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The Bible and the Financial Crisis in America
Over the last year we have had terrible news in the American financial markets. The financial crisis in the U.S. is so deeply rooted in the international banking system that it is affecting the whole world! Jewish traditional teaching has much to say regarding the proper management of finances. The present crisis is related to the topic of usury or lending money at interest. As Messianic Jews we should teach the proper biblical perspective on lending. The present turmoil requires that we should speak out on this matter.
The Nature of the Crisis
Here is a brief summary of what happened. This is an incredible story of corruption and greed and contrary to the ethical teaching of Torah.
One of the difficult patterns over the last decade has been the increase in housing prices. This is obviously related to supply and demand. If the supply of houses is large and the demand low, then housing prices fall. People who own houses do not want to see this; they want their properties to appreciate. Prospective home buyers would like lower prices so they could afford to make a purchase. The contemporary market has required families to put two salaries together to afford housing prices (unlike 40 years ago when one salary would suffice). The prices continued to climb as more and more money is pumped into the system, chasing the commodity in an upward pricing spiral. People have been willing to pay.
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All Scripture quotations, unless otherwise indicted, are taken from the New King James Version®. Copyright © 1982 by Thomas Nelson Inc. Used by permission. All rights reserved.
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Tikkun International, Inc. is not affiliated with TIKKUN magazine,
the Institute for Labor and Mental Health, or Rabbi Michael Lerner.
Tikkun International, Inc. is not affiliated with TIKKUN magazine, the Institute for Labor and Mental Health, or Rabbi Michael Lerner.