60 Minutes Interview With Ben Bernanke

I caught some of the 60 Minutes Interview with Fed Chairman Ben Bernanke last mnight and thought it was very well done. Bernanke is a smart guy and although he missed the housing bubble he seems to be addressing the problems in the economy with as much gusto as can be expected. However the Fed's tools are at times limited in their range so if the economy does not conitnue to improve other measures else where in the government arena may have to take place.

Reverend John J O'Brien - Memorial Mass Lexington, MA Saturday October 30, 2010 - 10 AM

This Saturday October 30, 2010 there will be a memorial mass for the Catholic priest Fr. John J O'Brien in Lexington, Massachusetts at 10 AM at Sacred Heart Church.

Here is a link with more information:

http://www.stbrigidlexington.org/webPage.aspx?FatherJohnOBrien

I thank the good people of Lexington for having the service.

Donations to help the great works that my uncle did and that the Passionists continue to do can be sent to:

The Passionists


Province Pastoral Center


80 David Street • South River, NJ 08882


Here is the web site that has a link to donate electronically as well:

http://www.thepassionists.org/Home.html


Thank you,

Tom Henderson (nephew of Fr. John)

John J O'Brien, C.P. Some Interesting Web Links

Here is a link from the Passionate's web site about John J O'Brien:

http://thepassionists.org/whats_new/2010/10/19/father-john-j-o%E2%80%99brien-c-p-1941-2010/

Here is a link titled " A Tender Care For the Poor":

http://www.saint-malachy.org/jjob1/424_ATenderCare%238.pdf

Here is a link on his book:

http://books.google.com/books?id=z7NxoN9SS90C&printsec=frontcover&dq=john+j+o'brien,+higgins&source=bl&ots=aqLsJO7JRe&sig=Tl0to8KYwuJoi5qOvd8r6xbkIAo&hl=en&ei=dzzETKP-LsH-8AbS-_mqBQ&sa=X&oi=book_result&ct=result&resnum=1&ved=0CBMQ6AEwAA#v=onepage&q&f=false

Reverend John J O'Brien

I will be shifting away from the financial markets over the next week. Thank you.

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The catholic priest Reverend John J O'Brien died on Friday October 15h, 2010 with his family and fellow priests and nuns around him. Reverend John O'Brien was a Passionist priest and beloved by so many. There are so many things to write about Reverend John O'Brien but for now I will just write information here about the wake and funeral:

The wake is for Tuesday October 19th, 2010 from 3:30 PM to 8 PM.

The funeral is for Wednesday October 20th, 2010 and begins at 11 AM.

Both the wake and the funeral are in Jamaica Queens at the Passionist monastery. The address is 8645 Edgerton Blvd, Jamaica, NY 11432.

For directions please visit the Passionists web site:

http://www.bishopmolloy.org/id87.html

Thank you,

Tom Henderson, (nephew of John O'Brien)

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January 10th 2011

I have thought quite often of my uncle over the past few months and continue to come up with so many ways to describe him and the work he did. I have heard so many kind words and eloquent eulogies about my uncle. So I thought I would compile a list of things about Uncle John that made him unique that I knew of and some of the great stories that my family have heard over the past few months. Over time, I will continue to add to the list. This will be a running list of the works he did and the ways he helped so many people by living as a holy catholic priest. We still receive letters from all over the country about his great works.

- He lived the life of doing God's work in everything that he did. Always put others before him. The sick, the infirm, the elderly, people in hospitals; anyone who lost a loved one. He always had the time to sit with people and listen to their problems. When he was called to do a funeral of someone he did not know too well he would sit for long periods of time listening to the family members tell stories. How did you know that John was listening? Well at the funeral mass he would recite all of the stories he heard. One woman wrote us that people who heard Father John speak at the funeral thought that he was a lifelong family friend. But often times he knew the family only in the days before the funeral. he got to know the family of the deceased so well that he " was one of the family."

- There was a story told at the funeral of a person who lost his sister in a car accident over 20 years ago. Some how Father John found the right words to console the family. But that was not all. In the ensuing years he would reach out to the family on the anniversary of the death. EVERY SINGLE YEAR. Father John would call, write a letter or in recent years email the family. Always remembering their difficult time from 20 years earlier. Amazing.

- I heard a story of a man who lost his child less than 10 years ago. This person told us that Father John had this amazing ability to console them. As I listened to this story I thought how could anyone come up with the right words followign the death of a child? I listened as this person told us how Uncle John was very unique even among priests with his ability to console. To this day I have no idea what Father John said and what he did to help the family. I can only think that it was absolutley the perfect thing to say.

Currencies

The US $ continues to take a hit and that has been a positive for US equities and for the commodities markets. Gold again is up and now has passed the $1300 mark. But if the US (via hints of quantitative easing or actually moving ahead with QE) continues to push the purchasing power of the dollar down is it accomplish anything? After all if the US$ drops by 1% vs a basket of international currency and then the stock market rises by 1% in terms of other currencies the US stock market is the same value. Also there is a chance that one country looking to quickly devalue could lead others to devalue and a currency race to the bottom ensues.

Perhaps the Fed really has no choice but to embark on QE. The economy seems to be growing but at a very slow pace. And recently there have been speed bumps along the way. The mini Euro melt down back in the Spring slowed down world growth. The US housing market remains in trouble even with the ultra low interest rates and the US unemployment rate remains stuck at close to 9.5%.

Speaking of the unemployment rate, the September data will be released on Friday. This is one week later than the normal release date. The usual release date is on the first Friday of the month after the one that the report is on. Since Sept 30th ended on a Thursday last Friday Oct 1st would have been the first Friday. But I can see the BLS's concern of getting accurate stats out in lieu of a hasty less accurate number.

Hurricane Earl

Hurricane Earl has the potential to affect the South East and the North East USA. Over the next few days, all eyes will be on Earl.

Besides the potential for damage to people, and property, one has to wonder if the financial markets will be affected at all. If it turns out worse than thought and the cost of the storm becomes large, then the financial markets could be adversely affected.

China And the US Decouple

Can the US grow without relying too much on China's growth and can China grow without relying too much on the US consumer?

Many US companies have expanded into China during their recent multi year growth surge. That has helped many US companies and their bottom lines. It also has helped US GDP. What happens if China taps on the breaks on all of their infrastructure spending and other spending that US companies sell right into? That will be important since China seems to be slowing its growth more than expected.

Also what happens of the US consumer stops buying Chinese goods? Will China then try to lower its currency to help offset this?

China and the US one fast growing, another slower growing but much larger. Both currently intertwined.

How to Help Haiti

Here are links that can be used to help the people of Haiti in their time of need. The first is catholic charities and the second is doctors without borders:

http://crs.org/

http://doctorswithoutborders.org/