Micah 6: what the Lord wants from his chosen people?

8
But he’s already made it plain how to live, what to do,
    what God is looking for in men and women.
It’s quite simple: Do what is fair and just to your neighbor,
    be compassionate and loyal in your love,
And don’t take yourself too seriously—
    take God seriously.

But, although it is easy to understand what the Lord wants, his chosen people sins:

10-13
“Do you expect me to overlook obscene wealth
    you’ve piled up by cheating and fraud?
Do you think I’ll tolerate shady deals
    and shifty scheming?
I’m tired of the violent rich
    bullying their way with bluffs and lies.
I’m fed up. Beginning now, you’re finished.
    You’ll pay for your sins down to your last cent.

The Lord will punish his people.
    
14-16    
No matter how much you get, it will never be enough—
    hollow stomachs, empty hearts.
No matter how hard you work, you’ll have nothing to show for it—
    bankrupt lives, wasted souls.
You’ll plant grass
    but never get a lawn.
You’ll make jelly
    but never spread it on your bread.
You’ll press apples
    but never drink the cider.
You have lived by the standards of your king, Omri,
    the decadent lifestyle of the family of Ahab.
Because you’ve slavishly followed their fashions,
    I’m forcing you into bankruptcy.
Your way of life will be laughed at, a tasteless joke.
    Your lives will be derided as futile and fake.”

In NIV the verse 16 finishes as:

 you will bear the scorn of the nations.

We Christians think of ourselves as the chosen people of the Lord; I myself included. This chapter made me think that the Lord is a great teacher and He will do whatever is necessary to correct his chosen people. May I constantly repent from my sins and turn to the Lord.