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dhimmi no more is confused on voodoo economic concept from Reagan years

Reader comment on item: Counting Islamists
in response to reader comment: Islam and voodoo economics

Submitted by Keith Williams (United States), Nov 3, 2008 at 23:26

Hi,

Wrong, Saudi Arabia completely bans the production, importation or consumption of alcohol and imposes strict penalties on those violating the ban.

Wrong, Islam is the same message as sent to all prophets before Muhammad and is for all mankind.

Qur'an 14:4

سُوۡرَةُ إبراهیم

وَمَآ أَرۡسَلۡنَا مِن رَّسُولٍ إِلَّا بِلِسَانِ قَوۡمِهِۦ لِيُبَيِّنَ لَهُمۡ‌ۖ فَيُضِلُّ ٱللَّهُ مَن يَشَآءُ وَيَهۡدِى مَن يَشَآءُ‌ۚ وَهُوَ ٱلۡعَزِيزُ ٱلۡحَكِيمُ (٤)

wama arsalna men rasulini illa bilisani qawmihi liyubayyini lahum fayudillu allahu man yashao wahuwa alAAazeezu alHakeemu

Ibrahim

We sent not a messenger except (to teach) in the language of his (own) people, in order to make (things) clear to them. Now Allah leaves stray those whom He pleases and guides whom He pleases: and He is Exalted in power, Full of Wisdom. (4)

Here again I think we need to include the verses before this one to give you the context of all mankind thru all the prophets and Muhammad.

Ibrahim
In the name of Allah, the Beneficent, the Merciful

Alif Lam Ra. A Book which We have revealed unto thee in order that thou mightest lead mankind out of the depths of darkness into light― by the leave of their Lord― to the Way of (Him) Exalted in Power, Worthy of all Praise! (1) Of Allah, to Whom do belong all things in the heavens and on earth! But alas for the Unbelievers for a terrible Penalty (their Unfaith will bring them)!― (2) Those who love the life of this world more than the Hereafter, who hinder (men) from the Path of Allah and seek to make it crooked: they are astray by a long distance. (3) We sent not a messenger except (to teach) in the language of his (own) people, in order to make (things) clear to them. Now Allah leaves stray those whom He pleases and guides whom He pleases: and He is Exalted in power, Full of Wisdom. (4)

you wrote:
Most people have no problems with alcohol and alcoholism is a disease and if any one is to be blamed here then it must be your Allah and there is a saying in Arabic al-mamnuu3 marghuub and do you think for a minute that people do not consume scotch in Saudi Arabia? they even call their favorite scotch Yuhanna mashi and if you have it on the rocks it is called yuhana mashi bil talj oh you can ask one of your Arab masters to tell you what this means and so much for the hypocricy of Muslims

As applied by analogy this means all intoxicants.

Intoxicants and Gambling Prohibited*

[2:219] They ask you about intoxicants and GAMBLING: say, "In them there is a gross sin, and some benefits for the people. But their sinfulness far outweighs their benefit." They also ask you what to give to charity: say, "The excess." GOD thus clarifies the revelations for you, that you may reflect,

*2:219 The world now recognizes that the economic benefits from manufacturing alcoholic beverages and illicit drugs are not worth the traffic fatalities, brain damage to children of alcoholic mothers, family crises, and other disastrous consequences. Check with "Alcoholics Anonymous" and "Gamblers Anonymous" for more information.

Intoxicants and Gambling Prohibited

[5:90] O you who believe, intoxicants, and GAMBLING, and the altars of idols, and the games of chance are abominations of the devil; you shall avoid them, that you may succeed.

[5:91] The devil wants to provoke animosity and hatred among you through intoxicants and GAMBLING, and to distract you from remembering GOD, and from observing the Contact Prayers (Salat). Will you then refrain?

As far as your class on voodoo economics goes. I think you mean that we are currently under voodoo economics because we are going deeper and deeper and deeper into debt. Money can be a liability as well as an asset my friend. It deepens on if it is going into your pocket from such things as trade or investing. While a liability is just the opposite; it takes money out of your pocket.

Liabilities include:

  • Mortgages

  • Car loans

  • Credit card balance due

  • School loans

  • Personal loans

  • Taxes

The typical amount you pay on each of these liabilities is considered your expense related to that liability. The term expense here refers to the total payment, including principal payment and related interest.

Even Robert Kiyosaki in his "Rich Dad, Poor Dad" book, would rather classify a house as liability, instead of an asset, which is the financially prudent approach.

You would need to constantly incur money for the maintenance of your house. These could take the form of property taxes, mortgages and insurance payments, utility bills, and paying to fix the water leak or toilet flushing or electrical wiring etc. All these are expenses related to your house. Therefore, it is a misleading thinking if you treat your house as an asset, for who would own it if you stopped paying mortgage payments?

A lot of people would purchase houses with the expectation that they will go up in value, but there is no guarantee of this.This is what got us into the mortgage meltdown. In some cases, some houses actually went down in value as we see today right? A house is only considered an asset when it is sold for a profit. Hence a trade. Which is in accordance with Islam.

Debt is a liability because it is money owed to someone else. The classic example of such a liability is credit card debt. Credit cards are the devil if I can quote The water boy's mom.

When you use a credit card, you are in actual fact, taking a loan from the bank or the company that issued the card. And with the loan comes interest payments. Riba. Most credit card companies in general do not require you to pay interest for the first credit card cycle, which can be up to 30-45 days. However, any amount not paid off in full after that first cycle will be subjected to interest. And if you have a balance due on your credit card, then all future charges are also subjected to interest. More Riba on top of Riba. There will be no more first cycle grace period. As no money is exchanged in hands, the unwary are easily seduce into debt as they often perceive as if something is being purchased for nothing.

Debt in general is a bad thing. However, as Robert Kiyosaki explained in his book, that there is bad debt and good debt. I am saying that all debt is bad according to Qur'an. When you borrow money to buy ego toys such as cars, clothes and electronic equipment, you are incurring bad debt. There is not financial gain from all these purchases. Islamic Economics is when you are just charged a fee in the trade.in order to purchase an asset not a liability. A classic example is money borrowed to buy rental real estate.

peace

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