U.S. Catholic Bishops' letter re. Financial Crisis

This financial mess has been so upsetting. Economically, of course, but also trying to understand it - that is a full-time job. The fear factor and the hype to push something through without scrutiny also makes it worse. And the frustration of a whole system that has become so sick, even evil, where "the privatization of gain and socialization of loss" indebts virtually everyone...

Anyway - I'm trying to understand it; I'm trying to trust in the Lord; and I'm trying to see how kingdom living might be radically different than being a Christian who also is committed to the good, old American dream with its consumerism, selfishness, pleasure-seeking marketing, etc.

Robert told me yesterday about a letter that the U.S. Catholic Bishops had released - a five-point moral compass with regard to this 700 billion dollar bailout (that's $700,000,000,000 - a lot of zeroes, and a lot of food, medicine, clothing, housing...).

U.S. Catholic Bishops Letter to Congress, Bush Administration

The letter concludes with this summarizing paragraph:

Our Catholic tradition calls for a "society of work, enterprise and participation" which "is not directed against the market, but demands that the market be appropriately controlled by the forces of society and by the state to assure that the basic needs of the whole society are satisfied" (Centesimus Annus). These words of John Paul II should be adopted as a standard for all those who carry this responsibility for our nation, the world and the common good of all.

Yes indeed - the common good. We exist, of course for the praise of God's glory. One way we fulfill that is to work for the common good, to seek the welfare of the city in which we live (Genesis 1:28; Jeremiah 29:7), to do all we can to promote peace / shalom for all, that is, wholeness, healing, a context for human flourishing...

Looking up this letter reminded me of the Bishops' Pastoral Letter on the Economy released in the late 1980's. I hope to revisit that.

Those of high degree are but a fleeting breath,
even those of low estate cannot be trusted.
On the scales they are lighter than a breath,
all of them together
Put no trust in extortion;
in robbery take no empty pride;
though wealth increase, set not your heart upon it.
God has spoken once, twice have I heard it,
that power belongs to God.
Steadfast love is yours, O Lord
for you repay everyone according to his deeds.
(Psalm 62:12)