Crazy Economics 101
If you are confused by the current lending and credit crisis, then watch this 10 minute video. It does a great job of describing what has happened. In a nutshell, the banks let people borrow more than they could afford, and when too many people defaulted, the banks got into big trouble.
Psalm 37:21 (NLT) – The wicked borrow and never repay,but the godly are generous givers.
Romans 13:8 (NLT) Owe nothing to anyone—except for your obligation to love one another.
As Christians, we should put ourselves into position to financially help those in need. And we should model and teach financial responsibility. If you are struggling with debt, then please start taking the steps to get out of debt as soon as possible. Check out Joe Sangl’s website where he has some excellent info about what to do next.