Archives for category: Risk

 

Traditional slavery, chattel slavery, is officially illegal in all countries.  However, while most of the world has since eradicated the antiquated systems that once forced multitudes of people into involuntary servitude, today, there is a new form of slavery—a new slave master.

 

According to Cambridge Dictionary, slavery is defined as “the condition of being legally owned by someone else, or the system in which people are owned by others.” Wikipedia puts it this way:  Slavery is “a legal or economic system in which principles of property law are applied to humans allowing them to be classified as property, to be owned, bought and sold accordingly, and they cannot withdraw unilaterally from the arrangement. While a person is a slave, the owner is entitled to the productivity of the slave’s labor, without any remuneration.”  In today’s capitalist economy, financial institutions have become the new captains of the slave trade.

 

Proverbs 22:7 says, “The rich rule over the poor, and the borrower is slave to the lender,” (NIV).  No where is this truer than in “free trade.”  The average American is shackled by debt.  According to an article published on Nerdwallet.com, as of October 2015, the U.S. household consumer debt profile was as follows:

  • Average credit card debt: $16,140
  • Average mortgage debt: $155,361
  • Average student loan debt: $31,944

 

The article further went on to say that the total debt owned by American consumers was:

  • $11.85 trillion in debt
    • An increase of 1.4% from last year
  • $918.5 billion in credit card debt
  • $8.09 trillion in mortgages
  • $1.19 trillion in student loans
    • An increase of 5.9% from last year

 

The median household income for 2014 was $53,657. As the numbers suggests, most Americans are in over their heads in debt.  The problem is not so much the debt itself.  The problem is the issue of usury, which is illegal and morally reprehensible.  Merriam-Webster defines usury as, “the lending of money with an interest charge for its use; especially:  the lending of money at exorbitant interest rates.”  How does one quantify and/or qualify exorbitant?  Today’s credit card APR can range from low 13% all the way to 29.9 %.  I would make the argument that even 13% could be considered exorbitant.  Who determines exorbitance?  I’m sure it’s not the average citizen.

 

The main difference between traditional slavery and economic slavery is that most individuals, at some point, voluntarily entered into their financial engagement(s).  However, the similarity that both conditions typically share is the inability to readily disengage from the entanglement.

 

Let’s take another look at the definition of slavery.  The first part of the definition of slavery asserts that slavery is orchestrated by “a legal OR economic system.”  By definition, the financial system is an “economic system.” So, check.  The second condition of slavery is that an individual is “legally owned” by another individual(s).  Yet, another check.  I must say this, although individuals are not physically owned by financial institutions, they are economically imprisoned and shackled.  Before I expand on this though, I would like to state the third condition of slavery, which is “they cannot withdraw unilaterally from the arrangement.”  Check!

 

Most financial institutions are in the business of buying and selling debt.  It is not uncommon for people who are saddled with debt to see their loan(s) change hands several times during the lifetime of their loan.  With each change of ownership, there are new notices and disclosures, which are usually multiple, page documents that are typically indiscernible, microscopic fine-print with an inherent obligation for compliance.  In essence, the borrower does not get to pick and choose which terms and conditions they accept and agree with.  Once the loans are sold, the borrower’s finances become subject to the new lender’s (“owner”) discretion. The borrower cannot readily disengage from the financial obligation without legal recourse or ramifications.  In some cases, many individuals are working solely to pay debts.

 

There are people who are reading this post and are probably thinking that individuals who are indebted are in the position that they are in because of poor decision-making.  While that may or may not be true of some, it’s not true of others, and I caution such thinking.  There are many individuals, who have made prudent decisions, yet have still found themselves victims of circumstances, including divorce, life, sickness, death, fraud or even hunger.  Not everyone in debt is living above their mean.  Some people are simply trying to live.  A mother who uses her credit card to buy food and clothing for her family is a far cry from a squanderer.  A young, doe-eyed humanitarian who made a prudent decision to attend medical school to refine his God-given gifts and impact his community and the world around him is far from what I would call irresponsible.  While I am sure there are people who’ve placed themselves in the lion’s den, this is not everyone’s story, and the truth is, even if it were, do they deserve to be eternally imprisoned?

 

King Solomon said it best when he said, “I have seen something else under the sun: The race is not to the swift or the battle to the strong, nor does food come to the wise or wealth to the brilliant or favor to the learned; but time and chance happen to them all,” (Ecclesiastes 9:11, NIV).  One on the worse things that any of us could do on our journey on this Earth is to make distinctions between “us” and “them.”  If anyone has lived on this Earth long enough, one of the valuable lessons learned is that time is the ultimate equalizer where “they” often becomes “me.”

The Revolution Will Not Be Televised is a poem/song by Gil Scott-Heron (1949-2011), in which the title phrase has been cemented into modern-day vernacular.  Scott-Heron’s influence has transcended cultural, economic and regional borders.  In The Revolution Will Not Be Televised, Scott-Heron challenges our apathetic despondence, which fuels our inclination towards complacent mediocrity.  He calls us to take action in a world of unpredictability.  The Revolution Will Not Be Televised asserted that our inaction is an action of dire consequences.  The poem also suggests that our call to action should not be precipitated by the possibility of fame or pursuit of grandeur.  It further states that the greatest revolutionaries are the ones who go unsung and unrecognized.  They are the ones who are willing to go into the battlefield with no guarantees of victory.  They are the ones who are willing to take a chance—to lay it all on the line.  They are usually the ones who truly make a difference.  They are the Esthers, the Daniels, the Davids, the Josephs and the Abrahams.

We are living in revolutionary times.  More specifically, we are in the middle of a revolution, and it’s time that God’s people spring into action—get off of the sidelines and jump onto the battlefield.  We can’t afford not to.  Many Christians are governed more by fear, doubt and insecurities more than we are the Holy Spirit.  Oftentimes, we sit idly by as the World advances its agenda, because we are afraid to speak out, offend or interject.  We rather murmur than make a difference.  We use phrase like, “Who am I to say/judge?” and “To each his own” as spiritual clutches.  Let me be very clear, as Christians, we have every right to say.  We were called to say.  When Jesus issued the decree not to judge others, He did not mean that we should stand in passive agreement of sin, He meant that we should not condemn others because of it.  A society with no governing laws/standards is governed by anarchy, complete disorder, which by definition is contradictory to the nature of God, which is order.  We are called to make a difference.

Over the past few months, I have read various devotionals and books where the authors have suggested that we are in the final days; and we should pursue life passionately.  The truth is, no one but God knows when the final days are.  However, the fact that we do not know when the final days are should ignite a fire in our souls.  Imagine that tomorrow was indeed the last day.  Wouldn’t you want to make today count?  Wouldn’t you want to know that your life counted and that you gave it all you got?  If you answered yes, then you need to start living like you are dying!

The truth remains that despite whether or not tomorrow is indeed our last day, we are indeed dying.  We approach closer to death with every breath of life we take.  The more we live, the more imminent death becomes.  For many people, this topic of conversation is rather macabre.  Those individuals would rather talk about sunshine and rainbows.  However, the harsh reality is that during the time it took you to read this post, time has been withdrawn from your flesh and the withdrawal in non-refundable.    We know that time waits on no man, and that it does not stand still.  The fact that we only have one life to live means that we only have one lifetime to make a Kingdom difference.  So, why not give it all that we have?  Why not go for broke?  Why are we not pursuing our God-sized dreams?  Going for that business? That career goal?  That missionary work? That dream that only you and God know about?  Moving forward, let’s take back what the enemy has stolen and place it back into the hands of those who can properly steward it for God.  There is a revolution, and it has already started.  Where will you stand?