Yesterday was a historic day for Wall-Street - everyone thought "The Wall Street Bailout" was a done deal. But when the Congressional voting closed at 1:43 PM, the Dow went bungee jumping. Within the span of a few minutes, the free-fall frittered almost a trillion dollars of market value into the wind. When the bounce was out its bungee, the Dow had shed over 777 points. Click here for a summary from the Wall Street Journal.
It is possible, even probable, that we are beginning a financial meltdown on a par with the great depression. The pundits are talking about how to save your stocks and investments; the man on the street is wondering whether to stock up on food, gas, and water. Allow me to propose a prudent path that concerns the more practical side of the crisis.
I don't know how bad things will get; does anyone? So measures that depend upon the accuracy of "predictions" into what will happen are iffy, at best. My proposal is simple and relevant to all outcomes - you don't need prophetic insight into the future. This will will help you, no matter what. Interested? I have two words for you: Spend less! I realize that this is a blatant contradiction of what we were told after 9/11. Then, it was our patriotic duty to get out there and spend for the good of the country. I propose we do a quick 180 and learn how to spend less for the greater good. I am convinced that doing so will be good for us, our families, and our country.
Here is an intriguing article from the most recent issue of Readers Digest - check it out. The Hockman family decided to experiment with "no buying for 30 days." A few of their cost saving measures make me uncomfortable - like "borrowing" wireless Internet service from neighbors who don't use encryption. But see if this article doesn't get your wheels turning. We need to replace "thinking like consumers" with "thinking like savers" - this article will help.
Here at Light-Work HQ, we are preparing the lab for some similar experimentation. I am convinced that finding ways to do without, make do on less, and say no to more stuff is the way to go. It makes sense anytime, but especially now. I would love to get your take on this article and the philosophy it espouses. How about running some of your own experiments and sharing with the L-W club members your best ideas about how to spend less?
Such an approach to life is biblically informed - I call it "ant economics."
Observe her ways and be wise,
Which, having no chief,
Officer or ruler,
Prepares her food in the summer
And gathers her provision in the harvest.
How long will you lie down, O sluggard?
When will you arise from your sleep?
“A little sleep, a little slumber,
A little folding of the hands to rest”—
Your poverty will come in like a vagabond
And your need like an armed man (Prov. 6:6-11).
The ant is commended as an example of one who does not use times of prosperity as an opportunity to ramp up consumption. She is a saver who creates a surplus, a reserve, upon which she can draw during the lean times. Note, by the way, that she does not need "government intervention" to compel her to adopt this philosophy. She intrinsically KNOWS this approach is linked to her survival. Do you think the next draft of the bailout proposal (you didn't think we were done, did you?) will have some "ant wisdom" in it? Small chance!
Note that someone who fails to learn ant economics is considered a do nothing, a sluggard. The outcome for the guy is indeed compelling. To say that "need" enters like "an armed man," is to say it becomes impossible to oppose its forced arrival. Catastrophe has become a foregone conclusion. A failure to limit consumption in times of plenty and to create a reserve for lean times results in a condition for which there is NO BAILOUT.
So find ways, NOW, to reduce your standard of living and begin filling your piggy-bank for rainy days. It will help keep you afloat as the water rises. And, you will definitely get an "A" in Ant Econ 101!
I think this is a great time for all of us to find ways to help one another by trading resources and skills. What better way to build community with one another than to come alongside and support rather than leave each man to his own. Building stronger community ties with those around us also serves as a great witness to the love of Christ. Starting with the fact that it is quite contrary to how the world operates. I am challenged by the idea of finding ways to spend less. We are close to not spending except for necessity, but I'm know there are more areas that God will reveal when I take time to be quiet before Him!
Posted by: mjc | September 30, 2008 at 03:18 PM