I wrote this on another thread regarding the mass rejection of Trent by bishops. I believe it's an accurate summary of the present situation:
"The truth is that we are living in a time when two Churches are co-existing--a false and a true one. JPII is pope of both the old and the new religions. One denies Catholicism's basic tenets--of a propitiatory sacrifice, of a Real Presence, of a sacrificial priesthood--and does all it can to destroy these principles without coming right out and saying this is what it intends; the other side affirms the ancient teachings. One side is top-heavy with apostate bishops who side with Luther; the other side has little official authority, but challenges the hierarchy in a grass-roots movement that is growing in force. The two Churches are heading for a show-down--and the Pope is more or less playing it down the middle, siding with Tradition in his official writings, but instituting policies designed to support its destruction."
Christ whom we adore is really present
Jesus is no longer present to men in the same way that he was on the roads of Palestine. After the Resurrection, he appeared in his glorious body to the women and to his disciples. Then he took the Apostles and "led them out as far as Bethany, and lifting up his hands he blessed them. ...He parted from them, and was carried up into heaven" (Lk 24:50-51). But in ascending to the Father, Christ did not distance himself from men. He dwells forever in the midst of his brethren and, just as he promised, he accompanies them and guides them with his Spirit. Henceforth, his presence is of another kind. Indeed, "at the Last Supper, after celebrating the Passover with his disciples and when he was about to pass from this world to his Father, Christ instituted this sacrament as the perpetual memorial of his Passion..., the greatest of all his miracles; and he left this sacrament to those whom his absence filled with grief, as an incomparable consolation" St. Thomas Aquinas, Office of Corpus Christi, 57, 4). Every time we celebrate the Eucharist in the Church, we recall the death of the Saviour, we proclaim his Resurrection as we await his return. Thus no sacrament is greater or more precious than that of the Eucharist; and when we receive Communion, we are incorporated into Christ. Our life is transformed and taken up by the Lord.