Hallow is holy as in ‘Hallowed be thy Name’ in the Lord’s prayer. This in turn combines with eve, because the next day is All Saints day, which is tomorrow, while today is ‘All Souls’ day. This is all according to the Roman Catholic or Western Orthodox church. The Protestants celebrate ‘Reformation Day’ today, which is something the Roman believers try to avoid. This is my religious traditions lesson for today, all aimed at us being aware of our traditions.

The Protestants celebrate ‘Reformation Day’ today, which is something the Roman believers try to avoid.

Yesterday I made good progress with the sorting, but my dining table remains in need of ordering. I posted one current and four dated daily entries yesterday and today I hope to complete the catch-up in this category.

Today I’ll have to say good bye to the CPR ‘steam out’ at Lake Louise’s log-built station, as that shows for October of this year’s ‘Steamscenes’ calendar of 2014.

When I came to Toronto as a new immigrant in 1959, steam locomotives could still be seen in the Toronto downtown yards. Those were the years that the firemen went on strike against the elimination of their jobs, as the diesels came in. The caboose - from the Dutch “ship’s kombuis” - survived until about ten years ago, as last car on the train.

Yesterday’s Globe and Mail’s Business Report featured the end of the ‘Quantitative Easing’ third and last phase. I call this operation a devaluation, but since the US$ is the world exchange currency, we are all in the same boat.

This quantitative easing is a euphemism for the buying up of bad mortgage debts left in the financial system after this problem came to light in 2008. The deregulated financial system had wrapped high risk and highly levered mortgages inside more secure ones, named it something else, which ‘product’ cum disguise was given a triple A security rating by the collaborating rating agencies. When the mortgages had to be renewed after four years, the worms crawled out of the shaking rotten logs.

The financial system froze up, because no one could pinpoint which securities were still reliable and which one were not. So, must companies sat on their money until the US-Fed had flushed out - read ‘bought up’ - most of the bad debts present in the financial system.

Here is how the Socialists bailed out the Capitalists …!!

This buying up was a socialist type operation where the government cum taxpayer wound up rescuing the miscued capitalists which went under the name of hedge fund operators and banks.

This buying up of bad debts can now come to an end, because the US economy is picking up again. This can now happen because the government in the US now owns all the bad debts and the capitalists feel safe enough to make new investments using the clean securities now available.

This improvement in the economy is the signal for the Central bankers that confidence is back in the financial markets. So much for the market mechanism is perfect, and it may be, but the human operators are greedy and that makes the mechanism fail. It is for that reason that we need some regulation. Possibly we are wiser now, while some are much richer and many are poorer. All that a result of this deregulation of the markets that started under the US president Clinton and has been curtailed hopefully.

P.S: A Smarting Contrast.

The amount of money pumped into the economy through this Quantitative Easing process - QE 1, 2 and 3 - is 1.6 trillion $$US according to Parkinson and 3.0 trillion $$US says the same author in the second Globe and Mail report. It is now at 15billion $$US per month, down from 85billion per month at its height.

Contrast this with the dire state of health care for the Canadian and US war veterans and you have an idea how we are distracted by public relation and advertising activities. I say this because no one runs adds for those neglected veterans either in the US of A or Canada. Would a church be gutsy enough to do something like that? How about some crowd funding?
<8:57am and 9:25am~