GREAT NEWS ABOUT AMERICA'S ECONOMY 09/30/2008


By Moody Adams
If you listen to what politicians are saying you could be terrified. But stop and consider these facts reported by Walter Williams, a professor of economics at George Mason University:

1. Dr. W. Michael Cox and Richard Alm, of the Federal Reserve Bank of Dallas, in the July/August 2008 edition of The American, have an article titled "How Are We Doing?" (http://www.american.com/archive/2008/july-august-magazine-contents/how-are-we-doing/). While gasoline prices have skyrocketed, the average worker has to work about two hours to earn enough to purchase 10 gallons. In 1935, it was six hours and in 1950, over two hours.

2.”A basket of groceries that took four hours of work in 1950 to purchase now takes 1.7 hours.

3. “Annual hours of work have fallen from 1,903 in 1950 to 1,531 today.

4. “Real total compensation -- wages plus fringe benefits, both adjusted for inflation -- have been rising steadily for several generations. Fringe benefits have become a greater share of our earnings, thus dampening statistics on wage increases.

5. Let me add financial trouble is going to make Christians repent of debt and overspending and be more obedient to their Bibles.

6. It can scare heathen into turning from their god of money to the Lord.

7. It can bring politicians down to earth regarding their spending.

Sure we have a real financial problem in our country. The truth is it is caused by one sin; covetousness. We have more of the world’s good things than any people in history, but it is not enough, from the top to the bottom everyone wants more. Covetousness and greed are additions that got us into the banking crisis. Washington does not like problems it cannot solve. But covetousness is a problem of the heart that only repentance and deliverance by God’s power can solve.

We simply need a war against covetousness in our pulpits.


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