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The pope’s new letter isn’t just an ‘exhortation’ on the environment – for Francis, everything is connected, which is a source of wonder

Integral ecology, a holistic way of looking at problems the world faces today, is key in the pope’s writings about the environment.

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Pope Francis cleans the sky from pollution in graffiti by the artist Maupal, inspired by 'Laudato Si.' AP Photo/ Andrew Medichini

Eight years have elapsed since Pope Francis released “Laudato Si,” his encyclical urging “care for our common home.” Though hailed as an eloquent plea to protect the environment, climate change was just one part of the pope’s message, from encouraging solidarity with the poor to criticizing “blind confidence” in technology.

On Oct. 4, 2023, Francis released an addendum to “Laudato Si,” addressed to “all people of good will on the climate crisis.” October 4 marks the feast day of the pope’s namesake, St. Francis of Assisi, who famously loved all of creation. The new installment, “Laudate Deum” – “Praise God” – is no less sweeping in the way it links environmental problems with economic, social and technological issues.

Like “Laudato Si,” the new document strongly reproaches wealthy nations that contribute the most to climate change, accusing them of ignoring the plight of the poor. It offers a similar rebuke of rampant individualism, lamenting that responses to global crises of climate change and the pandemic have led to “greater individualism” and hoarding of wealth, rather than increased solidarity.

Scarcely any facet of modern life emerges unscathed by Francis’ sometimes withering critiques. In his view, societies have failed to respond to crises that are profoundly interrelated: global inequality, pollution and even new forms of artificial intelligence that feed the illusion of humans’ unlimited power. His 2015 broadside, in fact, targeted today’s “technocratic paradigm” with such vehemence that one critic likened these passages to the rantings of an “Amish hippie.”

At the root of Earth’s interlocking crises, the pope argued in 2015 and again in 2023, is a denial of the fact that all life exists in relationships. The larger whole in which all beings are embedded is, for Francis, both an inescapable reality and a source of wonder.

An integrated vision

I am an environmental ethicist, and my work explores both science and religion. And while these fields often look at the natural world through very different lenses, they also share a common value: wonder. Francis’ social critique, I believe, stems from his vision of life – one filled with awe for the depth of meaning and mystery to be found in an interconnected world.

Conversely, the list of social and environmental ills Francis addresses in his environmental documents all involve a tendency to fracture and obscure the bigger picture – to ignore the larger context of each particular issue. He criticizes “excessive anthropocentrism,” for example: overlooking humans’ bonds with the rest of creation. Within society, excessive individualism similarly prioritizes “parts” at the expense of the whole community.

A man in white robes bends over a small table to sign something, as men in black and purple robes stand behind him.
Pope Francis attends a 2021 meeting in the Vatican, sending an appeal to participants in the 26th United Nations climate change conference. Alessandro Di Meo/Pool/AFP via Getty Images

Cheap consumer goods mask the full cost of production, such as the environmental and health costs of manufacturing, obscuring the relationship between customers’ habits and their harmful consequences. The impacts of air travel, for example – air and noise pollution, land use, carbon emissions – are not factored into the ticket price. Failure to see these connections contributes to what Francis assails as an unsustainable “throwaway culture.”

Meanwhile, ubiquitous technology – with an app for everything at each person’s fingertips – encourages a techno-fix mentality. Francis’ environmental writings reprove tech solutions that target the symptoms of problems without addressing their deeper causes. Geoengineering may offer hope to mitigate the effects of climate change, but not if societies keep burning fossil fuels in the meantime. Social media supposedly helps build connections, but researchers have found that people who go on the apps to maintain relationships feel more lonely than other users. In an August 2023 speech, Francis warned of social media’s “reduction of human relationships to mere algorithms.”

Integral ecology

In Francis’ eyes, all these problems result from denial of how deeply interconnected the world is. When humans attempt to declare “independence from reality,” he writes, relationships are the first casualty.

The word “reality” appears over 40 times in the pope’s 2015 encyclical, by my count. In his 2023 addendum, Francis once more features the word prominently. He argues that nonhuman creatures have their own “reality” and that climate change is a complex “global reality” that many try to deny, or simplify by blaming others – notably developing societies – rather than recognize their own role.

To understand what he means by “reality,” I look to the idea of “integral ecology,” a term popularized by Francis’ 2015 encyclical. In short, integral ecology is a holistic way of thinking about economic, social, political, ethical and environmental problems. The Earth is not confronting a variety of separate crises, Francis insists, but rather “one complex crisis” with many faces. His new document reinforces this idea, stressing that climate concerns are about more than ecology, because care for the Earth and care for one another are intimately linked.

A few Christian nuns and other women walk on a street during a march, holding a banner of Pope Francis.
Nuns hold a banner reading ‘I ask you in the name of God to defend Mother Earth’ during the Global Climate March in Bogota, Colombia, in 2015. Guillermo Legaria/AFP via Getty Images

Mystery in a dewdrop

The pope often turns to Saint Francis of Assisi, patron saint of animals, as a model of integral thought. The 13th century saint understood the “inseparable bond” that exists “between concern for nature, justice for the poor, commitment to society, and interior peace,” the pope wrote in 2015. St. Francis spoke of all of creation as family, praising “Mother Earth,” “Brother Moon” and “Sister Sun.”

In 2015, the pope wrote admiringly about his namesake’s sense of awe, adding that without wonder, humans’ attitude is that of “masters, consumers, ruthless exploiters.”

Indeed, wonder can create a shift in how people understand themselves in relation to something larger. There has recently been a renaissance of interest across many fields of study in the power of wonder to encourage behaviors that are good for the environment and for human health and relationships.

Psychologists have found that experiences of wonder can shrink the ego, encouraging generosity, humility and ethical decision-making. Wonder also weakens the perception of boundaries, increasing a person’s sense of connection with something larger than the self. Other studies suggest that experiences of awe have the power to broaden people’s moral concerns, increasing their consideration toward other humans, plants, animals and the environment.

For the pope, however, integral reality is about more than humans and nature; it encompasses relationships between all living things and God – an even larger, mysterious reality that is divine.

“The universe unfolds in God, who fills it completely,” he writes in both documents. Therefore, “There is a mystical meaning to be found in a leaf, in a mountain trail, in a dewdrop, in a poor person’s face.” All are knit together in wondrous patterns of interconnection.

Lisa H. Sideris does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed CentralWeb of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

  • Aging X
  • Aging Facebook
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  • Aging YouTube
  • Aging LinkedIn
  • Aging SoundCloud
  • Aging Pinterest
  • Aging Reddit

Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.


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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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