Four of the six diocesan bishops of the Scottish Episcopal Church, including the Primus, have urged the Bishop of Aberdeen & Orkney, the Rt Revd Anne Dyer, to consider whether she is the right person to lead the diocese, in light of the response to her reinstatement.

On Thursday afternoon, the Primus, the Most Revd Mark Strange, and the Bishops of Edinburgh, Brechin, and Argyll & The Isles released a statement to the Church Times saying that they had urged Bishop Dyer to “consider whether she is still the right person to lead the diocese”.

A spokesman for Bishop Dyer told the Church Times that it was a “matter of profound regret” that the bishops had “sought to improperly pressurise her to step down at this time and in this way”.

Bishop Dyer was first suspended more than two years ago, and had been due to face a disciplinary tribunal on allegations including bullying and abuse of her position (News, 12 August 2022).

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Exclusive: Four of the six diocesan bishops of the Scottish Episcopal Church, including the Primus, have urged the Bishop of Aberdeen & Orkney to consider whether she is the right person to lead the diocese, in light of the response to her reinstatement https://t.co/7vlmNisRlZ

— Church Times (@ChurchTimes) October 17, 2024

[According to Barclays’ economists…] The economic circumstances facing China have parallels with Japan’s experience after its asset bubble burst in the early 1990s. This created the term ‘Japanification’, which is typically defined as a combination of slow growth, low inflation, and a low policy rate, accompanied by deteriorating demographic trends.

To measure this phenomena, a Japanese economist, Takatoshi Ito, introduced a Japanification Index, which measured the sum of the inflation rate, nominal policy rate, and GDP gap. To apply to China’s economy, we have adjusted this index, replacing the GDP gap with working-age population growth, as the estimation methods of GDP gaps differ across nations and working-age population is by far the most fundamental determinant for long-term growth. Our amended index shows that China’s economy has become more ‘Japanised’ than Japan’s recently, albeit marginally.

This not a surprise to us. A demographic drag, the emergence and collapse of asset bubbles, debt overhang, zombie companies, deflationary pressures from excess capacity/high debt, and high youth unemployment, to name a few, are some of the notable similarities between the economies of China and Japan post their bubbles.

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"The “Japanification” of China continues to be a big theme, with a lot of eerie parallels right down to stimulus proving wanting. Here’s the latest symptom" https://t.co/tlxjGqqgnd pic.twitter.com/TnKwearGl0

— Scott Lincicome (@scottlincicome) October 17, 2024

Few sights

have better captured America’s world-beating ingenuity. On October 13th a giant booster rocket built by SpaceX hurtled to the edge of the atmosphere before plunging back to Earth and being neatly caught by the gantry tower from which, only minutes earlier, it had taken off. Thanks to this marvel of engineering, big rockets could become reusable and space exploration cheaper and bolder. Yet, just as the launch was a testimony to American enterprise, so Elon Musk, SpaceX’s founder, captures all that is going wrong with its politics. In his support for Donald Trump, Mr Musk has spread misinformation about voter fraud and hurricane relief and derided his opponents as ill-intentioned idiots.

America, too, continues to rack up a stellar economic performance even as its politics gets more poisonous. As they prepare to go to the polls in fewer than 20 days’ time, Republicans and Democrats have never mistrusted or disagreed with each other more. Against that gloomy backdrop, can America’s breathtaking economy possibly stay aloft?

Over the past three decades America has left the rest of the rich world in the dust. In 1990 it accounted for about two-fifths of the gdp of the g7. Today it makes up half. Output per person is now about 30% higher than in western Europe and Canada, and 60% higher than in Japan—gaps that have roughly doubled since 1990. Mississippi may be America’s poorest state, but its hard-working residents earn, on average, more than Brits, Canadians or Germans. Lately, China too has gone backwards. Having closed in rapidly on America in the years before the pandemic, its nominal gdp has slipped from about three-quarters of America’s in 2021 to two-thirds today….

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'Over the past three decades America has left the rest of the rich world in the dust.' https://t.co/YjpRyqcC5v pic.twitter.com/gon4gqDtQm

— Jesse Felder (@jessefelder) October 17, 2024

Heading into an election where the economy is top of mind for many voters, pastors say finances have been difficult at their church this year.

A Lifeway Research study found 66% of U.S. Protestant pastors say the economy is very or somewhat negatively impacting their church. The two in three pastors who report a negative economic impact is the highest since 2011, and the 14% who say the impact has been very negative is the highest ever recorded in the 15-year history of the study.

Around one in 14 (7%) say their church is seeing a positive impact. A quarter (24%) aren’t seeing any impact either way, and 3% aren’t sure.

Last year, 50% said they experienced a negative impact, 40% no impact and 8% a positive impact. In 2022, 52% reported a negative effect, 40% said it was having no effect and 7% saw a positive influence.

“National trends of a favorable stock market along with unfavorable inflation and interest can influence a local congregation’s finances, but so do more local factors that contribute to economic problems or prosperity in the church’s community,” said Scott McConnell, executive director of Lifeway Research. “In general, pastors have turned a little more negative in describing economic forces impacting their church this year.”

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66% of U.S. Protestant pastors say the economy is very or somewhat negatively impacting their church, according to @LifewayResearch.
https://t.co/LlAFg38CxC

— The Pathway (@mbcpathway) October 17, 2024

Almighty God, we praise thy name for thy bishop and martyr Ignatius of Antioch, who offered himself as grain to be ground by the teeth of wild beasts that he might present unto thee the pure bread of sacrifice. Accept, we pray thee, the willing tribute of our lives, and give us a share in the pure and spotless offering of thy Son Jesus Christ; who liveth and reigneth with thee and the Holy Spirit, one God, for ever and ever.

O Heavenly Father, who hast taught us to show forth thy praise in psalms and hymns and spiritual songs: So fill us, we pray thee, with thy Spirit that we may make melody to thee both in our hearts and with our lives, evermore giving thee thanks for all things, in the name of Jesus Christ our Lord.

Now it happened that as he was praying alone the disciples were with him; and he asked them, “Who do the people say that I am?” And they answered, “John the Baptist; but others say, Eli′jah; and others, that one of the old prophets has risen.” And he said to them, “But who do you say that I am?” And Peter answered, “The Christ of God.” But he charged and commanded them to tell this to no one, saying, “The Son of man must suffer many things, and be rejected by the elders and chief priests and scribes, and be killed, and on the third day be raised.”

And he said to all, “If any man would come after me, let him deny himself and take up his cross daily and follow me. For whoever would save his life will lose it; and whoever loses his life for my sake, he will save it. For what does it profit a man if he gains the whole world and loses or forfeits himself? For whoever is ashamed of me and of my words, of him will the Son of man be ashamed when he comes in his glory and the glory of the Father and of the holy angels. But I tell you truly, there are some standing here who will not taste death before they see the kingdom of God.”