The cost of not spending

Some years ago I first made an observation about the nature of our economy, an obviously consumer-driven system that thrives on businesses and industries catering to the buying public. Our prosperity is dependent on things that are made to be sold, and on people who buy those things, and on people whose jobs exist because stuff is made and bought. But making what people need is one thing; doing business in goods and services that are, to say the least, non-essential, is another.

This morning's news included a story on the economic conditions in Las Vegas, a mecca of non-essentiality if there ever was one. Of course, there's lots of regular folks there, such as some of my wife's relatives, who say they rarely go to the more well-known part of the city. Yet, they and other citizens are affected by the fact that Las Vegas has seen a large decline in gambling traffic to its many casinos.

That in turn has hit hundreds of casino employees who have been laid off, and the construction workers whose projects have been cancelled, and the transit workers who have less customers to carry, and the grocery stores who have less people buying anything but the essentials, and on and on.

What began as a credit and payment problem in the mortgage industry, leaving many people in foreclosure and many banks in bankruptcy, has become a general economic problem to companies like automakers that have nothing to do with mortgages and risky lending practices. Just the fact that people are spending less on non-essentials is having a rippling effect that might make the depression of the 30's look like a temporary downturn.

And this affects even those whose religious outlook leads them to a relatively contented lifestyle; people who make do with something old rather than replacing it with something new just because it's new. Even people who would never go near a casino will be affected by the closure of gambling businesses, because they employ people who won't have money to buy the products of companies who will go out of business and make more employees unable to buy more companies' products.

The Bible warned us long ago that greed, lust, materialism and love of money have a dangerous price tag, and lead people into "foolish and harmful desires." Prosperity seems, for most people, too much like a good thing to become a bad thing. But that which is currently ruining our nation's economy seems like a by-product of too much prosperity, too fast; enticing too many people with too many promises and too little reality. Too few people with real wisdom and godly contentment.

It was probably just a matter of time that this house of cards would collapse. The only good news in this has nothing to do with bail-out plans or tax cuts, but with the fact that God never goes out of business as the One who can make good come to those who love Him, using "all things", including the most economically bad news our country has seen for a very long time.