Posted by: uvazu | September 19, 2008

Financial Crisis and America’s Year of Jubilee

The Republican Bush Administration came to power with the slogan of compassionate conservatism. In essence, Americans were led to believe that the Bush Administration would tamper conservative ideals with kindness.

Eight years later, the administration is almost running out of time and it is leaving behind a social and political legacy that is neither compassionate nor conservative. Loss of lives in the War of Iraq and Afghanistan,  America is now the greatest debtor nation while the country is the leading debtor nation and its citizens enjoy the unenviable title as the greatest debtors in the world. And with the big financial institutions failing, isn’t it time to call for a Jubilee Year for all Americans?

The concept of the Jubilee Year derives from the wisdom of the Hebrew Scriptures. At the end of every 49 years, a new cycle of landownership, property and economy begins.  The Holy laws required that land and property be returned to its original owners. Slaves were to be freed and all debts forgiven.

As the US Government continues to bail out the big financial institutions considered too big to fail, this Administration has a wonderful opportunity to bequeath a legacy of true compassion. In this case, it can find ways to implement a modern Jubilee for all Americans, not just the wealthiest who got us into this mess, launching this country on a new cycle of prosperity. Otherwise, bailing out the big institutions without propping up the base from which that wealth is generated is a one-sided solution and it wont work in the long run. A proclamation of an American Jubilee Year will redeem this Administration and give it a most favorable legacy.

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Responses

  1. I am all for forgiving debts as money doesn’ t mean much to me but even if Bush did do that, I dont’ think it could redeem his administration. I don’t think there is anything he can do. It was interesting to see Tony Blair on John Stewert last night. John was blasting him with questions about Bush and Tony Blair kept saying how much he liked Bush. Interesting to see the different sides….

  2. Hmmm… so much judgment to weed through that I need a power tool. Why do politics do this?

    I think I’d rather reach out in a wholistic way with the Jubilee concept. If the world would embark on reprieve for all, balance for all, freeing all to be as they are… potential could be born.

    Alas, but in America lives the American. Wash the debt away today, and it clears the credit card for amassing the same and more tomorrow!

    Boeing will go back to work eventually. Will the (currently imaginary) bonus check pay off the debt incurred during the strike? Or, will it buy a new holiday car? Guess which is more popular!


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