Is This Worse Than the Great Depression?

The idea that the economic troubles we are experiencing are actually greater than those during the Great Depression is a popular meme right now. It is difficult to know how true this might be because of the games the government plays with statistics. If inflation was calculated the same way it was in the 70's it would be over 5 %.  I have seen calculations in the 7% range. Unemployment seems workable at under 8%—bad, but not horrible. But I have seen unemployment estimates that do not play the games of the government at 16%.

So are things as bad as the Great Depression?

Even with the contraction in GDP, (Gross Domestic Product) last quarter, no, not yet.

The main reason is the social safety net that has evolved over the decades. This masks the pain, and to a degree the US is wealthy enough to pay for it. But when the government borrows 40% of every dollar it spends, one has to wonder how long the perpetual unemployment checks and 20% of the population on food stamps can last. No one notices the modern equivalent of soup lines because it is hidden. 

Things will continue as they are until they don't. Yes, I know that is not helpful. But as Yogi Berra said, it is difficult to make predictions, especially about the future.

What will happen if/when no one will buy government bonds?

If  When that happens the US will be in a worse situation than the Great Depression.

What will happen then?

Who knows? It depends on the president at the time. It is also possible that point will never be reached. On this I am guardedly pessimistic. 

But if you ask yourself a question I think you can make a good guesstimate as to what would happen when investors stop buying bonds. The question is, "What will benefit the bankers?" The answer to that question is what I expect to happen. Thus my prediction of more of the same.

However, I feel that the risk that events will get even out of the bankers’ control is a lot higher than they realize.

In the meantime, I am trying as hard as I can to get ready. How is your plan going? 

Are You Ready?

I have been asking a question a lot lately. Are you Ready? Are you ready for the financial crisis? I thought I would ask the same question musically. 

Everybody Poops Part 2

I have been thinking about the theological implications of the Bad Lip Reading song I shared on Sunday, "Everybody Poops." So Jesus was human according to what I see in the Bible. Is he still only human? Has Jesus now become by his resurrection and accession now just a submerged part of God? Is he God at all? 

After his resurrection he appeared to his disciples, but one was not there, and had trouble believing. Here is what was said in John 20:

24-25 But Thomas, sometimes called the Twin, one of the Twelve, was not with them when Jesus came. The other disciples told him, “We saw the Master.”

But he said, “Unless I see the nail holes in his hands, put my finger in the nail holes, and stick my hand in his side, I won’t believe it.”

26 Eight days later, his disciples were again in the room. This time Thomas was with them. Jesus came through the locked doors, stood among them, and said, “Peace to you.”

27 Then he focused his attention on Thomas. “Take your finger and examine my hands. Take your hand and stick it in my side. Don’t be unbelieving. Believe.”

28 Thomas said, “My Master! My God!”

29 Jesus said, “So, you believe because you’ve seen with your own eyes. Even better blessings are in store for those who believe without seeing.

A common explanation by those who do not think that Jesus is divine is that Thomas was cursing here. For me that just does not pass the smell test. 

I remember a letter to the editor by an advocate of Jesus not being God sent to a newspaper of my religious tradition. He wrote that it was only a few times that the Bible called Jesus God, "maybe two or three" he wrote. Yes, I agree it is not done often, although I would place the number much higher. But the Bible does call Jesus God, even a scholar that advocates the “Jesus was only human” concept admits it. I have found it amusing that those that want to make Jesus human will quote this scholar, not realizing that he advocates that the Bible, at least part of it, teaches that Jesus is God.  

First a little grammar to help us think about how Jesus is God. In English and Greek the presence of the definite article "the" gives us clues about the nature of the noun that the article modifies. If I say, "I saw the red and the green car," how many cars are there? There are two. But if I say, "I saw the red and green car," how many cars are there? There is one. This is called the Granville Sharp rule, for those interested in grammar minutia. (I will leave for another time the discussion of the bad taste of the car owner with such a two-toned monstrosity.) 

This distinction can help us understand some aspects of Jesus' divinity. First is Jesus and the Father one entity? 

⁷ To all that be in Rome, beloved of God, called to be saints: Grace to you and peace from God our Father, and the Lord Jesus Christ.  Romans 1:7

 Grace be with you, mercy, and peace, from God the Father, and from the Lord Jesus Christ, the Son of the Father, in truth and love. 2 John 1:3

No, they are separate entities. In the resurrection Jesus did not give up his uniqueness. 

With that in mind also note this:

Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ Titus 2:13

Note that there is no definite article in front of savior. So whoever Paul is referencing is both God and Jesus Christ. 

So Jesus is God. 

What does this mean exactly? 

I have no idea. I see no reason to try to turn God into some sort of trinitarian pretzel trying to fit our preconceived notions about God. It is far better just to say that Jesus is God, yet separate from the Father, and let it remain undefined in its minutia. I think trying to work out all the details is a giant waste of time. I think you would be better off watching sports, it would be more productive. (As you will see this Saturday, I think modern sports are a part of Babylon, so I do not praise sports watching at all.) 

So my conclusion is that Jesus while on the earth was human, just like that other son of God, Adam. After his resurrection he was God, yet separate from the Father. But what was he, or was he, before his conception? That we will talk about next time. 

Kyle Bass Interview

Kyle sees a chance that there will be no growth this year. I think there will be modest growth in the 1% range. But if inflation were calculated correctly, then the growth would be negative.

Theological Implications of Everybody Poops, Part 1

There are some interesting theological implications to the satirical song I posted yesterday. 

Here is what Paul said in Philippians 2:

Kenosis is the usual term for what I am proposing here.5-8 Think of yourselves the way Christ Jesus thought of himself. He had equal status with God but didn’t think so much of himself that he had to cling to the advantages of that status no matter what. Not at all. When the time came, he set aside the privileges of deity and took on the status of a slave, became human! Having become human, he stayed human. It was an incredibly humbling process. He didn’t claim special privileges. Instead, he lived a selfless, obedient life and then died a selfless, obedient death—and the worst kind of death at that—a crucifixion.

9-11 Because of that obedience, God lifted him high and honored him far beyond anyone or anything, ever, so that all created beings in heaven and on earth—even those long ago dead and buried—will bow in worship before this Jesus Christ, and call out in praise that he is the Master of all, to the glorious honor of God the Father.

What Paul seems to be saying is that Jesus before his incarnation had equal status with God, but gave that up to become human. 

This is a common idea among Gnostics. This was difficult for many in the first century to accept. The Gnostics were just horrified by the idea of Jesus having physicality. One of their Gospels had Simon, the one who carried the cross for Jesus in the canonical gospels, as being substituted for Jesus on the cross. Jesus, in these gnostic gospels, is portrayed as laughing nearby in an invisible form. The cross has always been a stumbling block to many. 

Jesus was completely human. This also presents problems for many today. They look upon Jesus as some sort of superhero, able to leap tall buildings with a single bound. Jesus was human, he got angry, he ate meat (this was shocking to many in the first century as well), he appreciated an attractive women, and yes, please forgive me if this offends, but Jesus had bowel movements. 

Everybody Poops.