Tulsa-Smith:- emotional...: Wall Street climbing the wall or just stonewalling?

Monday, August 13, 2007

Wall Street climbing the wall or just stonewalling?

Turbulent markets and stock price volatility are not strange bed fellows, at least, historically speaking.

Two weeks of uncertainty have left Wall Street looking up to the Federal Reserve Bank system for a viable rescue plan.

Otherwise, all Stock Exchange market indices would keep dropping as more and more shareholders dump their stocks for cash-in-hand use.

So, all eyes are on the Fed right now:

[....Waxing and waning worries about a shrinking availability of credit have sent stocks gyrating, with the Dow Jones industrials swinging by triple digits four straight days last week.

On Friday, the Dow plunged more than 280 points after Bear Stearns Cos.’ chief financial officer described the current turmoil in the credit market as being the worst he’d seen in 22 years; on other days news of mortgage lenders’ problems or disappointing housing data provided the impetus to sell.

The Fed’s Open Market Committee’s regularly scheduled August meeting on Tuesday might be key in whether the markets can settle down or not.

The Fed is widely expected to keep the benchmark rate steady at 5.25 percent, as it has done since last summer, so the focus will as usual be on its economic policy statement....]

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Greenville, Rhode Island bakery owned by the Cavanagh family, which uses the plant to produce church communion bread from just water and bread. That business is known to produce about 850 million sacramental wafers annually and to supply 80% of the Holy Communion bread used in American, Australian, Canadian, and British churches. The only middlemen in the supply chain are nuns living in convents! Now they want to expand to West Africa with their Christian sacramental ware for Pentecostal, Catholic, 'New Wave', and Orthodox church offerings. I make reference to the so-called New Wave churches - my term for those churches that broke away from the orthodoxy of the Protestant fold, just as the latter roke off from the Catholic church by virtue of the exploits of Martin Luther centuries ago. Many new-wave and other church goers in the generally undeveloped West African subregion of Africa pay more to religious organizations in monthly tithes and offerings than they do to their government in personal income and value added taxes. Now, that last fact is quite interesting because it is an admission that a bakery in Rhode Island has seen a huge market in the center of Black Africa for small white perfectly laminated and non-crumbly holy wheat bread, reportedly costing "less than a penny" apiece, for the use of both the bible-reading and the bible-believing religious organizations. However, the picture from the Cavanagh's factory floor speaks volumes, in my own opinion, about the need for the company to watch its business ethics and to treat all customers equally irrespective of location, creed, or other discriminatory demographic information or criteria. So, I just hope and pray that the wafers falling off the conveyor belt and by the way side are not destined for West Africa and that the actual wafers delivered will be wheat bread and water, and not just glutamate-free bread and 'pure' water, if you get my point, even if so requested by some shady, greedy, and unethical businessmen over in West Africa. Posted by Okonkwo O. Awa on Sunday, December 28, 2008.

In the summer of 2007, Pope Benedict XVI (BXVI) encouraged The Church to reach out to young people using new technologies, as he himself learned to send out cellphone text messages to the faithful. So in obedience, a tech savvy evangelizing Catholic priest got some help from a Web designer in order to write all the daily books of prayers into a low-cost computer software application downloadable onto the iPhone. Rev. Paolo Padrini's iTunes prayer book was officially approved by The Vatican's Pontifical Council for Social Communications in December 2008. Of course, all proceeds from the electronic prayer book venture will go to charity. Speaking of charitable behavior, The Holy See has seen it fit after 400 years to honor Galileo Galilei in 2009 as the "patron" of the non-mutual exclusivity of the faith versus reason dichotomy. That is very appropriate in this age of new technology, even though The Church still smarts from its error of judgment in calling the famous astronomer a heretic after he publicly embarrassed The Church by reporting that his scientific observations in Astronomy with his unique telescope had led him inexorably to believe that the Earth actually revolved around the sun, in direct opposition to the teaching of The Church at the time that Planet Earth was the center of the universe. In seeking to paint the Church in a new light of worldly knowledge by distancing itself from a past of imbibing pure dogma, The Vatican may have ventured to cross the final frontier and boundary between Science and Christianity by acknowledging recently that there could be life on planets other than the Earth! Posted by O. O. Awa on Wednesday, December 24, 2008.