Europe is a mess. The ongoing economic crisis has sparked violent riots and growing turmoil, particularly in harder-hit nations like Greece, where demonstrators have taken to throwing home-made bombs at police. And the worst may be yet to come. Analysts now say there is a real chance that the Greek government will default on its … Read more
The U.S. Treasury announced on its website that, at year end, the national debt topped $14 trillion for the first time. This was an increase from $13 trillion on June 1, 2010, and $12 trillion at year end 2009. When the recession officially began in December 2007, U.S. debt to Gross Domestic Product was about … Read more
The Jesuit CEO of UCA News says that the Catholic understanding of transbustantiation is no longer tenable in our “post-Newtonian world of quantum physics.” Physicist Stephen Barr begs to differ: [O]ne can explain the doctrine of transubstantiation and distinguish it from other beliefs about the Eucharist without any use of the Aristotelian apparatus. I don’t … Read more
“So what do you do?” I’m asked over drinks at a recent party. Â I mentally flip through a list of possible responses. I hesitate, considering my interrogator. I think I remember someone mentioning he works as a neurosurgeon. Â He performs brain surgery. I wipe little bottoms. Â So here’s my quandary: Do I … Read more
On a recent overseas trip, I read most of Andrew Sorkin’s Too Big to Fail. Despite its length, the book is a page-turner and is worth reading to understand the background of the financial crisis. The more I read, the more it became clear to me that the crisis was not just about bad banking and … Read more