Posted by: Mark | November 18, 2008

Auto & Banking Bailout alternative

While I was in Dallas, my new friend David, a pastor from Uganda, brought a fresh perspective to me about our current economic issues.  I am not sure that David knows anything about the bailout issues, but his thoughts were a great indictment against our materialistic, consumerism mindset.

We were driving along the freeway and he looked over and saw hundreds of cars at a large dealership and said, “wow, all those cars just sitting there are in addition to the ones driving??  What if the American carmakers just took a 2 year sabbatical from making cars…  there would still be plenty of cars for America.”

I’m not sure that he really could grasp the idea that we have junk yards filled with scrap metal and parts from perfectly good drivable used cars.  And that we just trade in a leased/financed 2-5 year old car that runs perfectly fine because we want the latest and greatest.

With the average price of almost $30,000, the avg car payment in America running around $450+ per month ($5400/year) for 5.3 years, and the avg American household owning 2.4 cars, we could surely make an impact in ending the starvation, poverty, disease and death of so many who live in dire circumstances around the world.

Although I see the impact that it would make on jobs and the economy if the auto industry continues down the path it is headed (see this article), I really have a hard time stomaching spending money to bail them out.  I hope that as we struggle through the difficult economic times we are going through, more people will recognize the symptoms and root causes of the the problems we are having instead of just trying to come up with a quick fix – its kinda like a debt consolidation loan – if you don’t fix the underlying problem of spending more than you make (or in the banking and auto industry, counting your chickens before they hatch – getting greedy and lending money to people who shouldn’t be buying a car or house they really can’t afford, and who are at risk of not making payments – or continuing to spend money on research, development & production to produce the latest and greatest cars in a time of economic hardship, instead of keeping that existing model a couple years longer…  I ramble on

I know this is very oversimplified, but I think its time that we as Americans wake up and recognize our materialistic, uncontent and often greedy hearts and mindsets, and take responsibility for our actions – from the consumer to the company to the leaders and politicians.

Don’t get me wrong – I love America, but I often am heart-broken by the way we hurt ourselves while ignoring the plight of so many in the rest of the world, and then fail to make wise decisions and own up to our mistakes.

Climbing down off the soap box now.

1 Timothy 6:6-10, 17-19

Now there is great gain in godliness with contentment, 7for we brought nothing into the world, and we cannot take anything out of the world. 8But if we have food and clothing, with these we will be content. 9But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. 10For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.

17As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. 18They are to do good, to be rich in good works, to be generous and ready to share, 19thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life.


Responses

  1. Wow, I think this is just part of what I have been learning recently and you said it so well. We can so easily fall into the temptation mentioned in verse 9, especially in the western world. We should take this reminder each time we consider our choices with purchases not only in cars, but clothes and houses- even groceries. What impact does our spending have? Does it have a positive or negative impact on the rest of the world? Sorry, maybe I should stand on my soap box in my own blog and not your comments! :)


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