dow jones industrial
On Monday the Dow Jones industrial average fell 634.76 points; the sixth-worst point decline for the Dow in the last 112 years and the worst drop since December 2008. Every stock in the Standard and Poor's 500 index declined.
It is easy to blame bipartisan bickering for the impasse that led to Standard and Poor's downgrading of the American debt, and in turn the vertiginous fall of the Dow. This bickering -- this substitution of ideology for reason, of egotism for compassion and responsibility on the part of lawmakers -- is a national disgrace; but while it failed to fix the problem, we must realize that it did not cause it. The cause -- and potential for a significant renewal -- lies much deeper.
So let's allow ourselves to ask a fundamental question: what's an economy for?
They say at some point in their lives great leaders experience a "dark night of the soul," or a period in life when your feet, knees, and face scrape and stick to the proverbial bottom." It is a time when even your soul feels forsaken. Ultimately, the dark night is not about the suffering that is inflicted from outside oneself, even though that could trigger it. It is about the existential suffering rooted from within. St. John of the Cross, the 16th century Carmelite priest, described it as a confrontation, or a healing and process of purification of what lies within on the journey toward union with God.
"Whenever you face trials of any kind," explained the apostle James, "consider it nothing but joy, because you know that the testing of your faith produces endurance; and let endurance have its full effect, so that you may be mature and complete, lacking in nothing." (James 1:2-4)