Prophetic Counsel

With all of the financial troubles and the crisis that our nation and world faces, I was reminded of a very moving talk from President Hinckley (I highly recommend clicking on that link and reading his talk, particularly the second half). I was on my mission when he gave this talk and I remember it very vividly today because his statement was so clear and sobering. I was in Ciudad Obregon at the time. It resonated through me, and to this day I can still hear him saying, "there is a portent of stormy weather ahead to which we had better give heed."

Many in the world (sadly even within the church) felt the need to completely disregard his prophetic advice and continued on in their posh and luxurious lifestyles. I look at my generation with sadness that we don't measure up to our grandparents generation. Bryce Carter showed me a book, I believe by Tom Brokaw, where Brokaw called our grandparents generation the "greatest generation". After seeing how people behave today, I couldn't agree more. Today we have such a "me first" generation that focuses on instant gratification, temporal pursuits, and ignoring all accountability. I hear way too often, "it's not my fault". Thanks to my less than stellar generation, savings accounts have been just a neat thought, and people racked up the debt beyond what they could control. Many people purchased homes beyond their capability to pay for. Families went into insane credit card debt, felt they had to have the really fancy cars, all the designer clothes, the big house in the trendy, coveted neighborhoods. The past ten years truly have defined the phrase, "keeping up with the Jones".

Well, that entire decade of frivolous spending and lack of savings has caught up with the world. That bubble has finally burst, and we face some challenging times because of it. Had people only listened to President Hinckley, we would not be in this mess we are in today.

My biggest complaint about this whole situation, is that nobody is taking any responsibility or accountability. The government wants to bail out all those greedy homeowners that overextended their finances, and by so doing are bankrupting the entire nation. Rather than let the market correct itself and allow those who made these mistakes suffer the consequences, our entire nation, and world for that matter, is now going to pay the price, both financially and emotionally. Granted there are some exceptions to this, but by and large, the VAST MAJORITY of people who have foreclosed should never have purchased the home to begin with. Just because the banks were handing out loans like candy does not justify their actions. These people should have seen what they truly could have afforded, bought accordingly, and not have gambled on their interest-only loans. So, my frustration is that society wants to blame everyone and anyone but those truly responsible- the greedy consumer and greedy banks.

I don't understand why the family of four needs the 3500 sq. ft. house, or the $40K SUV's, or why the wife has to wear the $150 jeans, or the husband needs the 60" plasma tv. The list goes on and on. My dad's parents raised 10 kids in a two bedroom house that was probably 1000 square feet (anyone in my family know for sure what size it was). They did just fine with that situation. How have we as a generation gone so far astray? In regards to these people that have lost their homes, the general attitude toward them is that this is the end of the world for them, and we have to do whatever it takes to help them stay in their home. Hogwash! They can go rent an apartment and still be fine. I have rented an apartment for the last 11 years of my life, and I am happy with life. Yes I do hope to one day own my own house, but unlike them I will not bankrupt my future to get into one. Lisa and I are hoping to buy one next summer AFTER we have saved enough for a down payment.

In short summary, I am so grateful for our Prophet today and the inspired leadership that he provides. The prophet and apostles truly do speak for the Lord. If we could follow President Hinckley's advice from 1998, we would be so much happier and more secure as a society and people. And for those of you who refuse to believe that even the Mormon community is guilty of what I complain of, go check the numbers, the studies and the facts. Salt Lake City was ranked by Forbes magazine as the most vain city in the U.S.A, and Utah (up until very recently) led the nation in bankruptcies per capita. I will be interested to see if our generation can rise to this challenge we face and if we shape up. I hope we can live up to the legacy left by our grandparents and get out of this awful mess we are in. In the mean time, Lisa and I will be cutting back on the unnecessary stuff and trying to build our savings account.