Economics, again?

I did warn that some of my postings would be on current events. I’ll try to move away from this subject – it’s not one of my favorites. But it is most appropriate.

The Newsweek editorial about economics and the stimulus package contains this quote: "... we are about to engage in a giant historical experiment. And we are the guinea pigs."

Another quote, while acknowledging Keynes' continuing economic authority, states: "… the key conceptual framework through which we understand the economy, despite many dents from various Nobel-winning critics over the years. But it's also true that there's pretty thin evidence that a Keynesian stimulus of this size and this speed will work."

Thus one can be a Nobel-winning economist and if you don't agree with the current Obama stimulus package, you are wrong. Brad DeLong, a Kenesian proponent at Berkeley states that a recession is one of those "... times when money that in normal times greases the circular flow of economic activity instead sits idle... "

I am neither an economist, nor a pundit, but what concerns me is that much of the money DeLong expects to grease the economic activity simply did not exist before this recession, nor does it exist now. True, a company's value is often not reflected by the price of its stock but of its capital and inventory. Except for items such as Madoff’s “investments” -- the money simply did not exist then, any more than Enron’s did. Or the finance world's recent failing companies. Much as the Dot Com boom of the late 90's, value simply did not exist. Therefore, it is not sitting idle – it isn’t there. It will not “return.”

With all of this in mind, why do people laugh at Christians who trust Now faith is the substance of things hoped for, the evidence of things not seen. (Hebrews 11:1)

What more can be hoped for than this "giant historical experiment"? How more divided can economists be “than this stimulus will/will not work”?

I’ll continue to accept God’s word, which provided truth over the ages. I’ll heed the one who spoke I am the LORD thy God, which have brought thee out of the land of Egypt, out of the house of bondage. Thou shalt have no other gods before me. (Exodus 20:2-3)

Too often there’s a rather short verse that describes our belief: Yet in this thing ye did not believe the LORD your God, (Deuteronomy 1:32)

Then we come to know Him and we spread His word and our belief. Isaiah describes the results: Who hath believed our report? and to whom is the arm of the LORD revealed? (Isaiah 53:1)

This is an important part of the disciples, too: That the saying of Esaias the prophet might be fulfilled, which he spake, Lord, who hath believed our report? and to whom hath the arm of the Lord been revealed? (John 12:38)

Paul understood it very well: But they have not all obeyed the gospel. For Esaias saith, Lord, who hath believed our report? So then faith cometh by hearing, and hearing by the word of God. (Romans 10:16-17)

My suggestion would be that we continue as good stewards in our Lord’s work, living within His commandments and allow Him to determine the future, as is His will to do so. Perhaps with the prayer of a father: And straightway the father of the child cried out, and said with tears, Lord, I believe; help thou mine unbelief. (Mark 9:24)