Category: Economics

Homes for $100

If you have $100, major renovating skills, and the will to take on a long term project then Detroit may be the place for you. Here’s a great story about a few couples who were able to purchase homes in run down areas of Detroit for ridiculously cheap amounts with the desire to not only rebuild their individual homes but to rejuvenate an entire community one house at a time.

The Monday Muse: Auto Bailout

Earlier today I was reading an article on MSN that talked about a possible bailout for American automotive companies. Ford, Chrysler, and GM are all on the brink of disaster and possible bankruptcy. The overall economy has been a killer for these companies. Add in a dose of Honda and other foreign carmakers who are gaining in popularity and the picture doesn’t look too pretty for the big three. So they are calling on Washington to bail them out of this mess. They are open to just about any stipulation that would be tagged onto a bailout deal. They just need a massive loan to keep operations moving forward.

There are so many questions that came to mind while I was reading this article. Let me just pose two for our discussion.

How did Chrysler, Ford, and GM get to the point of near bankruptcy? And is a governmental bailout the right step in solving the problem?

This bailout is being held up by a strong minority of Republicans in Washington who believe that this loan may not solve the real problem and will only put our government in greater debt. What do you think?

The Monday Muse: Economic Bailout

There are so many serious issues being discussed right now in our country. It wasn’t too long ago that we were holding our breath as we waited for another hurricane to strike the coast of Texas and Louisiana. Many people across the country felt the effects of Hurricane Ike. My home, Nashville, suffered a gas shortage that had people lined up for hours screaming at each other just to get a few drops. If I didn’t know better, I would’ve thought that the end of the world was at hand. It was a strange week.

While Ike put a hold on some people’s daily activities, the presidential campaigns continued to press on. In the midst of an election year, time is precious. Each candidate has turned up the heat as November rapidly approaches. Americans are faced with a difficult decision of choosing between two candidates that claim to be agents of change. Yet, the differences between Obama and McCain are obvious. It is an important election for many reasons.

However, the most pertinent issue facing Americans recently has been the economic crisis. Foreclosures have approached record highs. People are losing their homes. Financial institutions are closing their doors or being bought out. The stock market has been in a free fall. People have been looking for answers. And after much deliberation, an answer has been given. The President, House, and Senate have all approved a $700 billion dollar bailout to buy bad assets from financial firms. Many economists have stated that this bailout was necessary, especially for Wall Street. But what about Main Street? How does this bailout benefit the average American?

So here’s my question to you…

Do you support or oppose this economic bailout bill? Why or why not?

I want to know what you think as it relates to both your own situation and the state of our country’s overall economy.

The Monday Muse: Stimulus Check

The news that each of us would be receiving an economic stimulus check in the mail was music to my ears. At first glance it seems like free money. And since we had to pay the government during tax time, this seemed to even things out. Of course we must remember that nothing is free. We are receiving this money only after each of us have paid numerable taxes on the money we worked for. So it is almost like fools gold. In any case, like many people I began to think of how we might use this money. What is the wisest thing to do? Is it different for different people and different circumstances? Is there a best case scenario as it relates to Christians using this money?

John Piper says we should make much of Christ with this check by thinking of how we might help someone in need or fund a person’s ministry. Tim Challies turned to David Kotter, Executive Director of The Council on Biblical Manhood and Womanhood and a former economics teacher, for advice on how to think Christianly about the economic stimulus payments. So…

How should we think concerning the use of the economic stimulus check? Does it even matter?

I’m not asking anyone to share the specifics of their spending in regards to this money (though you are welcome to do so if it helps support your point). I simply want to strike up a little dialogue on whether or not we should be thoughtful in how we use this “extra” money.

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