Friday, August 22, 2008
Inaugural Post
This site will be a work in progress, probably through September [2008]. I hope to offer near-daily commentary on financial news. I am an economist with a PhD from NYU, but I have been heavily influenced by the "Austrian" school of economics. I am a consultant--meaning I will take anyone's money--but my main gig right now is being Economist for the Institute for Energy Research.
I will elaborate on my forecasts and recommendations in future posts, but if you want to get up to speed on my current economic outlook you should read my articles "A Falling Dollar, After All" (August 2007) and "The Worst Recession in 25 Years?" (October 2007). If those intrigue you, then you should plunge into my formal T-Note forecast (pdf) for a bank, delivered back in early July 2007 (before the credit crisis really hit).
In the weeks ahead, I'll explain why I am so pessimistic about the U.S. economy for at least the next five years, but I'll also suggest options for you to protect your personal wealth during this storm.
I will elaborate on my forecasts and recommendations in future posts, but if you want to get up to speed on my current economic outlook you should read my articles "A Falling Dollar, After All" (August 2007) and "The Worst Recession in 25 Years?" (October 2007). If those intrigue you, then you should plunge into my formal T-Note forecast (pdf) for a bank, delivered back in early July 2007 (before the credit crisis really hit).
In the weeks ahead, I'll explain why I am so pessimistic about the U.S. economy for at least the next five years, but I'll also suggest options for you to protect your personal wealth during this storm.
Comments:
if you are pro-Jesus, how can you be anti-government?! Didn't he say: what belongs to God, give it to God, and what belongs to Ceasar give it to him?
And didn't saint Paul rejected rebellion against the authority?
Anyhow, I really appreciate your economical thought, and your being Pro-Jesus.
And didn't saint Paul rejected rebellion against the authority?
Anyhow, I really appreciate your economical thought, and your being Pro-Jesus.
Well, as a Christian minister, let me clarify the “Christian vs. government” question directed towards Bob:
Proper analysis of Jesus' statement about "giving to Caesar the things that are Caesar's, and to God, the things that are God's" as to consider the full context. So please refer to the text in Matthew 22:15-22 for the Scripture and compare it with this explanation:
The Pharisees had teamed up with the Herodians (who they normally despised) in an effort to trap Jesus with His words. They asked Him whether the Jewish people should pay "taxes unto Caesar" or not. If He said, "Yes" the Pharisees planned to use that to discredit Him, because the common opinion of the Jews was that the hated Romans were occupiers and those who cooperated with their tax system (such as the ‘Publicans’, Jewish tax collectors) were traitors.
The Herodians, on the other hand, were a group of elitists who actually worked for the Roman authorities. They especially supported the rule of the hated King Herod (appointed over that province by Caesar) and received special privileges and favors for that support (hence their name, and why they were despised by the Pharisees under normal conditions). Their plan was that if Jesus said, "NO!" to report Him to the authorities and have him taken into custody for inciting tax-rebellion.
Jesus, "perceiving their malice" the NASB version of that passage says, said, "Why are you testing Me, you hypocrites? Show Me the coin used for the poll-tax."
NOTE: The Jewish Temple ONLY received Jewish coinage for tithes and offerings because of BOTH the presence of Caesar’s image (which was idolatrous since he was considered ‘divine’) and due to the Roman government’s tendencies to debase their coinage’s metal content below the purity required by Levitical Law (which Austrian economics also ‘forbids’...chuckle). On the other hand, the Roman authorities ONLY received Roman coinage for taxes. Consequently, they brought him a denarius (a silver coin of the Empire). Holding it up, Jesus said, “Render unto Caesar the things that are Caesar’s...” (i.e. that money belonged to Caesar’s government, so give it back to him if he asks for it) “...and unto God, the things that are God’s” (i.e. the tithe and offerings required by Levitical Law as God has prospered them, using the money the Jews minted for that purpose).
THUS: Jesus was not making a “pro-Roman” (much less, pro-unbiblical government) statement. He was telling people to honor God with what He has commanded (e.g. tithes), while recognizing the legal ownership of Rome’s government coinage...and escaping their trap in the process. Moreover, if you read how Jesus responded to Herod himself when brought before him for examination, you will note that Jesus did not even dignify the man with a single word and ignored his questions completely (see Luke 23:6-11). This was understandable considering the man’s blatant wickedness, which included the murder of Jesus’ own cousin (John the Baptist, see Luke chapters 1-3). So Jesus did NOT demonstrate absolute obedience to governmental authorities.
As you noted, Paul, DID indicate that Christians were to follow righteous government decrees as good residents of the realm (e.g. Romans, chapter 13). However, if you study his own life you will see that he blatantly rebelled against unrighteous (i.e. unbiblical) government decrees. For example, he refused to stop preaching the Gospel, though OFTEN ordered by the government to do so (by both Jewish and Roman authorities).
Peter probably stated the biblical position of the Church best, with regard to rebelling against unrighteous authority. The Jewish Sanhedrin had just ordered him and John to not preach in the Name of Jesus ever again, to which he replied , “Whether it is right in the sight of God to give heed to you rather than to God, you be the judge; for we cannot stop speaking about what we have seen and heard." ” (Acts 4:19-20, NASB)
So in conclusion: There is NOTHING within accurate Christian theology that dictates a blind subservience to governmental authorities. On the contrary, there is a RICH history of Christian rebellion against unrighteous governments and authorities from the days the New Testament was written, and even up to the present time. (The great Reformation itself is a very apropos example to note.) Thus, there is nothing incompatible between Libertarian views on limited government (which are quite biblical actually, even back all the way to the Law of Moses) and sound Christian theology.
I hope my explanation helps to clarify.
In Jesus,
-Rev. Rich Vermillion
Proper analysis of Jesus' statement about "giving to Caesar the things that are Caesar's, and to God, the things that are God's" as to consider the full context. So please refer to the text in Matthew 22:15-22 for the Scripture and compare it with this explanation:
The Pharisees had teamed up with the Herodians (who they normally despised) in an effort to trap Jesus with His words. They asked Him whether the Jewish people should pay "taxes unto Caesar" or not. If He said, "Yes" the Pharisees planned to use that to discredit Him, because the common opinion of the Jews was that the hated Romans were occupiers and those who cooperated with their tax system (such as the ‘Publicans’, Jewish tax collectors) were traitors.
The Herodians, on the other hand, were a group of elitists who actually worked for the Roman authorities. They especially supported the rule of the hated King Herod (appointed over that province by Caesar) and received special privileges and favors for that support (hence their name, and why they were despised by the Pharisees under normal conditions). Their plan was that if Jesus said, "NO!" to report Him to the authorities and have him taken into custody for inciting tax-rebellion.
Jesus, "perceiving their malice" the NASB version of that passage says, said, "Why are you testing Me, you hypocrites? Show Me the coin used for the poll-tax."
NOTE: The Jewish Temple ONLY received Jewish coinage for tithes and offerings because of BOTH the presence of Caesar’s image (which was idolatrous since he was considered ‘divine’) and due to the Roman government’s tendencies to debase their coinage’s metal content below the purity required by Levitical Law (which Austrian economics also ‘forbids’...chuckle). On the other hand, the Roman authorities ONLY received Roman coinage for taxes. Consequently, they brought him a denarius (a silver coin of the Empire). Holding it up, Jesus said, “Render unto Caesar the things that are Caesar’s...” (i.e. that money belonged to Caesar’s government, so give it back to him if he asks for it) “...and unto God, the things that are God’s” (i.e. the tithe and offerings required by Levitical Law as God has prospered them, using the money the Jews minted for that purpose).
THUS: Jesus was not making a “pro-Roman” (much less, pro-unbiblical government) statement. He was telling people to honor God with what He has commanded (e.g. tithes), while recognizing the legal ownership of Rome’s government coinage...and escaping their trap in the process. Moreover, if you read how Jesus responded to Herod himself when brought before him for examination, you will note that Jesus did not even dignify the man with a single word and ignored his questions completely (see Luke 23:6-11). This was understandable considering the man’s blatant wickedness, which included the murder of Jesus’ own cousin (John the Baptist, see Luke chapters 1-3). So Jesus did NOT demonstrate absolute obedience to governmental authorities.
As you noted, Paul, DID indicate that Christians were to follow righteous government decrees as good residents of the realm (e.g. Romans, chapter 13). However, if you study his own life you will see that he blatantly rebelled against unrighteous (i.e. unbiblical) government decrees. For example, he refused to stop preaching the Gospel, though OFTEN ordered by the government to do so (by both Jewish and Roman authorities).
Peter probably stated the biblical position of the Church best, with regard to rebelling against unrighteous authority. The Jewish Sanhedrin had just ordered him and John to not preach in the Name of Jesus ever again, to which he replied , “Whether it is right in the sight of God to give heed to you rather than to God, you be the judge; for we cannot stop speaking about what we have seen and heard." ” (Acts 4:19-20, NASB)
So in conclusion: There is NOTHING within accurate Christian theology that dictates a blind subservience to governmental authorities. On the contrary, there is a RICH history of Christian rebellion against unrighteous governments and authorities from the days the New Testament was written, and even up to the present time. (The great Reformation itself is a very apropos example to note.) Thus, there is nothing incompatible between Libertarian views on limited government (which are quite biblical actually, even back all the way to the Law of Moses) and sound Christian theology.
I hope my explanation helps to clarify.
In Jesus,
-Rev. Rich Vermillion
Bob, I have already ordered BOTH of your Austrian economics study guides and your "Politically Incorrect Guide to Capitalism" from Mises.org. I am awaiting their arrival now.
I am excited to get my hands on them, of course, but I am also THRILLED to discover you have a personal blog. I will stay tuned!
-Rich
I am excited to get my hands on them, of course, but I am also THRILLED to discover you have a personal blog. I will stay tuned!
-Rich
Nice comment by Rich. Thanks. However I would like to point out that Israel under Moses was initially an anarchist society, not a limited government society. The Kings came later.
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