Bernanke Saw His Shadow
Somewhere in New York, or maybe Washington D.C., the Federal Reserve Chairman arose from Penn Station, or the Metro, and like Punxsutawney Phil, saw his shadow.
According to the Wall Street Journal, Federal Reserve Chairman Ben Bernanke said that “the recession was ‘very likely over,’ as consumers showed some of the first tangible signs of spending again. Mr. Bernanke, who had become cautiously more upbeat in recent weeks amid signs of third-quarter growth, said for the first time that forecasters agree ‘at this point that we are in a recovery,’” (reported, WSJ, 9/15/09).
According the Associated Press (1/3/10), “Some analysts worry that the Fed, which has held rates at record lows since December 2008, could be fueling a new speculative period and potentially a future economic crisis…Bernanke suggested the Fed might have underestimated the full force of the recession, which struck in December 2007…There's concern about how vigorous the recovery will be once government supports are removed later this year.”
As an economic thaw may be approaching, churches may now begin to reflect on their future and begin looking seriously at the things that may have been unattended over the past year and a half. Maybe the recession is winding down. I certainly hope so. Many churches and non-profits have been hiding out and holding tight. For some, difficult issues have been left unaddressed and organizational and missional problems grew. In many congregations, issues of conflict were set aside to help meet the immediate needs of members and those suffering through lay-offs, work reductions and foreclosures.
We’ve had important ministry taking place, meeting needs and dealing with the brokenness the recession has revealed. Yet some deeper and systemic issues continue to grow unaddressed.
How long will it take for the desperation scripts to be re-written? What are the new imaginaries the will give serve as templates to our views of jobs, economy, and community?
More on this later...