The Word Among Us

October 2011 Issue

I Am He Who Comforts You

Finding a Silver Lining in the Great Recession

I Am He Who Comforts You: Finding a Silver Lining in the Great Recession

In his 2006 book, "The Crash Comes", a German economist named Max Otte predicted that the practices of mortgage lending at the time would lead to a financial crash. As he saw it, financial institutions’ habit of approving unsustainable loans would leave a lot of home owners overextended and burdened with debts they could not possibly repay. Otte predicted that the value of the U.S. dollar would fall significantly, triggering a worldwide economic crisis.

Sadly, Otte’s predictions have come true. In the past few years, millions of people have lost their jobs. Home foreclosures are at an...

The full article is available to subscribers only

Access all articles, daily meditations and readings, as well as special resources, by becoming a subscriber. View subscription options.

Special Offer: Two week free web-only trial subscription. Sign up now.

Existing Print & Web-Only Subscribers: Login for full access.

Comments