QE3 and Contentment

Last Thursday the Federal Reserve announced QE3. (The third round of Quantitative Easing.)   QE3 is an attempt by the Federal Reserve to stimulate the economy by increasing the amount of debt it buys to $85 billion dollars each month.  This $85 billion is a result of the Federal Reserve basically printing more money.

Much discussion is taking place about the long term effect of this decision.  I personally feel it will be catastrophic in the fact that the money we have saved will be greatly reduced in value because of inflation caused by creating an additional $85 billion dollars each month out of thin air.  Many others agree with this view.  The fact that the value of the dollar continues to decline and the credit rating of the US Economy is being downgraded could be early indicators of the long term effect of these actions. 

As I watch these decisions continue to be made that are short term focused I am becoming more and more concerned about the future of our economy.  We cannot continue to accumulate debt like we are and supporting the debt with a policy of paying for it by printing money without facing drastic consequences.

So how do we prepare for this “Economic Earthquake” that Larry Burkett saw coming although his timing was off just a bit?  I believe as Christians it is a great opportunity for a refresher course on how to be happy in drastically different circumstances.  And we need to start the refresher course now as opposed to when things start really coming apart. 

The first step to being happy in an economic catastrophe is learning contentment as Paul did Philippians 4:11.  Just like I believe may happen in this generation, Paul saw great extremes in his financial situation.  As a member of the Sanhedrin before his conversion he most likely knew great wealth.  But when he wrote Philippians 4:11 he was in prison with probably no more assets on his balance sheet than the clothes on his back.  And yet he was content.

Contentment is an elusive commodity today.  We are constantly told we need the "new and improved" version.  Otherwise we will feel that we have less than the best and are "behind the times."  Marketing companies spend billions of dollars to try to make us feel dissatisfied with our lives. They want us to believe that we are not significant if we don't have the best and the newest.  This is a central tenant of “Man’s Economy”.

What is the key to being happy in drastically different economic circumstances?  It is serving others and not more stuff.  Remember that we are created in the image of God (Genesis 1:27) and God is love (1 John 4:8) and God demonstrated His love by giving His son to die for us.  (Romans 5:8)  The key to happiness is not the stuff we own, it comes from loving and serving others.  No economic mismanagement by the Federal Government or Federal Reserve can take that away from us.

So may I suggest that instead of stocking up with guns, water and MRE’s in preparation for the “Coming Economic Earthquake” we start with something far more important and helpful, and that is a refresher course in contentment?  In this generation we may experience the great extremes in wealth that Paul did in his life.  And what a joy it would be to say with Paul, …I have learned to be content (and happy) in whatever circumstance I am in.