Atlanta, GA -- Creflo Dollar’s standard of living may drop as US prosperity congregations begin to pay more for thier support of foreign evangelists, say economists.
Although he is extremely debt free, Creflo “The Dollar” has seen a drop in his total wealth compared other major foreign evangelists. Last week, after the Federal Reserve reduced interest rates The Dollar fell even further – now at a level not seen since he received his honorary doctorate from Oral Roberts University in 1998.
Foreign evangelists, such as Canadian Todd “The Loonie” Bentley, have gained tremendous ground – now on par with greenback evangelists for the first time ever. But does a less prestigious portrait of Creflo (on the dollar bill) have any meaning for most prosperity congregations?
Economists say the falling Dollar has pluses and minuses for US prosperity congregations. For those who would like to buy a Rolls-Royce, a Diamond DA-40, or a French chateau for their pastor, it means their standard of living will go down as they pay more money for these foreign goods.
Analyst June Cleveland thinks things may not be so bad for The Dollar. "After the pluses and minuses are all netted out, I think the falling Dollar will be in good shape in the long run. "Foreign prosperity congregations can now spend less of their own currency to purchase The Dollar, helping to cushion the blow of the reduced spending of US congregations."
The last time that the buying power of prosperity preachers was this low was about two decades ago, when the TV ministries were crippled by sex and money scandals in the 1980s. But the major difference was that The Dollar’s predecessors were rebounding from their low point in the mid-1980s when it was easier to make changes in foreign trade because the price of foreign anointing oil was relatively cheap.