I mean the may 2019 Watchtower.
But it's not about the Money
LTPF, good summary. Yes, the WTS worships their god of Mammon. My husband keeps asking why have KHs at all, why not have everyone hook into a website (or similar) to watch the meetings. I reminded him that "supposedly" the meetings are venues to be encouraged, shown love, and supported. (haha). Also a way to unofficially dun the flock for money, keep an eye on who is slipping away but not for loving reasons.
I came back in 1990 from a period of inactivity, during the time the donation arrangement had been discontinued. Immediately I realized that if the "end" did not come soon the WTS would run out of cash, cash flow. Their assets were tied up in aging buildings. Not many jws or ex-jws agreed looking at the billion asset sheet. But I knew working in budget and facilities management of 11 large government institutions and 18 medium ones, that building was not the issue but it was maintaining the buildings that required a large yearly cash flow. These institutions had a large population of people who worked there but were paid a pittance (think inmates). But they had to be housed, fed, provided health treatment, etc.
Cash flow = a predictable amount of money every month, jws paying cash for publications of all sorts, food at the assemblies/conventions, parking fees, etc. That abruptly ended and it took a few years before the WTS felt the pinch. The economic crash in the US in 2007/2008, hit the WTS hard which invests in stocks and bonds, no income from that, and the value of buildings crashed as well. Another hit to the cash flow.
jws felt that the publications and food were "free" not and did not use the money they saved to give to the WTS. After all, who would know they weren't, it's supposed to be confidential.
Well, it is 29 years later, and my prediction has come true. Despite the $1 billion assets tied up in property, the WTS is cash poor and doesn't know how to recreate the steady monthly flow of cash before 1990. Imagine yourself not having any savings, no job with a monthly paycheck, try to find money to pay your monthly bills, and any unexpected expenses. You could sell your vehicles, your house, any other properties you have but eventually the cash runs out. Without making money on your money and living on that or other income, you are heading for a black hole.
When the contributions dry up without them begging for money which has already happened .
Really they haven't. Congregations in the USA are giving more than ever, and the USA has always shouldered the financial load.
They have cut expenses through a combination of - realizing that literature is not getting the job done - is not as useful as digital - and to much money to sustain. Thus many of the Branches are not needed anymore as well as the slave labor that went in them.
This has had a cascade effect to where other areas have been trimmed.
They sold Brooklyn for 2 billion - are raking in 10 to 20 million in from the new building fund a month, as well as many other streams of income.
They are NOT going broke.
I believe - iwantoutnow. Nothing is impossible re/business but it's unimaginable the cult's business model failing - money for nuthin.
"They're closing & selling their branches, their kingdom & assembly halls.
They’ve taken the donated money set aside to build assembly halls.
They’ve taken all the congregations bank accounts.
They’ve managed to tithe a set amount from congregations, forever.
They’ve laid-off tons of bethelites, missionaries and other workers.
They’ve laid off all district overseers.
They’ve cancelled or delayed nearly all construction.
Printing of publications is at a all time low, as never before in history, yet they tell you things are speeding up.
No more physical releases at conventions. DVD’s, books, brochures? Where are they?"
Like I keep saying whever anyone says that the Org is rolling in dough and in no danger...
...in what crazy-ass fucked-up mirror universe are (all those things you listed above) signs of robust financial health?
lol/VID! Love your opinion - Blondie's too.
Well, we know they have accounts in the Caymans.
Ten bucks says the bulk of the $ is going there as a "rapture" nest-egg.
So they do have lots of money! Hopefully they have to live on Cayman slush fund soon.
LV101 - "it's unimaginable the cult's business model failing - money for nuthin."
I'd be completely inclined to agree with you, except...
...I strongly suspect that said business model is almost completely dependent on the Org's tax-exempt status.
I'm willing to bet another ten bucks that their lawyers have advised them of its impending loss, as a direct result of their stubborn refusal to change their child-abuse-related policies. Remember, the Org itself is gambling harder and harder to take things all the way to the SCOTUS (due to, I suspect, desperation to keep things confidential, whitewashed nostalgia of past successes in the Rutherford era, and their own blind faith in their inherent rightness and divine backing).
If they poke that bear, though, and fail... there's no do-overs.
And don't tell me that religion's tax-exemption is a fully immune "sacred cow" in the US (or anywhere else, really)...
...the IRS legally revokes the charitable status of many organizations - churches included - for legitimate violations, every goddamned year.
In the #metoo era, the public is already primed for the legal system to "make and example" out of someone, and the WTS is an ideal - and, what's more, legitimate - candidate...
...not only because its abuse-related policies really are woefully egregious, but also because - unlike the big religions - the WTS has no "friends in high places" to come to bat for them behind the scenes if they come under fire, and they have virtually no chance in the court of public opinion... no one really likes them or would be inclined to feel sorry for them.
Don't forget; despite the fact that they were technically a "legitimate" religion, sex scandals devasated the Hare Krishnas back in the 90s...
...they still officially exist, but they're a pale, whispery shadow of what they once were.