@Jeffrey P. Harrison re: "The "China bomb" was clearly foolish as it would lower the value of their central bank holdings.:

I'm no economist, but isn't that in fact what is happening anyway? And would they not be foolish to continue to hang on to a rapidly depreciating holding? Granted, it may speed up the depreciation, but doing nothing turns them into mere spectators as these holdings become increasingly worthless.

The Canadian dollar has reached parity with the U.S. dollar for the first time since 1976. They are now equal in value. The euro also soared to its highest-ever level against the dollar, trading above $1.40 for the first time since the currency was introduced in 1999.

http://abcnews.go.com/Business/MarketTalk/story?id=3629796&page=1

First it was U.S. homeowners who were stuck with their piggy banks shrinking before their eyes, unable to sell because so many others were in the same boat. Now, holders of U.S. currency (including those same U.S. homeowners and all the rest of our fellow citizens) see its value shrinking before their eyes.

“If the dollar loses value too quickly, it could wreak havoc on the economy and financial markets — driving up interest rates and inflation and slashing Americans’ purchasing power, said Peter Schiff, who heads money management firm Euro Pacific Capital.” The danger, the LA Times warns, is that a Fed rate cut could spark a much faster downward spiral in the currency. “That could occur if lower interest rates on dollar-denominated bonds caused foreign investors to balk at buying more, or encouraged them to sell US securities and invest their money elsewhere in the world. Worse, wholesale flight of foreign money from US bonds could drive up long-term interest rates if the Treasury and other debtors have to pay more to attract investors to their securities.”

http://www.abs-cbnnews.com/storypage.aspx?StoryId=93050

The Fed, in a desperate attempt to prop up a falling house of cards, is actually ensuring higher inflation. And, according to Alan Greenspan, the Fed will have to raise interest rates to double-digit levels in coming years to thwart inflation -- the very inflation they are helping to ignite!

Of course, the latest move by the Fed will do nothing to boost the housing market, which only rose to the levels it did because of the flaky mortgage schemes that are now coming unraveled and the 100% certain expectation on the part of buyers that housing prices would always and forever rise. With housing now in free-fall, I don't see that there's gonna be a big rush to buy a deflating McMansion. Not only that, many of the sources of lending have dried up at the same time as lending standards have tightened -- not that there are any potential buyers who actually have any money, anyway.

And the stock market goes crazy.

As I said, I'm no economist, but somethin' ain't quite right here...

A hearty "G'day!" to you, Master Yoda!

I get the feeling that it's deja vu all over again; with the mass media, Bushco, et al, spinning yarns about an alternate universe -- the one where everything is just peachy -- and here we sit in another forum trying to expose the baloney!

Unfortunately, as with Bush's Iraq disaster, the U.S. financial house of cards must also unravel. I think the government and mainstream media (am I being redundant?) have been operating for so long in such a total B.S. mode that they forgot there is something called "objective reality".

"Weird ugly" describes not only what is to come, but what has been for a number of years now. I'm not sure what it means, but I keep seeing Rod Serling...

I fear that there is something really awful coming at us. Maybe these creeps know something and are only concerned with maintaining an illusion of prosperity until WHAM! Here comes WWIII and everything goes down the toilet and [insert favorite Islamic person/country here] gets blamed for it all.

Of course, it's also possible that they're just idiots.

:)

You seem to be confusing the Catholic Church with a democratic institution. It isn't, nor has it ever pretended to be. You may think excommunicating six American Catholic nuns for following the Army of Mary - or barring women from becoming priests - constitutes "discrimination against women", but it doesn't. These are theological issues. If the Catholic Church is not your (or anyone else's) cup of tea, no one is forcing you to join. No one is forcing anyone to stay, either. There are no armed guards at Mass.

I would suggest that you personally speak with some of the many nuns who presently serve joyfully in that capacity, not because they are bound to it in some legalistic sense or because they aren't "liberated", but because they understand and fully embrace Catholic theology to the point of taking vows. Ask them why they do what they do. Are you perhaps afraid? I dare say you will find many to be your intellectual superior - not that they would club you over the head with that fact.

But I will.

Your writing reveals you to be woefully ignorant of Catholic theology. To attack it as you have done is tantamount to you attacking Einstien's Theory - something else about which I am quite sure you have zero knowledge.

The very definition of the term "missing the point".

...in Mother Teresa's struggle with faith, see:

Pope says Mother Teresa felt "God's silence"

http://www.reuters.com/article/newsOne/idUSL0126531020070901?sp=true

And if anyone is curious as to what is actual Catholic theology on any subject under the sun (as opposed to the many misinterpretations and misrepresentations posted in these pages), here's the source you want to consult:

http://www.scborromeo.org/ccc.htm

Agree with it or disagree with it as you will, but at least do it from a basis of having some actual knowledge of the subject.