XGO
Patron
Scientology and Money
Everyone in the world knows we are in the middle of the worst financial crisis since the Great Depression of the 30s. Scientology is not going to make these
problems disappear, and I posit that they are at great risk, just like the rest of us.
Please see: http://money.cnn.com/galleries/2008...rket_gurus.fortune/index.html?ref=patrick.net
Some of the more notable statements:
- "We are in the middle of a very severe recession that's going to continue through all of 2009 - the worst U.S. recession in the past 50 years"
- "Things are going to be awful for everyday people. U.S. GDP growth is going to be negative through the end of 2009. And the recovery in 2010 and 2011,
if there is one, is going to be so weak - with a growth rate of 1% to 1.5% - that it's going to feel like a recession. I see the unemployment rate
peaking at around 9% by 2010."
- "The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming
out in 2010."
- "It was a year in which every major asset class - stocks, real estate, commodities, even high-yield bonds - suffered significant double-digit percentage
losses, resulting in the destruction of over $30 trillion of paper wealth."
Future returns:
- "Investors need to recognize these titanic shifts in market and public policies and be content with single-digit returns in future years. Perhaps the most
lucrative pockets of value are in high-quality corporate bonds and preferred stocks of banks and financial institutions that have partnered with the
government in programs such as the Troubled Assets Relief Program (TARP). While their profitability may be restricted, their ability to pay interest and
preferred dividends should be unhampered. Above all, stick to high-quality companies and asset classes. The road to recovery will be treacherous."
- "First of all, there's the magnitude of the stock market's move up and down. The real (inflation-corrected) value of the S&P 500 nearly tripled from 1995
to 2000, and by November 2008 was down nearly 60% from its 2000 peak. The only other comparable event was the one in the 1920s where real stock prices more
than tripled from 1924 to 1929 and then fell 80% from 1929 to 1932. Second, we've had the biggest housing bust since the Depression. Third, we've seen 0%
interest rates."
- "But homeowners have now lost $5 trillion, and 12 million families have mortgages in excess of the value of their homes. Therefore the economy will not
stabilize until mortgages are adjusted down to the value of homes, with affordable payment schedules, and until new mortgages become available across the
home-price spectrum. Till then, the poverty effect of falling house prices and unemployment moving up toward 7% will hold consumer spending back from its
former 70% contribution to our economy."
If the org held assets in anything other than Treasury Bonds, they probably suffered a big hit this year. October was particularly brutal. Was Davey clever
enough to predict these problems, and move assets to the "right side." Or did he listen to his "Financial Advisers," and get hammered? Does anyone know
where these assets are kept?
I think we all agree that most Scientology public are middle class. The middle class has been hammered in recent years through 1) taxes, and 2) wealth destruction.
Using the house as an ATM machine is gone forever. The rules for Home Equity Lines of Credit have changed (that is, if you can get a HELOC at all).
If the Scientology public has been paying for services and the IAS with credit cards, they are particularly at risk at this point in time...
Scientology public have been affected by the financial meltdown. Destruction of paper wealth and real estate values has been HUGE. Allot of Public own businesses,
which spin off good profits (must be, to afford Scientology services). It is not news that business profits are way down, and business is "sluggish" to say the least.
Given these factors, who is going to be able to afford higher level services, Ls, and IAS contributions?
You might think that the org will be OK, as they hold real estate assets. But remember, these assets are only worth what someone will pay, if they can be sold
at all. I have read online that "the org" owns allot of real estate (most of it office type buildings). These assets are at great risk (to lose value), as the economy
continues over the cliff.
The financial crisis is not going to be resolved for years (probably decades).
Given the "double squeeze" of wealth destruction of Scientology reserves and real estate, and reduced gross income, what is going to happen to the orgs? What is their plan?
Make it go right? Do you think they will be able to continue as before (after all, they do have free labor.. which will help ALLOT), or will they need to downsize
(as large corporations worldwide are now doing)?
I am curious if the is a high-level ex-staff member that would know about Scientology Assets (particularly SO Reserves). And if anyone knows about the current state of Org operations related
to money, please let us in on that.
The financial mess is going to get worse before it gets better. I recommend you load up on beans, bullets, and band-aids. Good luck out there.
Everyone in the world knows we are in the middle of the worst financial crisis since the Great Depression of the 30s. Scientology is not going to make these
problems disappear, and I posit that they are at great risk, just like the rest of us.
Please see: http://money.cnn.com/galleries/2008...rket_gurus.fortune/index.html?ref=patrick.net
Some of the more notable statements:
- "We are in the middle of a very severe recession that's going to continue through all of 2009 - the worst U.S. recession in the past 50 years"
- "Things are going to be awful for everyday people. U.S. GDP growth is going to be negative through the end of 2009. And the recovery in 2010 and 2011,
if there is one, is going to be so weak - with a growth rate of 1% to 1.5% - that it's going to feel like a recession. I see the unemployment rate
peaking at around 9% by 2010."
- "The value of homes has already fallen 25%. In my view, home prices are going to fall by another 15% before bottoming
out in 2010."
- "It was a year in which every major asset class - stocks, real estate, commodities, even high-yield bonds - suffered significant double-digit percentage
losses, resulting in the destruction of over $30 trillion of paper wealth."
Future returns:
- "Investors need to recognize these titanic shifts in market and public policies and be content with single-digit returns in future years. Perhaps the most
lucrative pockets of value are in high-quality corporate bonds and preferred stocks of banks and financial institutions that have partnered with the
government in programs such as the Troubled Assets Relief Program (TARP). While their profitability may be restricted, their ability to pay interest and
preferred dividends should be unhampered. Above all, stick to high-quality companies and asset classes. The road to recovery will be treacherous."
- "First of all, there's the magnitude of the stock market's move up and down. The real (inflation-corrected) value of the S&P 500 nearly tripled from 1995
to 2000, and by November 2008 was down nearly 60% from its 2000 peak. The only other comparable event was the one in the 1920s where real stock prices more
than tripled from 1924 to 1929 and then fell 80% from 1929 to 1932. Second, we've had the biggest housing bust since the Depression. Third, we've seen 0%
interest rates."
- "But homeowners have now lost $5 trillion, and 12 million families have mortgages in excess of the value of their homes. Therefore the economy will not
stabilize until mortgages are adjusted down to the value of homes, with affordable payment schedules, and until new mortgages become available across the
home-price spectrum. Till then, the poverty effect of falling house prices and unemployment moving up toward 7% will hold consumer spending back from its
former 70% contribution to our economy."
If the org held assets in anything other than Treasury Bonds, they probably suffered a big hit this year. October was particularly brutal. Was Davey clever
enough to predict these problems, and move assets to the "right side." Or did he listen to his "Financial Advisers," and get hammered? Does anyone know
where these assets are kept?
I think we all agree that most Scientology public are middle class. The middle class has been hammered in recent years through 1) taxes, and 2) wealth destruction.
Using the house as an ATM machine is gone forever. The rules for Home Equity Lines of Credit have changed (that is, if you can get a HELOC at all).
If the Scientology public has been paying for services and the IAS with credit cards, they are particularly at risk at this point in time...
Scientology public have been affected by the financial meltdown. Destruction of paper wealth and real estate values has been HUGE. Allot of Public own businesses,
which spin off good profits (must be, to afford Scientology services). It is not news that business profits are way down, and business is "sluggish" to say the least.
Given these factors, who is going to be able to afford higher level services, Ls, and IAS contributions?
You might think that the org will be OK, as they hold real estate assets. But remember, these assets are only worth what someone will pay, if they can be sold
at all. I have read online that "the org" owns allot of real estate (most of it office type buildings). These assets are at great risk (to lose value), as the economy
continues over the cliff.
The financial crisis is not going to be resolved for years (probably decades).
Given the "double squeeze" of wealth destruction of Scientology reserves and real estate, and reduced gross income, what is going to happen to the orgs? What is their plan?
Make it go right? Do you think they will be able to continue as before (after all, they do have free labor.. which will help ALLOT), or will they need to downsize
(as large corporations worldwide are now doing)?
I am curious if the is a high-level ex-staff member that would know about Scientology Assets (particularly SO Reserves). And if anyone knows about the current state of Org operations related
to money, please let us in on that.
The financial mess is going to get worse before it gets better. I recommend you load up on beans, bullets, and band-aids. Good luck out there.