Credit Ratings Are Propaganda

This fact forms a wonderful little acronym that may serve us well to remember.  I remember visiting a budding mega-church back in the late 70's that may have very will been the birth place of the prosperity gospel.  A financial advisor was actually given the Sunday pulpit to "teach" the congregation.  He shared how he had come into his vast wealth through real estate investment.  He outlined his business plan of using one property as collateral for the next purchase, until he had amassed property valued at hundreds of thousands of dollars, over three quarters of a million, which was certainly nothing to sneeze at in 70's . . .  His words regarding net worth still ring in my memory these thirty-five years later.  He said, you are worth as much as you owe, because investors wouldn't lend it, if you weren't.

He carefully detailed the fact that investors and bankers do not just hand money out on a whim.  The borrower has to be considered "good for it" and the property has to be "worth it."  So, his summation was, if he could obtain loans totalling a million dollars, he was a millionaire . . . and that deal was in the works, set to close soon!   I didn't even understand what it was to follow Messiah at that time, but every time I've heard prosperity teachings, I think of this man.  Joshua 1:8 explains the plan of prosperity, and it isn't based upon debt.  This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do according to all that is written therein: for then thou shalt make thy way prosperous, and then thou shalt have good success.

I never saw debt as wealth, and I'm not saying mortgages and car payments are evil.  Torah doesn't say that borrowing is a sin, but borrowing is certainly not cast in the light of wealth.  You are not worth what you owe to the bank!   Although we can make financial investments that seem sound, absolutely nothing on earth is a sure thing.  The ability to obtain debt as a sign of accomplishment is programming, pure and simple.

Credit Ratings Are Propaganda that have led many to a life in the red.