Thursday, January 30, 2020

Papal Notes- The Economy of Francesco

Sounds like the same old Marxism and attempt at Wealth Redistribution....instead of job creation more Welfare....that what it sounds like....
 
"When Mr. Fernández, who was sworn in as president in December, meets the pope at the Vatican on Friday, they are expected to discuss a recurrent problem: how to save Argentina from another debt default.
The president hopes to kick off his relationship with the Pope with the right foot, even despite his pledge to push for the legalization of abortion. In his first six weeks in office, Mr. Fernández has used the term “solidarity” to define his government’s incipient economic program. This concept, one of the pillars of the Roman Catholic Church’s Social Doctrine, is highlighted by the pope in pastoral speeches and Vatican documents, including those that talk about economics.


For Mr. Fernández, so far, solidarity has meant asking wealthy Argentines to pay more taxes, in part to finance an emergency food program to alleviate extreme poverty.
The pope, meanwhile, is increasingly placing the global economy at the top of his agenda.
In March he will host young economists and activists in Assisi, Italy, at an event called “The Economy of Francesco,” named for the 12th-century St. Francis but also, indirectly, for himself. Francis says that the event will seek to promote “a different kind of economy: one that brings life not death, one that is inclusive and not exclusive.”
The Assisi event coincides with the March 31 deadline Mr. Fernández has imposed on himself to complete the country’s thorny negotiations with its creditors.


In their quest, the pope and Mr. Fernández share a link in academia: Joseph Stiglitz, the Columbia economist and Nobel laureate who has for years theorized about how to improve sovereign debt negotiation. Last May, Mr. Stiglitz and the pope discussed ways to “create new economic thinking” for a “social economy.”
A young research assistant for Mr. Stiglitz, an Argentine named Martín Guzmán, also attended that meeting. In 2016, Mr. Stiglitz and Mr. Guzmán were among the authors of a book called “Too Little, Too Late,” which proposed a new framework for sovereign
debt restructuring. Mr. Guzmán is now Mr. Fernández’s economy minister and has the difficult task of selling solidarity to the country’s bondholders and the I.M.F."
NYT
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Revelation 13:16,17