How to Benefit from Depressed Housing and a Declining Dollar
The US stock market has returned to its losing ways…in a big way. After losing 80 points during yesterday’s trading session, the Dow Jones Industrial Average has tumbled another 200 points today – setting the Blue Chip index on course for a seventh straight losing week.The stock market was bouncing around in positive territory for most of the trading session yesterday, before cratering in the afternoon. According to the financial newswires, stocks sold off in response to an official admission from the Federal Reserve that, yes, the economy is not doing so hot.
“The economic recovery is continuing at a moderate pace,” the Fed’s statement declared, “though somewhat more slowly than the committee had expected.” While the sluggish economy is hardly new news, it was apparently news to investors that the Fed considered the sluggish economy to be news of any kind.
Hasn’t the sluggish economy been the continuous topic of the last dozen or so Federal Open Market Committee (FOMC) meetings? And hasn’t the FOMC declared on numerous occasions that it was devoting the full power and prestige of the Treasury’s printing presses to combating deflation and spurring the economy toward recovery? And hasn’t Ben Bernanke repeatedly bemoaned the fact that the economy refuses to recover as briskly or robustly as he had hoped?
So what’s the news?
A real news story would be an FOMC press release that went like this: “Hey, we thought we could spark an economic recovery by printing a bunch of money and buying Treasury debt. But the tactic failed. Now we have no idea what to do.”
But until that day arrives, the Fed will continue to epitomize Einstein’s definition of insanity: Doing the same thing over and over hoping for a different result.
For nearly 100 years, the Fed has presided over the debasement of the US dollar. Despite all the meetings, pronouncements, Congressional testimonies and Ivy League theories, the Fed has achieved only one verifiable result: It has converted a 5-cent Coca-cola into a $1 Coca-cola. In other words, the dollar has forfeited about 95% of its value since the Fed came into existence in 1913.
“The Federal Reserve has exchanged the gold standard for the PhD standard,” James Grant, editor of Grant’s Interest Rate Observer , quipped yesterday on Bloomberg TV.
Absent the constraints of gold-based money, Grant explains, the Fed has increasingly played games with the paper-based kind…and this game-playing corrupts the free market. “The Fed is in the business of imposing false values,” says Grant. “It is imposing false values across a range of markets.
Anyone In Miami Depressed - News
The real estate market in Miami Beach makes Grant's point. As we noted in yesterday's edition of The Daily Reckoning, “The perverse activities of the Federal Reserve are providing an unintended support to the real estate market.
"They basically get stuck in a mindset where they relive what happened to them over and over again," said study co-author Jutta Joormann of the University of Miami in an Association for Psychological Science news release. "Even though they think, 'Oh,
i'm depressed. may have to watch wnba. may. This won't upset me until there's actual games that should be played being cancelled. The owners are happy now, they will save lot of money. Eboy – I rely on summer league during my vacation every year.
"This defendant preyed on innocent Haitian children living in severely depressed conditions, making his conduct particularly deplorable," said US Attorney Wifredo A. Ferrer. "Rather than using Morning Star as he promised -- to administer aid and
Still, that debate provided an interesting background for "Aurora," which I found to be a gritty, atmospheric and nerve-wracking work that powerfully evokes the disordered mental condition and depressed surroundings of its middle-aged protagonist
How to Benefit from Depressed Housing and a Declining Dollar
The US stock market has returned to its losing ways…in a big way. After losing 80 points during yesterday’s trading session, the Dow Jones Industrial Average has tumbled another 200 points today – setting the Blue Chip index on course for a seventh straight losing week.
The stock market was bouncing around in positive territory for most of the trading session yesterday, before cratering in the afternoon. According to the financial newswires, stocks sold off in response to an official admission from the Federal Reserve that, yes, the economy is not doing so hot.
“The economic recovery is continuing at a moderate pace,” the Fed’s statement declared, “though somewhat more slowly than the committee had expected.” While the sluggish economy is hardly new news, it was apparently news to investors that the Fed considered the sluggish economy to be news of any kind.
Hasn’t the sluggish economy been the continuous topic of the last dozen or so Federal Open Market Committee (FOMC) meetings? And hasn’t the FOMC declared on numerous occasions that it was devoting the full power and prestige of the Treasury’s printing presses to combating deflation and spurring the economy toward recovery? And hasn’t Ben Bernanke repeatedly bemoaned the fact that the economy refuses to recover as briskly or robustly as he had hoped?
So what’s the news?
A real news story would be an FOMC press release that went like this: “Hey, we thought we could spark an economic recovery by printing a bunch of money and buying Treasury debt. But the tactic failed. Now we have no idea what to do.”
But until that day arrives, the Fed will continue to epitomize Einstein’s definition of insanity: Doing the same thing over and over hoping for a different result.
For nearly 100 years, the Fed has presided over the debasement of the US dollar. Despite all the meetings, pronouncements, Congressional testimonies and Ivy League theories, the Fed has achieved only one verifiable result: It has converted a 5-cent Coca-cola into a $1 Coca-cola. In other words, the dollar has forfeited about 95% of its value since the Fed came into existence in 1913.
“The Federal Reserve has exchanged the gold standard for the PhD standard,” James Grant, editor of Grant’s Interest Rate Observer , quipped yesterday on Bloomberg TV.
Absent the constraints of gold-based money, Grant explains, the Fed has increasingly played games with the paper-based kind…and this game-playing corrupts the free market. “The Fed is in the business of imposing false values,” says Grant. “It is imposing false values across a range of markets.
Anyone In Miami Depressed - Bookshelf
Hispanics in American politics, the search for political power
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In the first published study to examine the effect of rumination on depression symptoms in a treatment seeking sample, Kuehner and Weber (1999) examined the ...Harper's bazaar
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... pale, 0.5-0.8 mm. long, reticulate, pinched at the base; tubercle depressed, sessile. ... tubercle depressed, wider than high, exceeding the bristles. ...Help Guide Directory
Miami Rumors (Depressed Fan)
As the static summer grinds on in Philadelphia, rumors of another Eastern Conference playoff team possibly making drastic changes are beginning to surface. We'll ...
Heading To Miami To Face The Heats (Depressed Fan)
The Sixers will take the court in Miami tonight against a redefined Heats team, led by ... the "Boston" sixers, so you won't see anyone from that site bending over backwards to ...
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Get current Miami mortgage rates and compare the best home loan and refinance rates from top lenders in Miami, FL.
Conan: Leaving "Tonight" Made Me Depressed | NBC Miami
Conan O'Brien says losing his "Tonight Show" hosting gig felt like a marriage that had just broken up but that his national comedy tour has cushioned the blow.
Not Depressed, Just British!
American doctors misdiagnose a British man with depression, in this cross-cultural satire reprinted from Living Lightly.