The First Woe (Habakkuk 2:6-8).
‘Shall not all these take up a parable against him, and a taunting proverb against him, saying,
‘Woe to him who increases what is not his. How long?
And who loads himself with pledges.'
Shall not those who will bite you rise up suddenly,
And those awake who will vex you, and you will be for booties to them?
Because you have spoiled many nations,
All the remnant of the peoples will spoil you,
Because of men's blood, and for the violence done to the land,
To the city and to all who dwell in it.'
God's first reply to Habakkuk's question had been the need for faith and a faithful response to God by those who believed in him, thus obtaining life. Here is God's second reply as revealed to him, expressed in a taunt song against the king of Babylon. The oppressor will become the oppressed. It is the first of a number of ‘woes'.
Woe to him because he increases what is not his. Compare the description of Babylon as those who possess dwelling places that are not theirs (Habakkuk 1:6). The question must then be ‘how long? How long can God allow this to go on? How long will it be before Babylon is judged?
Woe to him who loads himself with pledges, pledges of tribute and fines and obedience to the gods of Babylon to be paid by the nations. The only final result will be that these people will suddenly creep on him and bite him, like a snake or a wild animal. They will stir themselves up and vex him. They in turn will take booty from him, siding with the Medes and Persians against him. Because he has plundered many nations, and shed masses of blood, and shown violence to their lands, those who are left will get their revenge.
‘To the city and to all who dwell in it.' This probably means cities in general seen as one, but has possibly special reference to what he will do to the city of Jerusalem and those who live in it. He may be God's instrument in chastening and punishing them, but that does not excuse his behaviour towards them.
The overall warning for us is against building up treasures for ourselves on earth. Rather we should build up treasures in Heaven where they are permanent and everlasting (Matthew 6:19-20).