspect a modern day Solomon would have wisely steered us clear of this crisis. It simply would not have happened on his watch. Where are the wise leaders like Solomon? Where was the church when we were headed for this disaster? How do we get the divine wisdom we need to steer the great ship America? How is divine wisdom accessed and applied in our great democracy?
(to be continued)