14 Matching Annotations
  1. Sep 2020
    1. Hanna Rosin of The Atlantic argues that prosperity theology contributed to the housing bubble that caused the late-2000s financial crisis. She maintains that prosperity churches heavily emphasized home ownership based on reliance on divine financial intervention that led to unwise choices based on actual financial ability.[36]

      This is a fascinating theory. I wonder how well it plays out for evidence?

  2. Aug 2020
  3. Jul 2020
  4. May 2020
  5. Apr 2020
  6. Sep 2019
  7. Jun 2019
    1. To keep recession away, the Federal Reserve lowered the Federal funds rate 11 times - from 6.5% in May 2000 to 1.75% in December 2001 - creating a flood of liquidity in the economy. Cheap money, once out of the bottle, always looks to be taken for a ride. It found easy prey in restless bankers—and even more restless borrowers who had no income, no job and no assets. These subprime borrowers wanted to realize their life's dream of acquiring a home. For them, holding the hands of a willing banker was a new ray of hope. More home loans, more home buyers, more appreciation in home prices. It wasn't long before things started to move just as the cheap money wanted them to.
  8. Apr 2019
  9. Jan 2016