Archive for December 11th, 2008
S.C. senator points to dangers of bailout
While I disagree with U.S. Sen. Jim DeMint’s, R-S.C., speculation that we’ll “have riots” is the automakers bailout is passed, he has some wise things to say about the eventual economic impact.
“There is no question this will result in inflation,” DeMint said. “The amount of money we’ve borrowed, the amount of money we’ve printed has put us in a more dangerous situation than we’ve ever been in as a country. We may not see the inflation as long as the economy is slow. But, I’ve talked to some economic experts and once the economy starts picking up with so much money in the money supply and so much debt, we’re likely to see very high interest rates and very high inflation rates.”
On the other hand, higher interest rates wouldn’t be a bad thing for people who actually save some money instead of spending it all.
I have little doubt, though, that the automakers bailout will pass, and that the nationalization of the U.S. economy will continue under an Obama administration.
Blago insane or just sinful?
John Kass has a column in the Chicago Tribune this morning ridiculing the notion that Gov. Rod Blagojevich (D-Pekin Federal Correctional Center) is insane. That’s the push in the news media lately as stories begin to dry up and editors try to figure out how to feed the 24-hour news-cycle monster.
Kass’ take is that Blago isn’t insane, he’s just a typical, corrupt Chicago-machine politician.
But something the media hasn’t considered in Blago’s actions is man’s sinful condition. Take a look at Psalm 14:
To the choirmaster. Of David. The fool says in his heart, “There is no God.” They are corrupt, they do abominable deeds, there is none who does good. The LORD looks down from heaven on the children of man, to see if there are any who understand, who seek after God. They have all turned aside; together they have become corrupt; there is none who does good, not even one. Have they no knowledge, all the evildoers who eat up my people as they eat bread and do not call upon the LORD? There they are in great terror, for God is with the generation of the righteous. You would shame the plans of the poor, but the LORD is his refuge. Oh, that salvation for Israel would come out of Zion! When the LORD restores the fortunes of his people, let Jacob rejoice, let Israel be glad.
I’m not saying, “Let’s turn a blind eye to what he’s accused of doing because we’re all sinful, too.” Society couldn’t function in that way. God didn’t intend it to; He commanded justice for injustice. Rather, let’s not be surprised at what the governor has done, not because there’s something mentally wrong with him, but because he simply has been given over to his sin (Romans 1:28). That’s something that can happen to any single one of us.
Blago’s downfall should be a warning of what each of us is capable of.
Michael Miller