How has 3 years of inflation affected WTC?

by ThomasMore 17 Replies latest social current

  • NotFormer

    ThomasMore: "These days that date gets more expensive every year"

    The law of diminishing returns. This is one business where the longer they're in business can be seen as a liability.

  • LongHairGal


    Inflation and the cost of food has to be affecting the religion.

    I have seen for quite a while how eating out has gone up in addition to how groceries have gone up!.. I went to a breakfast place yesterday to get an outgoing order and it cost $20… Whereas I remember going to a diner within the last decade where I would have paid around $14 for the same thing.

  • DesirousOfChange

    If times are so "hard", explain how they keep building additional Starbucks and people continue paying $8.00(US) for a cup of (fancy) coffee when a pound of coffee at the market is $3.50 (cheap) to $10.00 (stupid expensive)?

    Or, how long do you have to wait to be seated in a moderate restaurant on a Friday or Saturday night?

    Everyone I know is planning a cruise or taking an international vacation (usually Cancun but many are going to Europe, esp Italy seems to be popular).

    A "blue collar" union journeyman (carpenter, equip operator, iron worker, plumber) is earning over $40/hr, plus gets free health care (paid by the employer) for the entire family, and has a pension plan (paid for by the employer) that will pay them full pay when they retire at 60yo (or sooner).

    Yet I assure you all of these people are complaining about inflation and the cost of gasoline ($3.50/US gal) and the high cost of groceries. Yet, they are buying new SUVs that cost $50,000-$60,000 that get 20 MPG.

  • ThomasMore

    I listened to an economist who said that inflation has no effect or a great effect depending on what and how we shop. I am not in the car buying market so pricey new cars have no effect on me. However, my grocery bill is approx $300 a month more than it was 3 years ago. Eating out totals $200 a month more now. I keep a detailed budget and can see the increase in all expenses over time. LHG is spot on.

    My records tell me that inflation in some categories is well over 20%, while it is flat in a few others. Gas has peaks and valleys but overall is higher.

    All of the increased costs affect Bethel. Some costs get passed on to the congs but Bethel has to absorb all food costs and internal vehicle costs and gas and maintenance supplies and construction supplies and more. They don’t pay tax but never did so they feel no relief from their charitable status - they have always had it.

    Non-profits with large unpaid staffs get hit hard by inflation and have no one to pass the extra costs onto. Donations in JWland are decreasing so they have few avenues to absorb the expense. I still believe that their planned projects are on hold because of inflation and donation shortfalls. In the past, even projects they planned to cancel were talked up to increase donations.

  • Journeyman

    I have been thinking for some time that the trend of the Org away from having their own self-sufficient resources to using "worldy" organisations seems to run counter to their supposed preparation for the end of "this system", and the idea of being separate from "the world" as much as possible.

    In recent years, they've largely given up their own farms, their own vehicle fleets, and so on, in favour of using worldly companies and suppliers. As a result, they are now much more at the mercy of inflation and changes in markets and world trade or politics.

    We know, of course, that it was driven by their own short-term financial view, shedding "costs" as much as possible now, but without thinking of the future - especially if you really do believe "the system" is going to go into collapse.

    Just like those nutty survivalists who stockpile food, fuel, guns and so on for some anticipated "showdown" with the authorities in the future, while the expectation may seen crazy, there is at least some logic to the principle of stockpiling necessities for self-sufficiency. Then, when times get hard, you have more to share and live off.

    As a result, are they becoming like the "foolish virgins" of the parable who, when the time came for them to be ready to meet the Groom, had no oil for their lamps and so got caught out? Their concern over saving money and trying to shed assets so that courts and governments can't strip them, is likely to leave them "naked" both spiritually and materially in future.

  • Vidiot

    Well said.

    The way I see it, virtually every poor decision they’ve made in the past half-century has been, for all intents and purposes, anchored on the assumption that they were right and the world was buggered sooner rather than later (among other things).

    To do anything less would be to display a lack of faith, but more importantly, it would be acknowledging that they have, in fact, been wrong.

    That is something they simply cannot do (except in only the most passive-aggressive manner possible) for all kinds of reasons…


    the longer they keep being wrong whilst basing major decisions on the flawed assumption that they’re actually right, the more those poor decisions cannot help but compound in interest…

    …and here we are watching the present shitshow.

  • DesirousOfChange

    Yes, inflation is up, but so are interest rates. If you owe money (credit cards, for example), it costing you more, but if you are investing money (remember WT is sitting on BILLION$) it's much more certain to get higher returns on your endowment.

    I do not for one minute think WTS is broke. I think that is the appearance they want to spin for multiple reasons.

    1) They cry "poor mouth" in an attempt to generate more revenue/donations from members. (God needs your money!)

    2) They want the appearance of being short on funds to limit the damages they could suffer from further lawsuits. I suspect they have been busy "hiding" their money to keep it from the lawyers who are suing them.

  • blondie

    In 2008 when the bottom dropped all over, the WTS was affected as well due to their investments in the market (yes, yes). Also the value of their property dropped a lot so they could not sell and take a loss. A lot of the WTS assets, is tied up in property, not cash. I could see more selling of KHs and land, especially those on prime property which has been happening for some time.

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