Still Looking for a Light at the End of the Tunnel
I can’t believe another week has flown by, and it’s already time for our Fab & Fru Cocktail Party Round – Up, sure to inform and delight you – and help you engage in witty conversation at all your gatherings this weekend.
Sounds way more fun that it actually is. The Fed issued (surprise, surprise) a weak global economic outlook report. Their response: “Operation Twist” is basically a reshuffle of the Fed’s government bond holdings towards holding more long term bonds as opposed to short term bonds. That might be a bit hard to process, so just know that in a nutshell, it’s an effort to keep long term interest rates (like mortgages) lower for consumers. Operation Twist was seen as an indication of just how bad prospects are for the economy – the market’s not happy. So…
The Stock Market’s Thursday Tumble
The Dow closed down almost 400 points yesterday. Why? The negative Fed report stokes ongoing fears about another global recession - a la 2008.
Greece Is the Word
HP Gets a New CEO
If it makes you feel any better, sometimes large companies have just as much trouble picking a mate as we do. Hewlett Packard just named it’s third CEO in 6 years, ousting the current one after less than a year on the job. Former eBay CEO Meg Whitman is now heading up HP.
Gold Jewelry Is Still Really F’ing Expensive
Seriously, what was I thinking? Even though gold prices dropped 3% today, when I went to look at a gold bracelet at a boutique down the street, I was floored by the sky high price tag. A good reminder that even with the recent drop in gold price, it is still priced very high – which makes sense given the uncertain economic times we’re living in. It just doesn’t seem fair – the loss of money in the stock market, plus the still high price of gold makes those baubles I’ve been eying even more out of reach than ever…
Look on the Bright Side!
Just because this week’s financial news doesn’t quite bring a sigh of relief to any of the world’s ailing economies, it doesn’t mean we shouldn’t have a hopeful outlook…about other things in life. As your week comes to a close, we suggest counting your blessings and putting some money back into the economy by enjoying a nice, long happy hour with your friends!