Bernanke sees recession – I know how to fix it

by Rusty Lindquist on January 25, 2011 · 0 comments

 [NOTE:  I did this post in a hurry, but it’s gotten so much traffic I decided to refine it a bit – you’re welcome to read it, but you may prefer the updated one you’ll find here.]

 How do you fix it?  Repent.

We have all kinds of “economic indicators” today:  Gross Domestic Product (GDP), unemployment, consumer sentiment, S&P 500 stock index, housing starts, etc., the list goes on and on.

But I propose a new indicator, and one far surer to accurately predict the state of our economy.  I call it the National Spirituality Index (NSI for short).

Whether you believe in either the Bible or the Book of Mormon (or most any other holy writ), then you’ve got ample evidence to show that when economies (and societies) start to crumble, wickedness is to blame. 

Wickedness begets tribulations; tribulations increase humility and ultimately an acknowledged reliance on the Lord.  When this happens, people repent and forsake their sins, turn to God, and pray for help.  And when enough people do just that, then things start to change.

So we’ve all got to repent – everybody.  It’s easy for us to always think “I’m not the problem”, but we’ve all got our favorite sins, those weaknesses we cling to and hate to give up on.  Some are obviously more serious than others, but they all equate to an overall depression in the sum-total of our National Spirituality Index.

What’s more, as individuals begin to increase their own spirituality (call it your Personal Spirituality Index – PSI for short), then they have a positive impact on those around them (the spiritual equivalent of gravity, which I discuss here).  Soon you get these islands of expanding righteousness, and pockets of perpetuating virtue.

But it doesn’t start with the whole; it starts with the individual – with you and me.

When we start to hear about record numbers of foreclosures, staggering oil prices, plummeting consumer confidence, severely depressed housing starts, continuously rising unemployment, surging inflation, drastically reduced home sales, large banks like Bear Stearns hitting rock bottom, or any other news of a depressed economy, you’re simply seeing the effects of the ACTUAL leading indicator – our National Spirituality Metric.  And instead of casting blame, and hoping the FED will help, we should be looking at ourselves, and praying to God for help.

Nothing against the Federal Reserve Chairman, Ben Bernanke but I’ll put my trust in the Lord.  I hope you do too.

Rusty

{ 6 comments… read them below or add one }

1 frodo441 April 3, 2008 at 12:46 PM

Get real…that’s like saying our Country went through the Great Depression because of the Harlem Renaissance…goof ball.

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2 Will Entrekin April 3, 2008 at 2:02 PM

I’d save such a message for the day when you can spend faith.

This is one of the major weaknesses of Christianity. “Trust/Faith in the Lord” does not put food on the table. The Lord doesn’t provide; God helps those who help themselves.

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3 Rusty Lindquist April 3, 2008 at 2:34 PM

Frodo: “goof ball”, that rocks (surprisingly fitting as well). If you’re suggesting it’s going to far to say that economics and righteousness are inextricably tied (and one can’t change without affecting the other), than I’m not going to disagree. But assuming we have a common ground of belief in the bible, then we should be able to agree that the two have a repeatedly evident inverse relationship. God often uses economic strife to affect change in His people. But, if we don’t share that belief in scripture, then it’s not worth debating, since that’s the primary premise of this.

Will: Spending faith. That’s an interesting concept. If you believe in faith (which I do), then I’d suggest that it’s not a far cry to say you CAN spend it. Faith is, afterall, your ability to affect change through the power of sheer belief. It’s not always according to our will, or our timeline, but it shouldn’t be underestimate it.

But “God helps those who help themselves”, that’s my whole point but I think I mean it in a slightly different way. I think you’re saying that we’re alone in this, and if we want to succeed, it’s up to us (collectively or individually). I agree with the fact that God expects us to do all that we can do (lazy faith isn’t true faith). But I don’t agree that we’re alone in this. There are times when (after all that you can do), you’re still in the hands of God, and must rely on him to make up the difference.

Thanks for commenting.

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4 Norm Chambers April 12, 2008 at 4:50 PM

I agree and I disagree.

It sounds like you believe:

1) monetary policy, interest rates, tariffs, taxes, incentives, savings rates, and other issues generally tied to economic health have no correlation to the near-term or medium-term or long-term economic conditions.

2) there is a direct & immediate 100% correlation between Righteousness and The Economy of any group, whether it’s the world, a nation, a ward, a family, or a person.

Both those thoughts are funny and wrong. Buckets of Proof (empirical and anecdotal) available upon request.

Now understand that I probably agree with what you’re trying to say, but the way you said it is confusing. As I try to clarify, I’ll be basically stating some of my own beliefs, so let me know if I’m putting words in your mouth, or if I’m missing any vital points.

I think you probably agree that …

1) if everyone were righteous, repentant, and faithful, we would be living the Terrestrial and Celestial Laws of Wealth, so we would obtain more wealth over time as groups and many times as individuals – sometimes through generosity, sometimes through hard work, sometimes through more inspiration, and perhaps even from inheritance, natural resources, or other ways.

2) if everyone were righteous, we would use our wealth more often to bless more and more of our brothers and sisters (usually starting with those we had the most direct stewardships over, such as family).

3) if everyone lived the Celestial Laws (both Celestial Economic Laws and Other Celestial Laws), there would be enough for our needs and wants.

4) if we were more righteous, we’ll Listen and Follow the Spirit instead of acting out of Fear. This means we will have less frivolous “wants”, since we would only seek wealth to bless the lives of others. We would Value different things than we do now. In other words, instead of spending $1,000,000 to save the life of my daughter because I’m afraid that I’ll be a horrible father or miss her terribly, instead I’ll pray about it first, and find out what the Lord wants me to do with that large resource – – and it may very well be “Save Your Child and Learn to Create Strong Family Bonds” or even “She’s Fine and You’ll Be Fine, there are Other People Who Need Your Help with That Money The Lord Has Given You”.

5) if everyone were more righteous (either living a Terrestrial or a Celestial standard), and the economy was stronger / better, we would still find that some people had a higher capacity for serving others, and were skilled in areas that pay well (doctors and good mothers both are highly skilled, but they don’t both pay well). Stewardships come in many flavors, and only a few actually pay money / generate immediate economic value.

6) some people and groups who live Telestial Laws of Economics can actually – for VERY LONG PERIODS OF TIME – “get ahead” of people who live Terrestrial or Celestial Laws of Economics. If this didn’t occur, then all righteousness would be immediately rewarded economically, and there would be less incentive to Prove Our Faithfulness. Selfish (Telestial) people can do better economically by Taking Advantage of others, or simply Getting Lucky (inheritance / natural resources, etc), or – believe it or not – even Providing a Valued Product / Service at a good price – even if motivated by money instead of being motivated by a desire to serve others.

7) righteous large groups of peole are the biggest factor for wealth and fairness in VERY LONG run. That’s because there is more inspiration, more thoughtfulness, more fairness, and more trust, more effort on important things instead of frivolous things. In other words, living Terrestrial Laws or Celestial Laws is better than living Selfish / Telestial Laws. Those better thoughts, words, and deeds will create more wealth, and spread it more fairly or evenly. Living Celestial Laws will goose wealth and distribute it more properly.

8) Since all blessings are predicated by obedience to laws, then if we are following Telestial Laws of economy, that’s all the stronger the economy can EVER get, and it will get there thru well-proven principles (including but not limited to) monetary policy, spending and investment habits, innovations, etc.

9) We’ve all seen righteous individuals be sick, or poor, or be unskilled workers, etc. It’s not a reflection of their character. It’s a reflection of their skills, interests, capacity, opportunity, etc. And it’s a reflection of other, less personal things too, such as good / bad public policy, justice systems, enforcement, etc.

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5 Mormon Paleo April 22, 2008 at 8:10 AM

The so-called “pride cycle” as in The Book of Mormon really highlights the strong connection between righteousness and prosperity. And it indicates that one reason this country has prospered has been the willingness of its citizens to rely on God. So I have to say I find the thoughts expressed in the blog rather interesting.

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6 Rusty Lindquist April 22, 2008 at 10:22 AM

Thanks, I appreciate you stopping by, and I hope to see you again.

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