The fed lowered short term interest rates by half of a percentage point yesterday to help the economy. That DOW took the news well with a 200 point surge, and ended the day up for a change, by 330 points, or 2.7% , sweet.
"NEW YORK (CNNMoney.com) — The Federal Reserve cut the target on a key short-term interest rate by half of a percentage point Tuesday to 4.75% in a bold acknowledgment that the central bank is concerned the mortgage meltdown plaguing Wall Street and Main Street could hurt the economy.
I love the drama they put in these news releases. There really is no news that is more important than that unless something gets blown up or there is a natural disaster before this post gets launched.
The tugboat is parked at the Port of St. Paul. I had to put some barges in the post because tugboats push barges around. Not sure why I stopped at barges, I could have tied more in like maybe a recipe or a good pet story.
If I were a boat, I think I would rather be a barge but am sure I would end up being a tugboat because that is how things usually work out for me. I would be pushing some huge barge along until I ran out of fuel or fell apart. Not a bad life, it would give me a sense of accomplishment, but being a barge would be easier.
The signs say the port is at a security level 1, a designation made by home land security, which is a government agency but not related to social security. I am not sure what "security level 1" means. The MSP International Airport, a few miles down river is at a security level orange. They both sound serious. When I leave the house maybe I should bring a life jacket and a oxygen mask just in case.
Twitter
Flickr
LinkedIn
Facebook
RSS
Posterous
Email
FourSquare
Yelp
SlideShare
Hi Teresa,
As usual, good words. I started reading your blog before I had my first cup this morning and mentally decided you were going to make an analogy of the Fed being the tugboat and the Economy being the barge. (I’m such a sucker for analogies that I make them up even when they don’t exist.)
Just goes to show that it is possible to incorrectly believe in something even though there is no basis for the belief. Oops, did I just take a shot at NAR?
Anyway, great stuff, and in the future I will try to read the entire post before deciding what it’s about.
Thanks Kevin, for health reasons I always recommend at least one cup of coffee before you read my blog. You are right the tugboat analogy would have worked. I instead took a trip into the twilight zone. I start writing about one thing but end up some place else. Unfortunatly I talk the same way.
This is the way I’d write the same story for the press:
“Professional traders today reacted with utter amazement that the Fed is actually responding to the meltdown by doing something other than sitting on their hands. These are the same people who reacted to the first signs of the real estate meltdown by buy more mortgages, assuming they had become cheap, so go figger. Traders ran around in circles buying nearly every piece of paper that crossed their path. Used donut tissues from the Dunkin Donuts down the street were up to $1.83 at one point.”
Erik, you do have a flare for this. Maybe this week we could trade. I will do Sunday and you can do Friday fun.
I noticed that. Honestly Auctions are pretty much the same. I can tell you what they did wrong with that project. Location, Location, Loaction