From the President's Desk - August 11, 2023

Welcome back to Legatus' From the President’s Desk!

From the President’s Desk is a chance for me to share with you what has held my attention this week. The weekly update will present a selection of observations and news stories focused on Catholic, business, and secular affairs, oriented to inform and empower Catholic professional leaders like you. 📬 

🕝 6.6 min read

⛪ Solemnity of the Assumption: August 15

Next Tuesday, August 15, is a holy day of obligation (so set a calendar reminder!) for the Solemnity of the Assumption. Busted Halo, a great website from the Paulist Fathers, has a helpful explainer about the important day in the life of the Church, Understanding and Celebrating the Feast of the Assumption. This is a great resource to share with friends and family who want to learn more about this day we set aside for Our Lady.

🧳 On the Road

This week, I traveled to Milwaukee to visit our thriving chapter. Along with meeting and speaking with members, a highlight of my chapter trips is learning about local businesses and apostolates. They are witnesses to the role of Legatus members as Ambassadors for Christ in the Marketplace.

With that in mind, Chapter President Michael Schulze brought me to Burlington, a suburb of Milwaukee, to visit a dynamic apostolate. The Institute of Christ the King Sovereign Priest has recently acquired St. Francis Friary. The Institute is transforming the friary into the Sacred Heart Retreat Center, and restoring it to its former glory of 30 years ago. Once the restoration is complete, it will be an ideal location for retreats, including Forum retreats. I expect that Legatus members will benefit from this apostolate for decades to come.

During my time in Milwaukee, the local chapter asked me to be their guest speaker. The theme of my talk was "The Battlefield of Fatherhood." I used the cardinal virtues as a guide to talk about personal growth in virtue, drawing on my experiences as a Marine and a father.

Thank you to the Legatus members of Milwaukee, for making me welcome!

🗞️ Lawsuit: Catholic Foster Parent Applicants Unjustly Rejected

In Massachusetts, a Catholic couple is suing the state, alleging that their foster parent application was rejected because they are practicing Catholics. Catholic News Agency has more:

The prospective foster parents, Michael and Catherine Burke, reside in Southampton, Massachusetts. Mike is an Iraq war veteran, a small-business owner, and an organist for multiple Diocese of Springfield parishes. Catherine, who goes by ‘Kitty,’ is a former special education caregiver, a small-business owner, and a cantor for the Diocese of Springfield.

The details are shocking, but sadly predictable in today’s culture:

According to the lawsuit, only one reason was given for their denial. According to Department of Children and Families (DCF) records, authorities said the Burkes ‘would not be affirming to a child who identified as LGBTQIA.’ The acronym stands for lesbian, gay, bisexual, transgender, queer, intersex, and asexual.

Other documents noted the Burkes’ devout Catholic faith, their regular church attendance, and their work at local churches as musicians. The author of their foster parent license evaluation said the Burkes are ‘lovely people’ but said ‘their faith is not supportive and neither are they.’

The lawsuit rejects the claim that the Burkes are not supportive, saying they “believe that all children should be loved and supported, and they would never reject a child placed in their home.”

Read the entire story for more details, and pray for Michael and Kitty as they take a bold and courageous stand for the Catholic faith and for freedom from discrimination.

⚠️ Chinese Economic Troubles

Chinese exports took a tumble recently. From the Associated Press:

The export contraction was the biggest since the start of the COVID-19 pandemic in 2020, according to Capital Economics. It said the decline was due mostly to lower prices, while volumes of goods were above pre-pandemic levels.

‘We expect exports to decline further over the coming months before bottoming out toward the end of the year,’ said Capital Economics in a report. ‘The near-term outlook for consumer spending in developed economies remains challenging.’

The ruling party has promised measures to support entrepreneurs and to encourage home purchases and consumer spending but hasn’t announced large-scale stimulus spending or tax cuts. Forecasters expect those steps to revive demand for imports but say that will be gradual.

What could the global impacts be? Axios explains that “weak Chinese demand for commodities and finished goods, however, could help diminish global inflation pressures.”

Even more context comes from Barron’s:

President Joe Biden will soon announce bans on private-equity and venture-capital investments in some Chinese technology companies, The Wall Street Journal reported Wednesday.

There’s also problems in the real estate sector, which is deeply in debt. On Tuesday Country Garden, China’s largest developer, missed interest payments on $1 billion of loans, which also shook markets.

China’s government and central bank have so far been reluctant to unleash massive stimulus to combat the slowdown, but it may still continue to come up with some measures. After falling on Tuesday, Hong Kong’s Hang Seng Index closed 0.3% higher on Wednesday.

What impact do you believe warning signs in the Chinese economy will have for the American economy?

🎥 World Youth Day Recap

World Youth Day has wrapped up, but you can catch a recap of the Holy Father’s participation at this link! And mark your calendars; the next World Youth Day will be held in 2027 in Seoul, South Korea.

Thank you for reading, and be on the lookout for our next From the President’s Desk!

Stephen Henley