Remember that song from the musical Cabaret, “Money makes the world go round?” Well, it’s certainly true. Certain politicians seeking to stay in office as well as those who want to be elected point to the stock market, albeit from different perspectives. Tech giants pushing AI account for the sharp rise in Nasdaq stocks, but the money made belongs to very few, certainly not to those of us struggling with high prices, promising to get even higher, largely due to the President’s war in Iran.
The President, after touting how he has “made peace” in at least eight conflicts, then went on to defend his war in Iran, ignoring its increase not just to our cost of living but to the rest of the world as fertilizer and grains as well as oil cannot get past the Iranian blockade.
But we are told we need not worry while the rich get richer and people struggling are losing their medical insurance. In the meantime, private capital is investing in creating larger marinas to manage the larger yachts, some the size of the White House ballroom – oops! – I meant to say “national security center.” Sure a far cry from old fishing boats.
Prayer for the Day
As prices climb higher and higher leaving us in the dust,
We cry to you, O Lord, for respite from unbridled greed;
As we see the wealthy flaunting their ill-gotten gains,
We wonder, O God, how long the rest of us suffer.
Deliver us, O God, from those who use their position and power,
Only to amass wealth and influence for more.
In the name of the One who overturned the tables,
Even Christ Jesus our Lord, Amen.
Thoughts for the Day
There are two days in history like today, when the S&P 500 rallied at least 1% to within 1% of a new high, and more of its stocks fell to new lows than highs. July 23, 1929, and December 21, 1999 [right before the dot com collapse]
Jason Goepfert, from Sentimen Trader
Throwing three quarters of a million people into this bucket of ‘Your coverage is canceled’ and then having to figure it out later is a big concern.
Jason Levitis, senior fellow at the Urban Institute
For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith.
1 Timothy 6:10