Oak Hill Baptist Church © 2008-2009

What do you think? Is our national binge over? For the last fifteen years or so, our nation has been on a spending spree almost unparalleled in our history. Recent events have brought our habits and expectations to a screeching stop. What do you think? Have we hit bottom? Will we learn any lessons?

 

Do you remember the 1992 election cycle? We had just seen the fall of communism in Eastern Europe. We watched giddy crowds of people climbing all over the Berlin wall, taking a swing at it with sledge hammers and eventually pouring through when heavy duty equipment was brought in. (You may even own a piece of the wall.) We watched U.S. forces defeat Saddam Hussein in Kuwait and freeing that very small country. Then we went into recession. The jobless rate climbed. Remember? The most famous line from the politicians was “It’s the economy, stupid.”

 

Then under the Clinton administration we had almost eight years of prosperity. The internet revolution fueled a rise in the stock market and the living standards of many in our country. Huge amounts of money were invested in Google, Amazon, eBay and other “dot-coms.” Our national debt stopped (almost) increasing, and state coffers were overflowing with all the prosperity tax dollars.  In the spring of 2000 the bubble burst. Companies like Global Crossing, WorldCom, and others went out of business, partially due to illegal accounting practices. Business men went to jail. We again saw the effects on TV, with long term employees left with little more than a box of personal possessions as they left a building and creditors realizing pennies on the dollar.

 

Then in September of 2001 we watched in stunned horror as airplanes crashed into buildings and fields in hateful revenge of America. Flights were canceled for a short time and resumed with many fewer passengers due to fear of more attacks. While our government began to grapple with the long term need for greater homeland security, in the short term we were told to go out and spend money. Buy a couch or a car. Take a trip. It was the patriotic thing to do and would show the world we were not afraid. Amazingly our government paid thousands of dollars to the families of those killed in the attacks.

 

Our nation continued its spending spree. Big cars. Big houses. Lavish vacations. Restaurant meals several times a week. The latest electronic gizmo. TV’s the size of the old VW beetle. Tickets to pro sporting events. Weekend splurges to casinos. A minority resisted most of the urge to charge, listening to a more careful way of life learned in days gone by.  They resisted “most” of the urge because the good times had rolled for so long it seemed like the money millennium had arrived and all boats were indeed rising.

 

But when greed is unleashed it becomes untameable. Who would buy such a large house that their mortgage would actually increase? Who would sell such a financial monstrosity? What board would wink when financial wizards were paid thousands of dollars for the paper profits involved? What government would both applaud and bail-out Midas? It seems as if one very greedy nation decided to dance around the altar to Mammon (Matthew 6:24) for the better part of fifteen years.

 

If my memory of all those history classes in high school and college does not fail me, our last long term binge, the “Roaring Twenties,” led to a slight economic downturn called the “Great Depression.” I am neither an economist nor a prophet, so I will make no predictions about the Dow Jones. Yet it seems appropriate to encourage a contented lifestyle, if we have food and covering (1 Timothy 6:8).