I try to reflect on a number of issues—spiritual, theological, political, social and economic. I am an amateur in so many of these areas but that never stops me from thinking and writing. I am one who loves to be stretched and to challenge ideas, my own and yours. One friend who has helped me to think a great deal better about the economy is David Bahnsen. David is a professional financial advisor and a member of our ACT 3 board. He wrote the following piece for several publications and allowed me to reprint it. Even if you protest his language his basic ideas seem so patently obvious as to be quite hard, if not impossible, to refute.
It is indisputable to those with functioning sensory skills that the economy is in the midst of substantial turmoil. Brought on by the bursting of a housing and mortgage bubble, the excess of which defies the imagination even of the dotcom atrocity, large sectors of the economy sit at a crossroads, and the financial system at-large is struggling to nurse its way through a deserved hangover. When and how credit conditions will return to a place of health is unknown. The Fed is pumping the system with easy money, hoping to "reflate" the economy, but job growth is slowing, corporate earnings are decelerating, and consumer spending appears to be preparing to