What are the virtues that will bring the City to a golden age, not just successful by material standards, but good human beings; saving a legacy of global flourishing? What are they with next year the 10th Anniversary of the publication of the Parliamentary Banking Standards Commission report, which focused on virtue?

Ethics and virtues aren’t inscribed on paper or tablets.

They can only be written on the human heart.

As a banker at the Commission in 2012 said when shown a dense two-page ethical code designed for use in a large dealing room – ‘it would make a rather good paper aeroplane’.

The greatest failures in our society come from the absence of the virtues of self-awareness; that we do believe in our own sinless perfection, and we don’t believe in sin.

If we can’t acknowledge our shortcomings, our sins, we don’t learn from our failures. And if we don’t think we need forgiveness, we don’t give it to others. Forgiveness oils the wheels of society, of politics, of the markets. It makes civilisation possible. After war it may take generations, reasonably and understandably, but without it the international future is of armies fighting by night on a darkling plain.

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Archbishop of Canterbury says Russian invasion of Ukraine must not succeed https://t.co/MXIh0gRb1d

— BBC News (UK) (@BBCNews) December 2, 2022

It may be the most anticipated recession in history. Economists have been forecasting contraction for the US economy since at least April, shortly after the Federal Reserve began raising interest rates. But a bit like Godot, it has yet to show up. Credit the cash cushion American consumers and corporations built during the pandemic. But that will eventually disappear, and then the economy will nosedive.

In 2020 and 2021, generous unemployment insurance benefits, stimulus cheques and child tax credit payments helped households squirrel away roughly $2.3tn in excess savings — the amount above what they would have saved had there been no pandemic. This powered a surge in demand as the economy reopened (fuelling upward pressure on inflation). October retail sales posted their strongest gain in eight months. Consumption accounts for more than two-thirds of US gross domestic product growth, and so far spending has remained strong.

But with consumer price inflation running at 7.7 per cent in October and median wages rising 6 per cent, according to the Atlanta Fed’s wage growth tracker, people’s standards of living are falling. As stimulus programmes ended last year and the economy reopened — increasing opportunities to spend money — Americans’ cash war chest has been dwindling, and the spending extravaganza cannot last. Economists’ estimates for how much is left vary from about $1.2tn to $1.8tn. 

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"In the months ahead, the cash war chest will dwindle, earnings will suffer and unemployment will rise. Godot never came, but a recession will, sooner or later. Whether a soft or hard landing, there will be a much thinner cash cushion to buffer it." https://t.co/YVP35bjVL6

— Nomi Prins (@nomiprins) December 1, 2022

From the fourth century onward, hope for the coming judgment of Christ was embedded in the shape of the season. Advent hope is preeminently about hope for the return of Jesus. Even now, in the Advent liturgies of the Anglican, Roman Catholic, and Orthodox churches, the prayers and Scripture readings have a laser-like focus on the judgment of Christ that is to come.

This message doesn’t align with the affected excitement and coziness of secular Advent or Christmas. Who’s to blame for that? By no means do I want to minimize the role that commercialization has played in undermining the sober character of the season. But I think the greater culprit—in addition to the sheer forgetfulness of tradition that plagues Western Christians—is a loss of confidence that the final judgment of Christ is actually good news and therefore something for believers to look forward to.

The people known for enthusiastically preaching the return of Christ in judgment are generally known for being angry and antagonistic toward those they regard as heretics and nonbelievers. Among “missional” pastors who are culture affirming, devoted to social justice, and committed to creation care, I can count on one hand the number of sermons I’ve heard about how the judgment of Jesus is good news.

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As I told my students recently: the judgment of God, rightly understood, is good news.

"I think the greater culprit…is a loss of confidence that the final judgment of Christ is actually good news and therefore something for believers to look forward to."https://t.co/Chu1ndD3Oc

— W. David O. Taylor (@wdavidotaylor) December 7, 2022

Mr. Vice President, Mr. Speaker, Members of the Senate, and of the House of Representatives:

Yesterday, December 7th, 1941 — a date which will live in infamy — the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.

The United States was at peace with that nation and, at the solicitation of Japan, was still in conversation with its government and its emperor looking toward the maintenance of peace in the Pacific.

Indeed, one hour after Japanese air squadrons had commenced bombing in the American island of Oahu, the Japanese ambassador to the United States and his colleague delivered to our Secretary of State a formal reply to a recent American message. And while this reply stated that it seemed useless to continue the existing diplomatic negotiations, it contained no threat or hint of war or of armed attack.

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7 December 1941. Japan launched a surprise air attack on US Pacific Fleet at Pearl Harbor, Hawaii. President Franklin D Roosevelt described it as a “Day of Infamy”. It was also a key turning point in the Second World War, as it brought the USA into the war on the Allied side. pic.twitter.com/XzoRXcT6UA

— Prof. Frank McDonough (@FXMC1957) December 7, 2022

Having been trained in rhetoric and law and having studied Greek, Ambrose became known for his knowledge of the latest Greek writings, both Christian and pagan. In addition to Philo, Origen, and Basil of Caesarea, he even quoted Neoplatonist Plotinus in his sermons. He was widely regarded as an excellent preacher.

https://worship.calvin.edu/grants/worshiping-communities/
In many of those sermons, Ambrose expounded upon the virtues of asceticism. He was so persuasive that noble families sometimes forbade their daughters to attend his sermons, fearing they’d trade their marriageable status for a life of austere virginity.

One piece of his pastoral advice is still universally known: “When you are at Rome, live in the Roman style; when you are elsewhere, live as they live elsewhere.”

Ambrose also introduced congregational singing, and he was accused of “bewitching” Milan by introducing Eastern melodies into the hymns he wrote. Because of his influence, hymn singing became an important part of the Western liturgy.

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St Ambrose pic.twitter.com/zuPAnDPlqc

— Robin Ward (@RobinWardSSH) December 7, 2022

O God, who didst give to thy servant Ambrose grace eloquently to declare thy righteousness in the great congregation, and fearlessly to bear reproach for the honor of thy Name: Mercifully grant to all bishops and pastors such excellency in preaching, and fidelity in ministering thy Word, that thy people may be partakers with them of the glory that shall be revealed; through Jesus Christ our Lord, who liveth and reigneth with thee and the Holy Spirit, one God, now and for ever.

Today the Church of England celebrates Ambrose, Bishop of Milan, Teacher of the Faith, 397 https://t.co/Xr0m4gvgix

Image: Stained glass (c.1447) in the antechapel of All Souls' College, Oxford. Photo by Lawrence OP, CC BY-NC-ND 2.0, via Flickr pic.twitter.com/zsOy9WqifJ

— The Anglican Church in St Petersburg (@anglicanspb) December 7, 2022

Almighty and most merciful God, who has given the Bible to be the revelation of thy great love to man, and of thy power and will to save him: Grant that our study of it may not be made vain by the callousness or the carelessness of our hearts, but that by it we may be confirmed in penitence, lifted to hope, made strong for service, and, above all, filled with true knowledge of thee and of thy Son Jesus Christ.

There is solace
in mountains
or under canopy of trees
their steadfastness
is for all~

📷 Pierre Pellegrini pic.twitter.com/I3SOdQOHh0

— Joyce (@joycebudenberg) December 7, 2022

In the year that King Uzzi′ah died I saw the Lord sitting upon a throne, high and lifted up; and his train filled the temple. Above him stood the seraphim; each had six wings: with two he covered his face, and with two he covered his feet, and with two he flew. And one called to another and said:

“Holy, holy, holy is the Lord of hosts;
the whole earth is full of his glory.”

And the foundations of the thresholds shook at the voice of him who called, and the house was filled with smoke. And I said: “Woe is me! For I am lost; for I am a man of unclean lips, and I dwell in the midst of a people of unclean lips; for my eyes have seen the King, the Lord of hosts!”

Then flew one of the seraphim to me, having in his hand a burning coal which he had taken with tongs from the altar. And he touched my mouth, and said: “Behold, this has touched your lips; your guilt is taken away, and your sin forgiven.” And I heard the voice of the Lord saying, “Whom shall I send, and who will go for us?” Then I said, “Here am I! Send me.”

–Isaiah 6:1-8

There is solace
in mountains
or under canopy of trees
their steadfastness
is for all~

📷 Pierre Pellegrini pic.twitter.com/I3SOdQOHh0

— Joyce (@joycebudenberg) December 7, 2022