Satire by Tom Reese

 Trump Imposes Tariffs on the Vatican

The 'pope penalty' will also include tariffs on rosaries and medals blessed at the Vatican.

“Why should we import indulgences from the Vatican when we have domestic producers like Paula White who offer products that are much better,” said a White House spokesperson.

Paula White, head of the new White House Faith Office and a proponent of the prosperity Gospel, last month promised seven supernatural blessings for the Easter season to her followers if they sent her $1,000 or more. (While the rest of this column is satire, this particular offer from White is real.)

White’s “seven blessings” was no doubt an effort to cut into the indulgence market that the Holy See has dominated for centuries.

“Our blessings are seven times better than indulgences, which only get you out of Purgatory,” explained Trump, in introducing the Vatican tariffs. “It’s a bigger bang for the buck.”

"Dire Wolves", the Endangered Species List, and Hotel California

Secretary of the Interior, Doug Burgum, posts on X that now that Colossal Biosciences brought back the dire wolf, we don't have to worry about endangered species anymore.  We can just bring them back if we drive them to extinction.  

Okay, it's settled then!  

Well, not quite. Read on, from this article: people.com/trump-administration-says-u-s-endangered-species-list-should-go-extinct-11713720

And continue at the bottom for some thoughts from me.

S & P Downturns in 21st Century

STATISTA: Tariff Crash Among Largest in 21st Century 
 

by Felix Richter,

 Apr 7, 2025

As markets across Asia and Europe went from bad to worse on Monday, Wall Street is bracing for another day of selloffs after President Trump showed no signs of backpedaling in the wake of last week's tariff-induced market turmoil. After European stocks clawed back from steeper losses through the trading day on Monday, the S&P 500 opened at 4,954 points, down 2.4 percent from Friday's close and 12.6 percent from Wednesday's close, the last before Trump's "Liberation Day" announcements. Depending on how the day unfolds, the index could clock the worst three-day loss since the financial crisis, when the S&P 500 plummeted 14 percent over three trading days in October 2008.

Considering the carnage we’ve seen over the last few weeks and since Trump's "Liberation Day" tariff announcement in particular, it’s hard to imagine that the U.S. stock market was at an all-time just six weeks ago. Since February 19, when the S&P 500 closed at 6,144 points, the index has now dropped almost 20 percent, bringing it on the verge of bear market territory, which is commonly defined as a 20-percent drop from an index's latest high.

As the following chart shows, the drop we’ve seen over the past six weeks is already among the larger market downturns of the 21st century, but it’s not yet as deep as the worst crises of the past 25 years. Considering how quickly investors turned sour and how far-reaching the consequences of Trump's latest tariff hikes are, the past three days could just be the beginning of a longer market depression though, as fears of a global recession are already mounting.

While markets are reeling from the tariff panic, President Trump showed no signs of doubt over whether his protectionist push was the right move. The tariffs already in place are "a beautiful thing to behold," he wrote in a Truth Social post late on Sunday. "The United States has a chance to do something that should have been done decades ago," he added Monday morning, saying that "greatness" would be the eventual result.

You will find more infographics at Statista

Mercy in public life

This is my homily for today, the Fifth Sunday of Lent, Cycle C. 

NB: Our parish won't be baptizing any adults during the Easter Vigil this year, so we are doing the Cycle C readings rather than the Cycle A Scrutiny readings.  Those of you who heard the Cycle A readings today heard the story of the raising of Lazarus from the dead.  If, like our parish, you heard the Cycle C readings, today's Gospel is the story of the woman caught in adultery.

Today's readings for both options can be found here.  

Stock Market Confidence in American Leadership

STATISTA: America Last? 

by Felix Richter,

Apr 4, 2025

The U.S. stock market had its worst day since 2020 on Thursday, as investors were trying to digest President Trump’s sweeping tariff announcements from the day before. The surprisingly high additional tariffs – a 10 percent baseline tariff on all imports plus significantly higher rates for countries considered “bad actors” in trade – sent shockwaves around the world, as they threaten to upend the status quo of the global economy in one fell swoop.

Global markets plummeted in the wake of the announcement, as the repercussions of the U.S. turning back time to the early 1900s will be felt everywhere from China to Europe - nowhere more so than in the United States, though. Unsurprisingly, the U.S. stock market was most heavily affected by the “Liberation Day” selloff, as the S&P 500 fell 4.7 percent, the tech-heavy Nasdaq plummeted 6 percent and the Dow Jones lost 4 percent, wiping out $2.5 trillion in market capitalization of U.S.-listed stocks. The so-called Magnificent 7 alone shed more than $800 billion in market cap on Thursday on what has been the worst day for U.S. stocks since the Covid-19 pandemic rattled markets in early 2020.

For now, Trump’s “America First” policies have put the country last - at least in terms of stock market performance. The S&P 500 has dropped 10 percent since Inauguration Day, as the Trump administration’s policies are widely feared to drive up inflation, erode consumer confidence and ultimately cause a recession. When asked about the stock market fallout and the warnings of economists, administration officials keep repeating that Trump’s policies will eventually make America great again and that every American will profit in the long term. People tend to be rather impatient when they see their retirement savings melt like ice cream in the sun, however, which is why it will be interesting to see if and when some of Trump’s supporters will sour on the president and his protectionist policies.

Vatican document on artificial intelligence, "Antiqua et Nova"

There is an interesting discussion on the America Media site of the Vatican document, "Antiqua et Nova", regarding artificial intelligence:

New Vatican document on A.I. warns against ‘creating a substitute for God’ | America Magazine

The article discusses both the immense potential and the ethical and anthropological challenges of AI.

Tariffs and Consumer Confidence

STATISTA: Consumer Confidence Plummets

by Felix Richter,

Mar 31, 2025

Consumer sentiment in the United States fell to the lowest level in more than two years in March, as uncertainty over tariffs, their effect on inflation and the overall economy are clearly weighing on Americans' minds. The latest results from the University of Michigan’s monthly Index of Consumer Sentiment showed a steep decline in consumer confidence for the third consecutive month.

The overall index, which is based on at least 600 telephone interviews per month and focuses on personal finances, business conditions and buying conditions, fell to its lowest level since November 2022 and is now approaching its all-time low recorded in June 2022, when inflation peaked at almost 9 percent. The latest decline was driven by an 18 percent drop in the Index for Consumer Expectations, which is based on two questions looking 12 months ahead and one question looking at the next five years.

“This month’s decline reflects a clear consensus across all demographic and political affiliations," Survey of Consumer Director Joanne Hsu wrote. "Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation. Consumers continue to worry about the potential for pain amid ongoing economic policy developments."

 

You will find more infographics at Statista