Posted tagged ‘market crash’

On the Power of Prayer: High Holidays/Financial Meltdown edition

October 10, 2008

So, last week, first day of Rosh Hashanah, the time comes in the service to say the prayer for our country.  The hazzan calls up a member of the congregation to lead that prayer, an economist — joking as he did that given the news of the day, it made sense to have our house money scholar put a little extra English on the supplication.

Flash forward ten days to yesterday.  Same point in the Yom Kippur service.  The same guy gets called, with the same joke.  Only this time he responds with the data:  the market was down 1,000 points between the two holidays (and close to the same again in the time that passed from yesterday’s prayer to this writing).

Whatever the virtues of prayer may be, moving markets ain’t in ’em.

Image:  Maurycy Gottleib, “Jews Praying in the Synagogue on Yom Kippur,” 1878.  Source:  Wikimedia Commons.