Tuesday, September 16, 2008

... and the poor get poorer.

Few people would disagree that the economy is a mess. Banks are failing -- and the stock markets continue to tumble. Major corporations and businesses are going bankrupt. And the national currency is losing value. But it’s not just happening in the U.S.

The Reserve Bank of Zimbabwe (RBZ) has introduced a $1,000 note -- $10 trillion in the old value -- as the country battles to end cash shortages in its hyper-inflation. Analysts say, however, that the new note -- which can only buy a loaf of bread -- will not ease pressure on cash shortages because of the ever-increasing prices. Since 2000, Zimbabwe's currency has been depreciating against major currency. It is trading around $350 Zimbabwean dollars -- $35 trillion in the old value -- against the U.S. dollar.

Within the last few days, the Russian government has pumped more money into its increasingly stressed banking sector. Its stock exchanges have also suspended trading ... fearing that the country’s economy would collapse as it did 10 years ago. Stocks are declining in Asian markets -- as they are experiencing their worst performance in nearly a decade.

Quite simply, things are just not looking good.

But in the midst of it all of this turmoil, those who suffer most are the poor. Whenever economic times get tough, the gap between the “haves” and the “have-nots” seems to grow ever wider. The “haves” want to hang on to what they have -- and the “have nots” go without. When economic times are tight, any fundraising professional will tell you that charitable giving falls off ... sometimes so far off that programs which feed the hungry or provide shelter for the homeless have to be downsized or eliminated altogether. Quite simply, those once-generous people hunker down and hold on to what they have. And those who “have not” -- the poor -- don’t even get the scraps that fall from "the master’s table."

Maybe that explains why Jesus was able to say with confidence, “the poor will always be with you.” (John 12: 8)

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