No Joke ~ Pope Resigns and Lightning Strikes the Vatican

Photo Credit: AFP
Today something unprecedented happened: a Pope decided to quit the Vatican BEFORE his death. The last time this occurred was 700 years ago, so yeah, this is a big deal for the Catholic Church. The world reacted with shock at the news, but we have to hope this is a chance for the church to choose someone different, not just an old white European guy, and certainly not someone connected to the Hitler Youth, as the present Pope was in his youth. Never again. And please, someone who won't make excuses for the cover up of child abuse within the priesthood - the world has had enough. For the Church to survive, something has got to change.

Of course not everyone is Catholic, and not everyone takes the Pope seriously or has any respect left for the office. Thus, major snark took over Twitter for most of the day:
Snark Amendment: Holy Jokes







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Yahoo News

VATICAN CITY (Reuters) - Pope Benedict stunned the Roman Catholic Church on Monday when he announced he would stand down, the first pope to do so in 700 years, saying he no longer had the mental and physical strength to carry on.

Church officials tried to relay a climate of calm confidence in the running of a 2,000-year-old institution, but the decision could lead to uncertainty in a Church already besieged by scandal for covering up sexual abuse of children by priests.

The soft-spoken German, who always maintained that he never wanted to be pope, was an uncompromising conservative on social and theological issues, fighting what he regarded as the increasing secularization of society.

. . . It is not clear if Benedict will have a public life after he resigns. Lombardi said Benedict would first go to the papal summer residence south of Rome and then move into a cloistered convent inside the Vatican walls.

The resignation means that cardinals from around the world will begin arriving in Rome in March and after preliminary meetings, lock themselves in a secret conclave and elect the new pope from among themselves in votes in the Sistine Chapel.

There has been growing pressure on the Church for it to choose a pope from the developing world to better reflect where most Catholics live and where the Church is growing.

"It could be time for a black pope, or a yellow one, or a red one, or a Latin American," said Guatemala's Archbishop Oscar Julio Vian Morales.

Strangely, lightning struck the Vatican just after the announcement, confirmed by the Weather Channel radar analysis.


From The Weather Channel

Lightning struck the St. Peter's Basilica Monday, hours after Pope Benedict XVI announced that he will resign as leader of the world's 1.1 billion Catholics on February 28. In this photo taken by Filippo Monteforte, the St. Peter's iconic dome received a direct hit from lightning during stormy weather.

Sydney Morning Herald

Pope Benedict XVI's resignation came like a bolt from the blue overnight.

And the weather around the Vatican was eerily appropriate, with lightning striking St Peter's Basilica, one of the holiest Catholic sites, on the same day that Pope Benedict announced he would be stepping down.
A message from above? ... lightning strikes St Peter's dome at the Vatican hours after Pope Benedict XVI resigned.

A message from above? ... lightning strikes St Peter's dome at the Vatican hours after Pope Benedict XVI resigned. Photo: AFP

Global news agency Agence France-Presse published an image of lightning striking the basilica's dome, which it said was taken "on the day the Pope" announced his resignation.
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AFP said the striking image was captured by photographer Filippo Monteforte, who works for Italian national news and photo agency ANSA.

Romney's Bain Gave Italy the Business

I wrote earlier today about the economic dangers in the Eurozone, and the negativity of Italy's Prime Minister Mario Monti, who told Der Spiegel that Europe is going through a "psychological dissolution." Wow - that's a strong statement. But some of their problems stem back to the 1990s, when the Italian government was selling off assets to raise money to enter the Eurozone. One of those investors was Mitt Romney's Bain Capital.

Bloomberg has the story about Bain buying up Italy's telephone directory, then selling it back to them a few years later at a huge profit. This is a good insight into the way Romney did business - and yes, he was involved through his offices in Boston at the same time that he supposedly wasn't the CEO while working on the Utah Olympics.

Oh, and the profits? Most were hidden in the tax-shelter country of Luxembourg.

This past history in Europe is not as easily etch-a-sketched as Mitt's Olympic excesses or his absent tax returns in the U.S.

Bloomberg: Romney Persona Non Grata in Italy

Bain Capital, under Romney as chief executive officer, made about $1 billion in a leveraged buyout 12 years ago that remains controversial in Italy to this day. Bain was part of a group that bought a telephone-directory company from the Italian government and then sold it about two years later, at the peak of the technology bubble, for about 25 times what it paid.

. . . Romney himself probably earned more than $50 million, and possibly as much as $60 million from the Italian directory sale of Seat Pagine Gialle SpA, according to a person familiar with the matter. The deal turned into one of the biggest windfalls of his tenure.

. . . When Bain sold the directory business in 2000, Romney, while still holding the title of CEO, was in charge of preparations for the 2002 Winter Olympics in Salt Lake City. Romney has contended that he gave up management control of Bain in February 1999 to run the games.

“Mitt Romney and Bain played the role of successful financial speculators at the peril of the Italian government and the small stock-market investors who were burned by the sharp decline in Seat (PG) shares,” said Giovanni Pons, a journalist for la Repubblica and co-author of “L’Affare Telecom” (2002), which recounts details of the Bain deal.

. . . Bain moved profits through a series of subsidiaries in Luxembourg, a country that makes it easy to get cash out without paying taxes, according to corporate filings. Corporate records in Luxembourg show Bain carried out technical steps for a tax- free repatriation of profits to the U.S.

Uncertainty in the Eurozone Confuses Markets

As I wrote a few weeks ago, even if the Germans kick Greece out of the Eurozone and they go back to the drachma and a future of austerity, there are other countries in the same shape waiting in the wings. Spain, Portugal, Italy, Ireland . . . know one really knows where the ripples with stop. It's a dangerous time for the world economy. Yesterday the markets seemed happy that Spain will get a $125 billion bail-out - today, not so much.

This article describes the volatile situation succinctly:

Spain, Italy in market storm ahead of Greek vote
12 June 2012 | 14:45 | FOCUS News Agency

Madrid. Investors pounded Spanish and Italian debt on Tuesday, beset by grave doubts over a Spanish banking rescue and fears of a looming Greek exit from the eurozone, AFP reported.
Despite eurozone powers striking a deal Saturday to extend Spain a banking sector rescue loan of up 100 billion euros ($125 billion), the alarm gripping bond markets showed no sign of relaxing.
Two major concerns stood out: doubts over Spain's outlook even with the mega-loan and this Sunday's Greek elections, which in a worst-case scenario could send Athens back to the drachma.
It was impossible to say how things may turn out, said Edward Hugh, an independent economist based in Barcelona.