In this issue:·        

• Re-Planning Our Journey:  Pope Benedict Addresses the Crises -- Jim Hug, SJ     
• Time Ripe for Serious Commitments on Climate Change -- Theresa Polk       
• Developing Countries Give Voice to Financial and Economic Crises -- Aldo Caliari
• Rich Country Food Initiative Falls Short -- Theresa Polk
• Economics for the 21st Century -- Kristin Sampson         
• The Intersection of Climate Change, Agriculture, and Development:  An Interview with Laura Hurtado (Guatemala) and Fatou Mbaye (Senegal) -- Chadi el-Khoury    

Much like the current crisis, the Depression wasn’t an event isolated to the world of finance. In fact, it was magnified by, and in turn magnified the impacts of, a corresponding ecological crisis. Much like we face today.

In last night's presidential debates, Senator McCain and Senator Obama offered competing vsions for the economy.  Both attempted to address the concerns and
aspirations of middle class Americans in the midst of the dual housing
and financial crises driven by Wall Street.  This got me thinking back to the
root causes of the crises.  I’ve followed the technical discussions on bundled mortgage securities
and over-leveraged firms, and no doubt many people made reckless
decisions, but the problem lies even deeper with the economic
philosophy that has reigned for over 30 years.

Headlines this morning spoke of global stock markets plunging from Wall Street to Japan. Across the globe we’re witnessing a massive sell-off. And it’s making our problems worse. Wall Street needs a time out.

As the unraveling financial crisis has shown this week, for all the walls we may attempt to build, our borders are far more porous than we ever could have imagined. What happens here reverberates far beyond, not only from Wall Street to the proverbial Main Street, but to Italy and Germany and India and Peru.

During the first so-called “Presidential” debate, my attitude barometer went from boredom to anger. The American people deserve better, and the global situation on so many fronts demands a thoughtful debate between the two candidates.

I’m having a difficult time deciding how I feel about the “bailout package.” I thought about what I would have done yesterday if I were a member of Congress. I decided I probably wouldn’t have voted for the bailout package either. To me it seems like a band-aid made for a paper cut that is trying to fit over a gaping wound that is a hundred times the size of a paper cut. Maybe this band-aid is the wrong shape and size. Maybe it's not even a band-aid that we need.