Discussion:
Wall Street or Main Street
Who’s to blame?
What does our money idolatry look like?
In our weekly Zoom call (email [email protected] if interested in joining), we discuss what is wrong with our current system and economy. Has the church been defensive about “Capitalism” and even tried to defend systemic greed? How have our financial markets systematized greed and how did we get here? Can it be undone? We discuss the sin of Sodom’s greed and specifically Ezekiel 16:49.
Wall Street issues
Hiding behind the opacity of “shareholder’s interests”Wall Street profit “expectations” and the role of research analystsDebt as leverage to maximize profitAdvent of the LBO and the hostile takeover in the 80s (“Greed is Good”)Excess capital used for shareholder buybacksComplexity of the civil justice system requires specialized attorneys to navigateRationalization of job relocation, elimination- explaining away decisions by “we had to do it” to preserve the companyMain Street issues
Manipulation of systems for extraction of money. Example: healthcareBlame game: Wall Street is the scapegoat, yet all feed at it’s troughOur consumer culture’s insatiable appetite for products and services70% of our GDP is consumer spendingDebt dependency of the consumer, corporate, municipalities, governmentThe Church and how its feeds on our consumer and money cultureUnholy alliance among politics, taxes and moneyParallels between chattel slavery and modern day economic slaveryTwo income households the new requirementMentioned on the call last week, the “Field of Dreams” word from Rick Joyner in 1995. This is well worth reading:
https://newbreed.co/2012/12/11/field-of-dreams/
It describes well the economic dynamic we are now entering into in the USA. It contrasts the chaos and fog of the situation on the ground, with the position of the Church being an oasis of hope, joy and unity and a “hospital” to those who are hurting.
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