WHAT DID OBAMA INHERIT FROM BUSH, : GAS THAT WAS $1.70 PER GALLON; UNEMPLOYMENT THAT WAS AT ABOUT 4 PERCENT; AAA CREDIT RATING; A TIME WHEN WE WERE LEADING THE WORLD'S ECONOMIES; THE 'EVIL' BUSH DAYS SURE WERE GREAT, WEREN'T THEY?
The intellectual chaos is really something, isn't it?
Rorate Caeli has a must read citation from Pius XI's Quadragesimo Anno with some noteworthy economic observations.
Venerable Brethren and Beloved Children, see and deplore: Free competition has destroyed itself; economic dictatorship has supplanted the free market; unbridled ambition for power has likewise succeeded greed for gain; all economic life has become tragically hard, inexorable, and cruel. To these are to be added the grave evils that have resulted from an intermingling and shameful confusion of the functions and duties of public authority with those of the economic sphere - such as, one of the worst, the virtual degradation of the majesty of the State, which although it ought to sit on high like a queen and supreme arbitress, free from all partiality and intent upon the one common good and justice, is become a slave, surrendered and delivered to the passions and greed of men. And as to international relations, two different streams have issued from the one fountain-head: On the one hand, economic nationalism or even economic imperialism; on the other, a no less deadly and accursed internationalism of finance or international imperialism whose country is where profit is.
It isn't just the secular world that has fallen into economic dictatorships, imperialism is in full bloom at our local parishes and Chanceries. That's the kicker.
"Wherefore," to use the words of Our Predecessor, "if human society is to be healed, only a return to Christian life and institutions will heal it." For this alone can provide effective remedy for that excessive care for passing things that is the origin of all vices; and this alone can draw away men's eyes, fascinated by and wholly fixed on the changing things of the world, and raise them toward Heaven. Who would deny that human society is in most urgent need of this cure now?
Minds of all, it is true, are affected almost solely by temporal upheavals, disasters, and calamities. But if we examine things critically with Christian eyes, as we should, what are all these compared with the loss of souls? Yet it is not rash by any means to say that the whole scheme of social and economic life is now such as to put in the way of vast numbers of mankind most serious obstacles which prevent them from caring for the one thing necessary; namely, their eternal salvation.
Go forth and multiply.