Thursday, October 02, 2008

$700 Billion?!!

In light of the proposed $700 billion bailout of Wallstreet this week, I thought I'd share with you a few things the Bible says about debt and interest. Some of which may surprise you.
  1. The Bible isn't against all interest. A fair interest rate is expected to be received on borrowed money. Proverbs 28:8 says, "He who increases his wealth by exorbitant interest amasses it for another who will be kind to the poor." Matthew 25:27 asks, "Why didn’t you deposit my money in the bank? At least I could have gotten some interest on it."
  2. The Bible is against exorbitant interest. Deuteronomy 23:20 says, "You may charge a foreigner interest, but not a brother Israelite." Leviticus 25:35-38 adds, "If one of your fellow Israelites falls into poverty and cannot support himself, do not charge interest on money you lend him or make a profit on food you sell him. I am the Lord your God, who brought you out of the land of Egypt to give you the land of Canaan and to be your God."
  3. And bad debt. Romans 13:8,11 says "Owe nothing to anyone—except for your obligation to love one another. This is all the more urgent, for you know how late it is; time is running out. Wake up, for our salvation is nearer now than when we first believed."
So as long as money is being handled wisely and the debt payments are manageable, a Christian can take on the burden of financial debt if it is necessary. Do you think $700 billion is either wise or manageable?


Anonymous said...

Manage $700 billion dollars? I can't even pronouce it much less manage it!

Anonymous said...

These people who would receive this 700Billion dollars do not deserve it,A FOOL AND HIS MONEY ARE SOON DEPARTED !!!

EthicsProfessor said...

Jesus is more radical than we can ever imagine on DEBT REDUCTION

Luke 6: 27-36

Hey, love your enemies. Do good to those who hate you.....give to every one...And if you lend to those from whom you hope to receive, what credit is that to you? Even sinners lend to sinners to receive as much again. But love your enemies, and do good, and lend, expecting nothing in return...then you will really make will be like God.

Anonymous said...

The Bible talks about the Jubilee Year when all debt is forgiven. I think we should use that model and we would not have all this problem with debt. Anyway this country is going to fall economically and I think we have arrived. Lastly, Hitler came into power when Germany was at its knees, that is how these people gain power. When he was told they still owed money for WW1 and there money had no value he told "print some money and give it to them. History does repeat itself.