A Non-Catholic Defends Eucharistic Discipline

If you don’t agree with or abide by the teachings of the Catholic Church, you aren’t Catholic. Clinging to the label when the substance is gone is like cherishing wrapping paper after discarding the gift. 

Read the rest here.

For those in need of a little ecclesial humor...

 There is this.

Pope Francis Restricts Use of Traditional Roman Rite (Tridentine Mass)

Pope Francis has issued a motu proprio, "Traditionis Custodes," which effectively abrogates Pope Benedict XVI's motu proprio "Summorum Pontificum," by which the former pope had  liberated the ancient rite of the Latin Church. The new decree imposes sweeping restrictions on the use of the older liturgical rite and grants local bishops the authority to refuse to any priest the right to celebrate mass according to the old form. All priests must now secure permission to do so including those who have already been using the missal. For priests ordained after the publication of the new motu proprio (that is after today) permission to use the older rite is now reserved to the Apostolic See. 

There is no possible interpretation of this document that does not lead one to conclude it is meant as an attack on conservative Catholics and the sensus fidelium of the Roman Catholic Church as it existed for its first 1900 years or so. That a pope would attempt to effectively suppress the heart of the liturgical patrimony of the Western Church, is quite simply scandalous. What was sacred for most of two millennia is now suspect, and those attached to it are clearly not quite right.

There is no charity or love in this. Only calculated cruelty.

ANAXIOS!

The full test of the motu proprio and the accompanying letter may be found here.

Miami's hot condo market just got very complicated

MIAMI – The tragic collapse of a residential tower spooked South Florida homebuyers and real estate investors alike into reassessing the risk of buying in the Miami-area condo market.

The market had been booming before Covid. Then it soared even higher as the work-from-anywhere culture took hold. But then in late June, scores of people were crushed to death in the Champlain Towers South collapse in Surfside.

Now, the market is focused on engineering inspection reports from older towers, which are required by the state to get recertified every 40 years. Insurers are also under scrutiny, as they hold the keys to new purchases in the market.

“No one in their right mind is going to buy a condo built before 2000 unless they have a safety certificate for the structure of the building, and it doesn’t exist today,” said Peter Zalewski, a South Florida condominium expert, consultant and analyst.

The Miami area has long been a tale of two condominium markets: those built before and after the year 2000, when strict new building codes born of damage from Hurricane Andrew went into effect. Now, after the tower disaster, the divide is suddenly even wider.

“Zoning was upgraded to the point where Miami Dade County zoning is probably some of the toughest in the state or the country, and as a result of that we were able to build again,” said Zalewski. “The thing is people weren’t aware of it prior to Champlain. Now, everybody knows about it, so there’ll be a great divide.”

While condo boards are rushing to send letters of assurance to owners, Zalewski said potential buyers cannot see inspection reports.

“No condo I’ve ever seen, and I’ve been here since 1993, has ever openly shared that information. There is a lack of transparency in the condo market here, by design, it is a sell-side market,” he said. “The condo association might put out the information right now. How did they find these engineers and why haven’t they shared them previously?”

Read the rest here.

I don't think this should be looked at as a purely Florida situation. Anyone looking at buying a condo, anywhere, should exercise their due diligence. Three things to look at for older buildings are the most recent structural integrity survey and how old it is, the current level of cash reserves held by the HOA to cover not just routine but also major repair expenses, and the annual HOA fees. In particular if the seller is unable or unwilling to provide the actual structural inspection report, or if there has not been one within a reasonable period of time, then I'd walk away. In Florida condo associations are not typically required to provide that to prospective buyers and in the past have rarely done so. I don't think that is going to fly anymore. 

Polish Courts Defy European Union Sparking Speculation Over Its Future

Poland's membership of the EU was plunged into uncertainty on Wednesday after its judges defied a European court order to reverse some of its controversial judicial reforms.

Stanisław Piotrowicz, a senior Polish judge, said that interim measures by the EU’s highest court, which ordered Warsaw to suspend the reforms, were “not in line” with the Polish constitution.

The defiant ruling is the first of two verdicts due to be issued this week by Polish judges which appear to question a fundamental requirement of EU membership: that EU law takes precedence over national laws.

The ruling prompted Guy Verhofstadt, a prominent MEP and former chief Brexit coordinator, to warn that Poland’s eurosceptic government was trying to drag the country out of the bloc.

“Against the wishes of the vast majority of Polish people who want an EU future, the populist governing PiS [Law and Justice] party is determined to take Poland out of the EU,” he wrote on Twitter.

“Will anyone act to stop them before it is too late?” he added, and claimed that the rule of law in Poland was breaking down.  

The Polish ruling came after the European Court of Justice [ECJ] issued an interim order for Warsaw to suspend its “disciplinary chamber” of the Supreme Court, which was part of measures to overhaul the Polish legal system.

Under the Polish reforms, which came into effect in February 2020, the disciplinary chamber has powers to strip judges of immunity and cut their salaries. The reforms also prevent judges from referring certain points of law to the ECJ.

Poland’s ruling Law and Justice party, a right-wing populist and eurosceptic movement, has clashed with Brussels for years over the hugely contentious reforms.

Read the rest here. (paywall)

BITCOIN ‘Black Swan’ author Nassim Taleb says bitcoin is worth zero and fails as a currency and a hedge

Nassim Nicholas Taleb has reversed his stance on bitcoin.

The author of “The Black Swan” said in a recent paper that the largest cryptocurrency by market cap has failed to satisfy the notions of it as a currency without government, as a hedge against inflation and as a safe haven investment.

“Few assets in financial history have been more fragile than bitcoin,” he said.

Taleb had previously spoken more favorably on bitcoin, particularly on its potential to help people circumvent capital controls in markets that rely on them to manage their exchange rates. He called it “the first organic currency” in the foreword of “The Bitcoin Standard” in 2018 and “an insurance policy” against government control over currency.

In his recent paper, “Bitcoin, Currencies, and Fragility,” published in late June, Taleb, a probability researcher and former longtime quantitative trader, says bitcoin is worth “exactly zero” partly because it requires a sustained amount of interest to maintain it.

By contrast, “gold and other precious metals are largely maintenance free, do not degrade over an historical horizon, and do not require maintenance to refresh their physical properties over time,” he said.

Read the rest here.

Beating one of my favorite dead horses.

New York's Gilded Age Glory

A look back at some of the lost Gilded Age architecture of New York's upper east side.

The case against indexing

To critics of the $11 trillion passive boom, active management is the original form of ethical investing — and time is running out to save it from the indexing onslaught.

“On a societal basis, it’s potentially disastrous,” says Michael Green, chief strategist at Simplify Asset Management, referring to the passive frenzy. “There’s an impending crisis that requires people to make changes.”

Fifty years since the first fund was created to mimic the moves of an entire market, naysayers fear the industry is now so big it threatens the capitalist social order.

Yes, it lowered costs, brought investing to the masses and improved returns for many. But the dark side according to the critics: It’s funneling money to undeserving businesses, distorting price discovery and intensifying volatility.

“Markets are ultimately not about funding someone else’s retirement but instead about allocating capital efficiently within an economy and creating the signals that encourage investment in the better companies,” says Green.

Read More: ‘Anarchist’ Mac McQuown Started an Index Revolution 50 Years Ago

His fears over the demise of stock picking are shared by a vocal contingent in full knowledge they’re likely fighting a losing battle.

Inigo Fraser Jenkins, head of global quantitative strategy at Sanford C. Bernstein, once declared passive investing to be worse than Marxism. Michael Burry of “The Big Short” fame tweeted that “passive investing’s IQ drain” is fueling a stock bubble. Yves Choueifaty, a Frenchman known for his $10 billion “anti-benchmark” strategies, once called it “completely toxic.”

Read the rest here.

FTR I'm not buying it. Whatever downsides there may be to indexing are completely outweighed by its advantages.

Use of Latin is severely limited in St. Peter's Basilica

VATICAN CITY, June 30, 2021 (LifeSiteNews) — The Vatican has moved to ban Latin, the traditional language of the Catholic Church, from the celebration of most Masses in St. Peter’s Basilica.

The traditional blog MessainLatino.it broke the news and posted a picture of a note sent by Msgr. Franco Camaldo, who wrote on behalf of the Cardinal Archpriest of the Vatican, Cardinal Mauro Gambetti, O.F.M., who was appointed by Pope Francis earlier this year.

Camaldo wrote that the new rules coming into force are the result of the June 9 Vatican Chapter meeting and were based on what was “proposed” at the meeting, combined with “mature reflection.”

As of June 29, wrote Camaldo, the Eucharistic celebrations would follow the procedure already in use in “papal celebrations.” That is to say Mass would be celebrated only in “Italian,” with the readings and prayers of the faithful permitted to be said in “various modern languages.”

Latin would only be permitted in the “fixed parts” of the Mass, the “Kyrie, Gloria, Sanctus, Pater and Agnus.”

The new rules will apply to the recitation of the Liturgy of the Hours, as well, as the note states that such recitation “may also be celebrated in Italian,” although keeping the Gregorian melody. Some Latin will be retained, but only for the “Hymn, Antiphon, Benedictus, Magnificat and Pater.”

Read the rest here.

Vacation

I am currently on vacation with the family and am trying to limit my time online. Please bear with me if responses to emails and/or comment approval takes a little longer than normal. 

Russian Orthodox Church Opposes Abortion in All Circumstances

Human life has an absolute value and rape is not grounds for abortion. That’s according to the Russian Orthodox Church, which revealed that the institution’s official stance is that termination of pregnancy can never be justified.

Speaking to TV channel Russia 24, Metropolitan Hilarion, the Moscow Patriarchate’s official spokesman, said the circumstances of conception are not a good reason to terminate a pregnancy.

“The church’s opinion is that even if a girl gets pregnant as a result of rape, this is not a reason to have an abortion,” he said.

The Metropolitan also claimed that clergymen have experience working with rape victims who decided to keep a child, and “the child subsequently brought them happiness.”

“An unborn baby is still already a baby. It is a person. It is a living being. Every such person has the right to be born,” he said.

The Orthodox Church has long been opposed to abortion and has even supported proposals to include abortions in mortality statistics. It has also suggested granting human rights to embryos.

The leader of the Russian Church, Patriarch Kirill, once compared abortion to the death penalty, urging women who are not ready to raise children to turn them over to the church instead.

Read the rest here.

The NY Times asks why police are quitting in droves (really)

Just the latest sign that the left is starting to worry about the effects, political and otherwise, of the harsh anti-police rhetoric emanating from their more strident members. With rising crime and civil disorder there are increasing fears of a backlash at the polls against Democrats. 

Read it here.

Rudy Giuliani is suspended from practicing law

Rudy Giuliani has been suspended with immediate effect from the practice of law in New York State for making false and misleading statements about the general election while representing then President Donald Trump. 

Read the court order here. 

Seven Greek Orthodox bishops injured in acid attack by priest

Seven bishops from the Greek Orthodox Church have been hurt in an acid attack by a priest undergoing a disciplinary hearing in Athens, police said.

Three of the bishops were still in hospital following the attack late on Wednesday, while a police officer who was at the scene was also being treated, police added. Local media in Greece reported that those attacked had suffered burns, mostly on their faces.

The suspect, a priest who risked being expelled from the church, was accused of being involved in drug trafficking, according to the ANA press agency.

Katerina Sakellaropoulou, the president of Greece, condemned the attack, while Kyriakos Mitsotakis, the prime minister, spoke to the head of the Greek church, Ieronymos II, the archbishop of Athens.

Mitsotakis said he was deeply sad and assured the bishop that the state would “offer all possible medical assistance for the victims’ speedy recovery”.

Source.

Supreme Court Backs Catholic Foster Care Agency in Gay Rights Case

WASHINGTON (AP) — The Supreme Court on Thursday unanimously sided with a Catholic foster care agency that says its religious views prevent it from working with same-sex couples as foster parents. The justices said the city of Philadelphia wrongly limited its relationship with the group as a result of the agency’s policy.

Philadelphia violated the Constitution in limiting its work with the agency, Catholic Social Services, the court said.

“The refusal of Philadelphia to contract with CSS for the provision of foster care services unless it agrees to certify same-sex couples as foster parents cannot survive strict scrutiny, and violates the First Amendment,” Chief Justice John Roberts wrote.

Roberts said that the group “seeks only an accommodation that will allow it to continue serving the children of Philadelphia in a manner consistent with its religious beliefs; it does not seek to impose those beliefs on anyone else.”

Catholic Social Services is affiliated with the Archdiocese of Philadelphia.

Read the rest here.

FTR I fully expected the court to back the Catholic Church. I did not expect the decision to be unanimous. It may be worth noting that there have been quite a few unanimous, or nearly so, decisions coming out of the court of late. I suspect the justices may be sending a subtle message to those talkig about court packing. 

Two Cheers For The New Navalism

At the end of the 19th century, the United States was gripped by a sudden enthusiasm for sea power. The immediate impetus was literary in nature—in one of the most massively influential works of military strategy ever published, American naval officer Alfred Thayer Mahan developed a view of history which linked the fortunes of states to their command of the seas. Applied to his own country—then in what Mahan considered “a period of commercial and naval decadence”—this theory suggested the United States needed to seriously build up its maritime power, or risk losing out to rivals who did. His calls were taken seriously by “navalist” statesmen like Theodore Roosevelt and Henry Cabot Lodge, who eagerly set about turning what had been a moldering collection of Civil War relics into one of the world’s premier battlefleets. 

Fast forward to 2021, and a similar anxiety about the state of America’s navy is playing out among a growing coterie of legislators, national security officials, and defense commentators. Like their turn-of-the-century forebears, today’s navalists see maritime dominance as critical to national power, and worry the country is being outclassed by its competitors. They note with alarm China’s rapidly expanding naval capabilities: Last year, Beijing acquired, in terms of sheer numbers, the largest fleet on the planet, even as the U.S. plans to cut its own shipbuilding budget. The geographic arena of Sino-American competition is also adduced to bolster the case; clearly ships, submarines, and naval aircraft will play a more important role in the Western Pacific than tanks and infantry. 

For adherents of this view, the obvious prescription is to boost investment in maritime capabilities—and that is exactly what they have been pushing for. Some have advocated for diverting money from other areas. “You can’t get to where you need to be if you just continue to cut the pie one-third, one-third, one-third,” the chair of the House Seapower Subcommittee argued earlier this year, “the Navy’s share of resources have to grow.” Others have been blunter:  “We need more money” was the message the Chief of Naval Operations offered in January. All agree, as a recent cover piece for National Review put it, that the demands of great power competition mean “America must become a sea power again.”

Although skeptics will understandably wince at the invocation of what is already a hoary national security cliché, an explicitly navalist strategy does have considerable attractions. China, despite the frequent exaggerations of some foreign policy circles, is still America’s number one geopolitical challenge. It is the only country which even approaches peer status, and the only serious alternative hegemon on offer. So, if the U.S. is going to maintain a serious military, it makes sense to tool it for an actual threat, rather than the counter-insurgency phantoms the Pentagon has chased for the last two decades. This is especially true when one considers the importance of commercial sea lanes, which—since they account for 80 percent of global trade—Washington is interested in keeping open and safe.

Moreover, prioritizing the Navy at the expense of other services can act as a check on strategic adventurism. For a country like the United States, which lacks serious threats from its neighbors, strong ground forces are almost inherently expeditionary; their very existence, in addition to being rather expensive, can create a strong temptation to use. A powerful navy, on the other hand, can serve a more naturally defensive purpose, guarding potential avenues of attack and patrolling commercial sea lanes without posing an overtly offensive threat (although of course there are exceptions to this general rule—recall the recent use of submarines in launching missile strikes against Syria). It is for this reason that enthusiasts for what is now termed “foreign policy restraint” have long held navalist sympathies: “From Cromwell to Cobden,” as one 19th century newspaper proclaimed, “good radicals have ever insisted on an all-powerful navy.” 

Read the rest here.

Hungary bans the promotion of homosexuality in schools- effects seen as far reaching

Viktor Orbán stepped up his war on LGBT rights on Tuesday as Hungary’s parliament passed legislation banning the promotion of homosexuality in schools.

Mr Orbán's government claimed that the latest in a string of anti-gay measures was aimed at protecting children and fighting paedophilia.

The bill outlaws LGBT people from featuring in educational material or TV shows for the under-18s. It means that films featuring gay character or seen as promoting homosexuality could only be shown at night with an 18-plus certificate.

Movies that could be affected include Bridget Jones's Diary, the Harry Potter films and Billy Elliot, broadcaster RTL Klub Hungary said.

Companies would also be forbidden from running adverts showing support for the LGBT community if the commercials are thought to target under-18s. More than 5,000 people protested outside Hungary’s parliament as it passed the amendments.

Read the rest here.

The liberal argument against NATO

Read it here.

I have had decidedly mixed views of NATO post Cold War and the author makes some solid points here. But it is also dangerous to think that history stopped in 1991 and that NATO is the bad guy in the world today. Both China and Russia represent serious threats to their neighbors and the broader international community. Contrary to shop worn clichés, history rarely repeats itself. But it does contain warnings. Allowing bullies to push people around indefinitely usually ends badly for everybody. 

The Vatican Warns US Bishops Against Denying Communion Over Abortion

Details.

In Congress a Bipartisan Push to Rein in Big Tech

House lawmakers proposed a raft of bipartisan legislation aimed at reining in the country’s biggest tech companies, including a bill that seeks to make Amazon.com Inc. and other large corporations effectively split in two or shed their private-label products.

The bills, announced Friday, amount to the biggest congressional broadside yet on a handful of technology companies—including Alphabet Inc.’s Google, Apple Inc. and Facebook Inc. as well as Amazon —whose size and power have drawn growing scrutiny from lawmakers and regulators in the U.S. and Europe.

If the bills become law—a prospect that faces significant hurdles—they could substantially alter the most richly valued companies in America and reshape an industry that has extended its impact into nearly every facet of work and life.

One of the proposed measures, titled the Ending Platform Monopolies Act, seeks to require structural separation of Amazon and other big technology companies to break up their businesses. It would make it unlawful for a covered online platform to own a business that “utilizes the covered platform for the sale or provision of products or services” or that sells services as a condition for access to the platform. The platform company also couldn’t own businesses that create conflicts of interest, such as by creating the “incentive and ability” for the platform to advantage its own products over competitors.

A separate bill takes a different approach to target platforms’ self-preferencing. It would bar platforms from conduct that “advantages the covered platform operator’s own products, services, or lines of business over those of another business user,” or that excludes or disadvantages other businesses.

The proposed legislation would need to be passed by the Democratic-controlled House as well as the Senate, where it would likely also need substantial Republican support.

Each of the bills has both Republicans and Democrats signed onto it, with more expected to join, congressional aides said. Seven Republicans are backing the bills, with a different group of three signing on to each measure, according to a person familiar with the situation.

“Unregulated tech monopolies have too much power over our economy,” said Rep. David Cicilline (D., R.I.), the top Democrat on the House Antitrust Subcommittee. “They are in a unique position to pick winners and losers, destroy small businesses, raise prices on consumers, and put folks out of work. Our agenda will level the playing field.”

Rep. Ken Buck (R., Col.), the panel’s top Republican, said he supports the bill because it “breaks up Big Tech’s monopoly power to control what Americans see and say online, and fosters an online market that encourages innovation.”

Read the rest here.

Anti-trust laws have largely fallen into a coma over the last forty or so years and the new tech economy urgently needs some regulation. I haven't read any of these bills, but in principle I support doing something to check the dangerous level of power these monster companies now wield. The fact that both parties, that otherwise can't seem able to agree on what time their committees should take a bathroom break, seem to be moving in the same direction here, is encouraging.