Wednesday, December 23rd, 2009

Biblical Principles Just As Effective For Finance As Everything Else

But how's his credit score?In These Troubled Times, many Americans are seeking financial wisdom from an unlikely source: the Bible.

All sound professional advice, I found, … has its roots someplace in Scripture," said Ron Blue, author of "Surviving Financial Meltdown" and founder of the Kingdom Advisors, which trains Christian financial professionals. Blue uses the Bible for guidance on everything from budgeting to long-term investing and handling an inheritance.

Some experts, however, are unconvinced.

Robert Manning, author of "Credit Card Nation," said biblically based financial advice isn't sophisticated enough in a world of rising health care, housing and retirement costs, where people need to learn to take advantage of complicated credit and tax laws.

"If you're going to go pre-New Deal, 1924 America, that's basically what this advice is driven by," Manning said. "It sounds so good and plausible until you actually put it into reality, and it just doesn't work."

You don't say!

24 Comments / Post A Comment

Would it be wrong for me to suggest they consult the Torah instead?

Jesus saves, but Moses invests.

Seriously though, the Expensive & Tasteful Education forces me to point out that there is a long-standing tradition of Islamic or sharia-compliant banking, which primarily concerns itself with working around Islamic prohibitions on accepting or paying interest on loans. It's quite the thing for conservative Muslims, apparently.

Oh, and I totally screwed up that link., rather.

Seems to be working out great for Dubai!

Interesting too how Dubai the Corporation can get a bailout to avoid default but individuals are fleeing in droves (witness abandoned Mercedes with credit cards on the seat in the airport) to avoid debtor's prison. Guess no matter what religion, it's bankers FTW!

beingiseasy (#1,735)

If Jesus were here he could sure explain derivatives and credit default swaps.

NeonTrotsky (#2,249)

Nah, he'd just cast these "Christian" financiers out of their consulting firms. Those concepts must remain part of the mystery of the universe.

HiredGoons (#603)

Every time I walk by that sign I laugh and simultaneously give props to whoever made it.

Screen Name (#2,416)

No, no! It really works! I just got back from a Citibank branch at 49th and 3rd. Heh. I don't think there will be any money changing going on there for a few days, if you catch my drift. Den of thieves, man! Den of fuckin' thieves up in there. I didn't even need the whip. No sheep or doves, just stupid tables with little pamphlets everywhere.

Also in the Bible? Communism.

jolie (#16)


HiredGoons (#603)

been reading too much Shirley Jackson?

Talk about servicey! Thanks for the reminder that I gotta go buy that lottery ticket.

josh_speed (#97)

I pray to the Baby Jesus to win lotteries, but that doesn't seem to be His Plan for me.

"pre-New Deal, 1924 America."

That's pretty much where I live, minus the chickens (maybe in the Spring!).

EvilMonkey (#1,063)

Not being a bible scholar, and only sufferring a dozen years of catechism before the bishop slapped my face and sent me on my way, I may be wrong about this but the phrase "camel through the eye of a needle" sticks in my mind. If you've got lots of money, you are going to hell. The only way out is to give it all away and take up a vow of poverty. That, and take care of each other, seem to be the overwhelming messages. So recently America gave a whole bunch of it's money away, and it's trying to do something with the health care issue… Holy Shit! America is trying to get into heaven!

garge (#736)

Jesus came to me in a dream and said Hark, seeketh the BoA ATMs that still process envelopes, tear out pages of your New King James pocket edition to deposit as cash, and withdraw the first 100.00 immediately. Repeat as many times as He tells you. Go, tell it on the mountain.

I use the pro-slavery parts of the bible to justify unpaid internships. Ancient wisdom!

HiredGoons (#603)

I ignore the anti-gay stuff and just focus on 'do unto others…'

Oh the things I would do to myself…

josh_speed (#97)

Ha! Most of the anti-gay stuff is in Leviticus, and the Bible had totally jumped the shark by then anyway.

Spiers (#12)

There's a good counterpoint in the December Atlantic by Hanna Rosin titled, "Did Christianity Cause the Crash?" It's about rich mega-church ministers who convinced their parishioners that it was okay to spend well beyond their means because "god will provide". Turns out, he didn't.

Mindpowered (#948)

"Rich mega church ministers who prey on immigrant/disadvantaged communities, while accepting kickbacks from banks for loans brought in"

There, fixed.

Right? The loan kickback stuff is desperately underplayed in the article. Like, "oh, and churches were getting $350 for each parishioner who signed a loan." Wait, what?

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