I have literally found at least a dozen references in articles to the ‘Prosperity Gospel’ as actually one of the factors in the economic downturn, particularly the mortgage crisis. The main article that everyone is quoting is from Time Magizine online: "Maybe We Should Blame God for the Subprime Mess", by David Van Biema. Here is how it starts out:
Has the so-called Prosperity gospel turned its followers into some of the most willing participants — and hence, victims — of the current financial crisis? That’s what a scholar of the fast-growing brand of Pentecostal Christianity believes. While researching a book on black televangelism, says Jonathan Walton, a religion professor at the University of California at Riverside, he realized that Prosperity’s central promise — that God will "make a way" for poor people to enjoy the better things in life — had developed an additional, dangerous expression during the subprime-lending boom. Walton says that this encouraged congregants who got dicey mortgages to believe "God caused the bank to ignore my credit score and blessed me with my first house." The results, he says, "were disastrous, because they pretty much turned parishioners into prey for greedy brokers."
J. Lee Grady, editor of Charisma magazine was also quoted in the Time article:
"It definitely goes on, that a preacher might say, ‘If you give this offering, God will give you a house.’ And if they did get the house, people did think that it was an answer to prayer, when in fact it was really bad banking policy."
Dr. Albert Mohler also quoted this article and responded with some thoughts of his own- "Are We Promised Prosperity?"
Response: So there you have it folks—‘Prosperity’ Charismatics and Pentecostals may have triggered the downturn along with greedy brokers and manipulating bankers? *Top
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