Reverend Gregor Henderson - President of the Uniting Church in Australia, National Assembly

It is often in times of crisis that people ask the questions, “Where is God in this?” and “How could God let this happen?”

But God isn’t necessarily speaking to us through this global financial crisis. God is not responsible for every event in the world. God is not trying to punish us.

Rather, we learn a lot about what God wants for humanity by observing both the good and the bad in the world. Reflecting on these events, as we are now, reminds us of Christian truths. It is in this way that God speaks to us and works through us.

We know that the current economic system, driven by greed for profit, has failed us all… including the billions who live in dire poverty.

If we recognise that the economic system has failed us, we reflect on God’s teaching that an abundant life doesn’t mean the rich getting richer. The important things in life are not material. Security is earned through faithfulness in, and love of God.

By acknowledging this, we can imagine a new economic system that has at its heart values of equity, justice and respect for creation – God’s own image for the world. We can imagine an economic system that supports the common good. We can imagine an economic system that supports abundance, not through growth but through sharing and care for humanity.

People in many parts of the world are always in economic crisis.  They live in poverty and lack basic necessities.  This latest crisis will make things worse for them and now is the time to be more generous, not less.
 
The Christian faith calls us to stand with those who are most vulnerable, those who live in poverty, those who are left behind in the dash for cash that’s been the driver of the global financial crisis.

It’s time to say that growth for its own sake is not a proper goal for humanity just as amassing enormous material wealth at the expense of others is not a proper goal for individuals.

Instead, the economy is a tool that we can wield for more life-affirming goals: human flourishing and wellbeing; vibrant and inclusive societies; a healthy and sustainable planet.

Now is the time to listen to God and to hear what God would wish for humanity – societies in which all people live in dignity and the gifts of God in creation are shared amongst us all.

- Rev Gregor Henderson

Commissioner Linda Bond - Australian Eastern Territorial Commander of the Salvation Army

The Salvation Army is, in Australia and around the world, standing ready to help people amid the current economic crisis.  We are at work in 115 countries and we are seeing the crisis affecting people globally.  We help people every day and we do this because we care: we do this because The Salvation Army is a church first and a social service provider second.  It’s in the name of the Lord Jesus Christ that we exist and in his name we want to help people that they might come to trust in him, not money or the stability of the economic market. 

The global markets crisis actually highlights to me that it is in the tough times that we learn the toughest lessons.

I particularly worry about the impact this is going to have on employment into next year.  We hear the predictions of rising unemployment over the next 12 months when sales are down and business finds it hard to get credit and can’t fund its plans. 

And there are worries about meeting the family budget.  Luxury items go: but it bites much deeper.  It’s when the mortgage payments are running behind that people start to worry.  Families and relationships come under strain.  Hopefully, the reductions in interest rates over the last few weeks will take some of this pressure off.  But, pressure reductions are one thing.  Becoming less reliant on material things and becoming more interested in the eternal things is the better way to go.

These are difficult days because while the interest rate reductions take pressure off the mortgages and borrowing costs, it is a sign that those who depend on interest rates for income are also going to suffer.  A lot of retired people are in this boat. 

I think our material society has got a lot of people caught up in the “I can have it now” mentality.  Heavy personal debt for consumables is a great tragedy.  These days of economic stress just highlight the underlying issue.  Instead, Jesus taught us to trust God for our needs. 

Housing debt levels seem to be way too high.  This is now hurting lots of families as the housing market softens and as unemployment creeps up.  The Salvation Army has people to help with financial counselling and the needs are great.  If unemployment does go up the way we are hearing that it might, this will create more stress and more need for help.

One thing we’re very much aware of is that reductions in investment markets impact The Salvation Army’s ability to help people.  So we are going through an internal review at the moment on how to cope through these days ourselves.  Australians are terrific at supporting the Salvos and this has enabled us to do a lot of good work.  But we do rely on returns on investments among other things to help us fund our budgets.  We are trying to cope like everyone else.

These events make The Salvation Army stop and examine its own priorities and allocations.  When the needs are greatest, The Salvation Army needs to be able to be right in there.  To address this, we are working through a strategic review with a 2020 horizon.  We want to make sure our fundamental Army priorities are right. 

The Salvation Army will be there to deal with the needs that are real and growing.  This takes people.  We have a lot of great support to get our work done.  A lot of people are committed to helping the Salvos.  Our volunteers are great!  We have industrious and highly skilled men and women serving as Salvation Army officers and employees in the nation’s cities, regional towns and in rural Australia where the financial markets crisis makes our rural Australians already difficult situation, even worse.

The retailers are obviously gearing themselves up for a difficult Christmas.  My prayer is that at this Christmas time, we will be reminded that we are to seek first God’s kingdom and his righteousness and then all the things we need will be provided for us: in God’s way and with God’s timing – if we trust Him.  It may not be in the way we expected.

- Commissioner Linda Bond

Reverend Robert Benn, Moderator General of the Presbyterian Church of Australia

“What do you think God might be saying through this economic crisis?”

There’s so much talk about .  But, out of all this talk . . one thing is clear.  The world is worried.  Companies are closing down.  Money is being just parcelled out willy-nilly!  It’s crisis time!

So to that very important question: “What to you think God might be saying through this economic crisis?”

Remember Gordon Gekko’s “Greed is good.  Greed is right.  Greed works.  Greed clarifies!” 

The problem is, it seemed that the ‘haves’ of the world believed it.  Certainly the phenomenal disparity between rich and poor has grown to nightmare proportions.  The world hasn’t cared, unless oil was involved!

And now, “The chickens have come home to roost!”

So, what indeed might God be saying to us?  To us consumers . . who still “shop ‘til you drop!” . . while millions of our fellow travellers suffer incredible deprivation?

I’ve been reading Amos recently.  He’s one of God’s spokesmen long before the coming of Jesus.  He addresses this kind of issue.  In his writing he has the Lord God saying, “I hate all your religious words and practices that do not result in justice and equity!”

Then Amos cries, “Let justice flow on like a river!”  And you can just imagine what is in the mind of God.  And you are meant to imagine . . imagine a mighty tide of justice flooding the land. 

It certainly goes against the counsel to be greedy!

Amos goes on to talk about a drought.  We respond, “We know a bit about that!”.  But, Amos says,  “No, not that kind of drought.  Rather, “a drought and famine of hearing the words of the LORD.” 

Then he tells the reason.  “You’ve forgotten how to grieve over the injustice and inequity all around you.”  “You’re just not concerned anymore.”

Well, that’s Amos.

But, I reckon that’s all very close to home for us.  Captured by consumerism, which is just so close to greed! 

What we need today is a great body of people, who will be shocked by what has caused this crisis.  People who will repent of past greed.  Find forgiveness through his Son who died for them.  Come back to God and his concerns.

I think that is what God is saying to us!

And if this means God’s hand of discipline on us.  So be it.  Be assured we are in good hands.

I think that’s what God is saying!

- Reverend Robert Benn

Cardinal George Pell, Catholic Archbishop of Sydney

What might an Archbishop say usefully on this financial disaster? Especially an Archbishop who acknowledges the benefits market economies have produced.
A few thoughts come to mind.
While Australia is better placed than many countries, it’s likely to be some time before markets settle, at lower levels, with the prospect of heavy job losses. It’s one thing for the rich to lose a lot of their wealth. It’s quite another thing for a wage-earner to lose their job – especially if they have dependents.
This is a brutal reminder, once again, that good times never last forever, and we must never plan as though they do.
The interest on debt always has to be repaid, even in bad times. And so does the capital, eventually. Reckless lending and imprudent borrowing provoked this catastrophe. No-one seems sure how much debt there is, or where it finally resides. But debts are mountainous even in the USA and Europe.
The situation isn’t like the depression of the 1930s because Australian social security is much better, while the USA now has massive debts unlike its situation in the 1930s.
Even though the Australian economy is in much better shape than the USA’s or Europe’s, it is caught up in the maelstrom of this global financial crisis.
We must do what we can to solve our own problems, but we will be dependent also on what others do.
Leadership means a concern for the common good. Regulators must remember this as they strive to achieve greater transparency; protection of those unable to protect their own legitimate interests; self regulation to diminish enormous salaries; and long-term programs for recovery.
People need jobs. But when these aren’t to be found, special consideration is needed for the jobless.
Greed isn’t good. Never good. Reckless greed provokes disaster. And finally and unfortunately, good intentions are no substitute for intelligence and effective solutions.

- Cardinal George Pell