TOGETHER WITH
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Good morning. The only thing getting more hype than Squid Game is
all of the new products Morning Brew will roll out for you this week.
First up: the inaugural edition of HR Brew hits inboxes today. If you
work in the people profession and want fun + insightful industry news
hitting your inbox, sign up now.
For everyone else...keep your eyes peeled.
—Neal Freyman
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Nasdaq
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S&P
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Dow
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34,326.46
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10-Year
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1.462%
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Bitcoin
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$47,838.28
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Moderna
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$341.09
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*Stock data as of market close, cryptocurrency data as of 10:00pm ET.
Here's what these numbers mean.
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Markets: After getting roughed up in September, stocks have entered a fourth quarter that's typically been bullish
for equities, with the S&P gaining four out of every five years
since WWII. Merck’s announcement on Friday that its antiviral Covid pill
lowered the risk of hospitalization or death by 50% dented high-flying vaccine stocks like Moderna, which fell more than 11% on Friday.
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Government: Democrats
will try to resolve internal divisions on how to proceed with Biden’s
signature economic proposals—a $1 trillion infrastructure bill and a
$3.5 trillion spending package. Plus, that debt ceiling deadline is
coming up.
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CBS News
If you’ve
been a loyal Brew reader, you know that in recent weeks Facebook’s been
rocked by a huge leak of internal company documents.
Last night, in an interview on 60 Minutes, the source of those leaks revealed herself: former Facebook product manager Frances Haugen.
Haugen, who
worked for almost two years on Facebook’s civic misinformation team
before leaving in May, said she became increasingly concerned that the
company was prioritizing engagement over user safety and wellbeing. Two
of her accusations that have made big waves: 1) that Facebook
contributed to the Jan. 6 insurrection at the Capitol by allowing the
spread of misinformation and 2) that it knew Instagram was harmful to
teens’ mental health but didn’t take action.
Haugen was
so concerned that she gathered reams of internal research and
distributed them to folks who could do something about it.
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Haugen sent those documents (tens of thousands of pages worth) to
the WSJ, which published a series of investigations called the Facebook Files.
- She also sent them
to the Securities and Exchange Commission (SEC), and her lawyers have
filed at least eight complaints that allege Facebook misled investors.
Facebook is blowing the whistle on Haugen
The company
is going on offense to contain the fallout of a scandal that’s already
bigger than the Cambridge Analytica data collection controversy in 2018.
Before the interview aired, Facebook’s VP of Policy and Global Affairs Nick Clegg circulated a 1,500-word memo
to employees arguing that Haugen’s complaints are simply not backed up
by the data. “What evidence there is simply does not support the idea
that Facebook, or social media more generally, is the primary cause of
polarization,” Clegg wrote.
Looking ahead…we’ll hear more from Haugen when she testifies before a Senate subcommittee on Tuesday.
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At least 126,000 gallons of spilled oil
has spread into a slick covering roughly 13 square miles off the coast
of Southern California. It has the markings of a “potential ecological
disaster,” Huntington Beach Mayor Kim Carr said, over fears the oil
could harm local wildlife. The oil spill forced officials to close miles
of beaches and cancel the final day of the popular Pacific Airshow
yesterday.
It is one of California’s biggest oil spills in years.
So what caused it? A broken pipeline connected to the offshore Elly oil rig, Ocean County Supervisor Katrina Foley said.
On Sunday,
oil stopped leaking from the pipeline, and now the race is on to prevent
the worst environmental consequences. The Coast Guard helped build
2,050 feet of floating barriers to contain the huge oil slick from
flowing into wetlands and other ecologically sensitive areas.
Big picture: Environmental leaders said oil spills, which are notoriously difficult to clean up, could be felt by local wildlife for years.
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Photo by Ronny Rondon on Unsplash
Jordan’s King Abdullah II has spent more than $100 million
on properties around the world, including a cliff-top mansion in
Malibu. Czech Republic Prime Minister Andrej Babis used shell companies
to buy a chateau in southern France for $22 million.
We know this
due to a huge trove of leaked private financial records that show how
the top 1%, including billionaires and world leaders, use offshore
accounts to evade taxes and conceal assets.
These
documents, called the “Pandora Papers,” represent one of the biggest
leaks of financial information in history. The findings were published
yesterday in a report compiled by 150 global media outlets.
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If that sounds like a lot of people working on this, it’s because there was an unprecedented amount of material. Journalists had to sift through nearly 3 terabytes of data, equivalent to ~750,000 photos stored on a smartphone, per the AP.
Big picture: The
Pandora Papers are the sequel to 2016’s Panama Papers, financial
records leaked from the defunct offshore law firm Mossack Fonseca. But
yesterday’s report is on another level—records were collected from 14
offshore financial services providers.
Looking ahead...the
impact of the new financial docs is still TBD. But at least in
Pakistan, Prime Minister Imran Khan said his government will investigate
the Pakistani citizens named in the documents.
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Stat: Thanks to its App Store, Apple earned more profits from games ($8.5 billion) than Microsoft, Nintendo, Activision Blizzard, and Sony combined in fiscal 2019, according to a WSJ analysis. But its role as gatekeeper of the gaming world is under threat as rivals like Fortnite maker Epic Games launch legal grenades.
Quote: “You think people care what you think, and then you care less what people think, and then you realize no one cared, anyway.”
In an interview
with the WSJ, Tom Brady shared one of his biggest learnings from
getting older: Stop worrying about how people think about you, because
they aren’t thinking about you. It appears to be working—Brady became
the NFL’s all-time leading passer in his New England homecoming last
night.
Watch: Love, hope, and worry in drought-ridden Page, Arizona. (Morning Brew)
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SCOTUS is back: The Supreme Court returns today
to hear in-person arguments for the first time since March 2020. This
fall is going to feature a blockbuster slate, with major cases over
abortion, gun regulations, and religious expression.
Jobs report: The
August jobs report whiff raised concerns about the pace of the economic
recovery. This Friday we’ll learn whether things picked back up on the
hiring front in September. Only a shockingly low number of jobs added—like, zero—would delay the Fed from tapering its stimulus program in November.
Tech updates: Anyone
else a proud green texter? The new Android 12 mobile operating system
is expected to launch today, and Windows 11 is coming tomorrow.
Everything else:
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No Time to Die, the last Bond flick
featuring Daniel Craig as 007, hits US theaters on Friday after earning
an impressive $119 million overseas (without China).
- After a wild
weekend in baseball, the playoffs will start this week with two
win-or-go-home Wild Card games: Red Sox vs. Yankees on Tuesday and
Cardinals vs. Dodgers on Wednesday.
- It’s Nobel Prize week. The winner of the grandaddy of them all, the Nobel Peace Prize, will be announced Friday.
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Tesla delivered a record 241,300 cars in Q3.
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China will ban video games that promote gay relationships.
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More than half of India’s thermal power plants have less than three days of coal stocks remaining, joining China in “energy crisis” mode.
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The National Women’s Soccer League
launched an independent investigation into its handling of abuse
allegations and announced a new executive group. It’s been shook by
accusations that a now-fired coach sexually harassed players.
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Dive back into the week.
Shallow dive: Wholesome animal content Medium dive: The most counterintuitive facts in math, CS, and physics Deep dive: Why oil doesn’t corrupt Norway Cannonball: Lists of lists of lists on Wikipedia
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The latest addition to the Brew's newsletter family, HR Brew, is hitting inboxes around the world later today.
There are
huge stories to tell in HR—seismic cultural changes amid a pandemic, the
new era of remote work, demands for systemic change in pay disparity
and racial equity, and transformative workplace tech and tools.
HR Brew will bring you expert advice on all that and so much more.
Sign up here to get the first edition today.
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Do you know what the initials in the following names stand for?
- John F. Kennedy
- George H.W. Bush
- F. Scott Fitzgerald
- Mary J. Blige
- Susan B. Anthony
- George R.R. Martin
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Michael J. Fox
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- John Fitzgerald Kennedy
- George Herbert Walker Bush
- Francis Scott Fitzgerald
- Mary Jane Blige
- Susan Brownell Anthony
- George Raymond Richard Martin
- Trick question: J doesn’t stand for anything—Michael’s middle name is Andrew.
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FEATURED BIOGRAPHY
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Charlton Heston
American actor
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FEATURED EVENT
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1957
Sputnik 1 launched by U.S.S.R.
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Advertisement |
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"Tom Brady returned to
Gillette Stadium as quarterback of the World Champion Tampa Bay
Buccaneers Sunday," Boston Globe columnist Dan Shaughnessy writes on the
front page, "and beat his sideline Svengali, Bill Belichick, 19-17."
- The "rain-soaked, wildly
entertaining football game ... was not decided until [the Patriots']
Nick Folk's 56-yard field goal attempt doinked off the left upright with
less than a minute to play."
Keep reading.
Axios AM
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By
Mike Allen
·Oct 04, 2021
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Good morning. It's the first Monday in October — a new Supreme Court term opens. - Smart Brevity™ count: 1,449 words ... 5½ minutes. Edited by Zachary Basu.
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1 big thing: Future of Catholics
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Photo: "Axios on HBO"
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In an interview in Rome for "Axios on HBO," Cardinal Peter Turkson
— a close adviser to Pope Francis — told me the Catholic Church plans
to be increasingly active on climate, refugees and racial equity. - Both Turkson and the pope plan
to attend the UN Climate Summit that begins in Scotland on Oct. 31,
bringing what Turkson, echoing His Holiness, calls "the cry of the poor
and the cry of the earth."
The cardinal himself is proof. Long considered a favorite to be the first Black pope, Turkson heads an office created by Francis, the Dicastery for Promoting Integral Human Development. - Turkson's remit includes climate, migrants, and victims of armed conflict, torture and natural disasters — a lot.
Pope Francis has
changed church law to give more rights to women. But Turkson — like
Francis — remains conservative on women becoming priests. I asked him if
he personally struggles with the issue. - "Personal struggle, no,"
he said. "The struggle will be there if that kind of thing became an
issue of denial of rights, OK? ... Not even men who are ordained
consider that to be a right."
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Illustration: "Axios on HBO" I asked Cardinal Turkson about
a first in U.S. history: All three branches of government have
practicing Catholics at their heads — President Biden, Speaker Pelosi
and a majority of the Supreme Court justices. - "We thank God for
the change ... to a point that people's faith does not constitute an
obstacle to the service that they can render to a state," he said.
Asked about the lessons of the fall of Afghanistan, Turkson said world powers need to "talk more," suggesting they should fight less. - I asked him if that lesson had been learned. He replied: "There's still time to learn it."
See a clip.
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2. Miles of oil foul O.C. coast
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Photo: David McNew/AFP via Getty Images
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This photo shows the tide off Newport Beach, Calif., yesterday. Some residents,
business owners and environmentalists questioned whether authorities
reacted quickly enough to contain one of the largest oil spills in
recent California history, AP reports. - The oil created a miles-wide sheen in the ocean and washed ashore in sticky black globules, fouling the sands of famed Huntington Beach.
- Some birds and fish were caught in the muck and died.
A leak in an underwater pipeline is suspected. |
Cleanup
contractors deploy skimmers and floating barriers (booms) to try to
stop oil incursion in Talbert Marsh in Huntington Beach. Photo: Ringo
H.W. Chiu/AP An estimated 126,000 gallons of heavy crude leaked into the water, and some washed up on the shores of Orange County. - Huntington Beach Mayor Kim Carr said the beaches of the community nicknamed "Surf City" could remain closed for weeks or even months.
The L.A. Times said the slick "spanned about 8,320 acres — larger than the size of Santa Monica."
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3. U.S. to warn China on trade
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Nansha Port in Guangzhou, China. Photo: Qian Wenpan/Nanfang Daily via Getty Images
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U.S. Trade Representative Katherine Tai will declare
today that an extensive review found China isn't meeting its
commitments under the Phase One trade deal, Axios' Zachary Basu writes. - Why it matters:
That lays the groundwork for the Biden administration to keep in place
Trump-era tariffs while considering other punitive actions.
The bottom line: The
administration doesn't expect China to meaningfully change its
practices, and isn't seeking to open negotiations on a Phase Two
agreement with Beijing. - On a call with reporters previewing
Tai's speech, a senior administration official said: "We recognize that
China simply may not change, and that we have to have a strategy that
deals with China as it is, rather than as we might wish it to be."
Share this story.
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A message from JPMorgan Chase & Co.
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A Great Equalizer for Generational Wealth is Homeownership
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JPMorgan Chase’s $30B racial equity commitment includes policy
recommendations, education and $12B toward mortgages to increase access
to homeownership for Black and Latino families.
The idea: Make it easier for underserved communities to achieve homeownership. See how.
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4. Vaccine mandates get results
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President Biden gets a COVID booster shot in the South Court Auditorium on the White House campus last week. Photo: Brendan Smialowksi/AFP via Getty Images Most vaccine holdouts would rather get the shot than lose their jobs, Axios' Caitlin Owens reports: - States with vaccine mandates for health care workers, including California and New York, have seen a large uptick in vaccinations.
- Some health systems in red states, including Texas, have seen similar results when their mandates took effect.
- United Airlines achieved nearly 100% vaccination among its employees. Tyson Foods announced that more than 90% of its workers are now vaccinated.
Keep reading.
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5. Facebook whistleblower's moment
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Scott Pelley interviews Frances Haugen on last night's "60 Minutes." Photo: CBS News
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Frances Haugen's "60 Minutes" interview last night
put a name and a face on charges that Facebook failed to counter harms
caused by its platform, Axios' Sara Fischer and Scott Rosenberg report. - Why it matters:
The complaints were largely familiar. But they gained specificity and
depth from Haugen's standing as someone who formerly worked on
Facebook's civic integrity team.
Haugen said she downloaded thousands of pages of internal research before she left Facebook in May. - Those documents became the basis for a series in The Wall Street Journal chronicling Facebook's research into Instagram's impact on teen girls' mental health.
On "60 Minutes,"
Haugen told Scott Pelley that her lawyers have filed at least eight
complaints with the SEC. "Facebook, over and over again, has shown it
chooses profit over safety," she said. - Haugen, 37, is a long-time Silicon Valley product manager who has had stints at Google, Pinterest and Yelp. She resigned in April.
Lena Pietsch, Facebook
director of policy communications, said: "Every day our teams have to
balance protecting the ability of billions of people to express
themselves openly with the need to keep our platform a safe and positive
place." - "We continue to make significant
improvements to tackle the spread of misinformation and harmful content.
To suggest we encourage bad content and do nothing is just not true.”
Watch the segment ... Facebook statement, "What Our Research Really Says About Teen Well-Being and Instagram."
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6. "Axios on HBO": Jamie Dimon on China and speaking out
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Jim VandeHei interviews Jamie Dimon in Anacostia, D.C. Photo: "Axios on HBO"
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Jamie Dimon, chairman and CEO of JPMorgan Chase, is
known for being outspoken. But he told "Axios on HBO" that global
companies must be selective about public issues they dive into, even
ones as stark as China's treatment of Uyghurs. - "We do business in 100 countries,"
Dimon told Axios CEO Jim VandeHei. "But I've made it very clear: We
believe in human rights. We believe in free enterprise. We believe in
the capitalist system. That's all counter to China."
Asked about commenting on hot U.S. issues, Dimon said: "Some we do and some we don't. Some we can't." - As an example, he said:
"I love my daughters. But after I went on Trump's business council, one
wrote me a long, elegant, nasty letter ... 'How could you, Dad?'"
- "And I wrote her back saying:
'You got everything right except the conclusion. Martin Luther King
would be going, seeing President Trump every time to fight for his
people.'"
VandeHei finished with a speed round: You've been in the room with Joe Biden, you've been in the room with Donald Trump. Compare them. - Dimon: "It's
impossible to compare them. ... I like the civility of Joe Biden ...
President Trump is very different alone than in public. ... Joe Biden is
the same."
Bitcoin: Is it the fool's gold of the future? - Dimon: "It's got no intrinsic value. And regulators are going to regulate the hell out of it."
Should they regulate it? - Dimon: "Yes.
... If people are using it for tax avoidance and sex trafficking and
ransomware, it's going to be regulated, whether you like it or not. So
it's not a moral statement. It's a factual statement."
See a clip.
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7. Pandora Papers: Massive leak reveals hidden riches
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Graphic: International Consortium of Investigative Journalists A global journalistic collaboration used 3 terabytes
of spreadsheets, contracts and other documents from law firms and
wealth managers to expose offshore ploys that hide shocking riches of
the global elite. - The Pandora Papers project, a successor to the Panama Papers
exposé of 2016, used millions of documents to reveal "offshore deals
and assets of more than 100 billionaires, 30 world leaders and 300
public officials," writes The Guardian, a member of the consortium.
Two big findings by The Washington Post, another participant: - South Dakota, Nevada and other states (graphic above)
"have adopted financial secrecy laws that rival those of offshore
jurisdictions." Foreign leaders are "moving their private fortunes into
U.S.-based trusts. ... Tens of millions of dollars from outside the
United States are now sheltered by trust companies in Sioux Falls." Go deeper.
- King Abdullah II of Jordan —
among the poorer countries in the Middle East, and a large recipient of
U.S. foreign aid — has spent more than $100 million, all hidden behind
fronts, on lavish compounds in Malibu, D.C.'s Georgetown and London. Go deeper.
Explore the project.
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8. 1 GOAT thing
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Tom Brady leaves the field after winning last night. Photo: Maddie Meyer/Getty Images
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A message from JPMorgan Chase & Co.
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Chase helps Chicago artist buy a home, after years of trying
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Chicago artist P. Scott wasn’t sure he’d ever own a home. But with
support from Chase and a $5,000 grant to help with upfront costs, his
dream came true.
Upfront costs are a big barrier to homeownership for Black and Latino families, particularly in cities with a big racial wealth gap. Read his story. |
Father Outraged over Marine Colonel Scheller’s Imprisonment
Special: Outrage Over Food Shortages
Trump Demands Pultizers for NY Times, WashPost Be Returned
Fauci Says You Might Not Celebrate Christmas with Family
Bill Maher Decries Politicalization of Ivermectin
J&J Vaccine Possibly Linked To Two More Serious Health Conditions
The Mainstream Media Says “We Can Expect To See A Shortage Of Canned Foods”
Lawmaker’s Warning: You Think It’s Safe to Let Democrats Have $1.5 Trillion?
Whistleblower
Admits Facebook Aided Jan. 6 Protest
George
Floyd Statue in New York City Vandalized
SPECIAL: Should
Biden Get Barack Obama Added to Mount Rushmore?
Education,
CRT Take Spotlight in Tightening Va. Gov. Race
Inflation
Grows Fastest in 30 Years as Dems Push for More
A
thousand years ago, the Virgin Mary was called Stella Maris by
believers. That means ‘Our Lady, Star of the Sea’ in Latin. She had this
ancient name because of her role as the guiding star on the way to
Christ.
Even though we no longer call her Stella Maris, she can still be act as a star that guides us when we are lost.
That is why our special prayer delegation is going to Stella Maris Church and Elijah’s Cave next week. It is the perfect place to pray for guidance and for God to always show us the path.
“Heavenly
Father, I need Your Holy Spirit to give me strength, wisdom and
direction. You know every challenge I face. You know every decision I
must make. Help me know when to stop and listen to Your direction,
Amen.”
Thank you for praying with me. Please send your prayer request to Elijah’s Cave before next week.
May all our prayers be heard, amen.
Sending a beacon from the Holy Land,
October 4, 2021
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