| By Webmaster,
on October 02, 2008 12:49 AM 
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Published in : The News, The News |
Several weeks later, on a Sunday night, Emma was peacefully lying in her bed. Suddenly a flash of intense light hovered above her bed. Ruth appeared as an angel. Emma, she said, I have good news and I have bad news.
Oh, Ruthie, Emma said, tell me the good news.
The good news, Emma, is that there Ten Pips a Day is a softball team in heaven! All of our friends from girlhood are here and so are our old teammates. We are all carefree girls again. We play all day in perfect weather. We never get tired. And we are happy, happy, happy and will be for eternity. It is truly heavenly.
Oh, Ruth, that is so wonderful, Emma replied. What better news could I have received on this fine Sunday night? What could possibly be the bad news?
Well, said Ruth, the bad news is you are pitching on Tuesday.
So often, just when all seems so good and just right, we receive an abrupt warning that things are about to change, that we are going to be yanked from our comfortable existence and into the unknown. At that moment, we realize we have been enjoying a false sense of comfort.
Last update: October 02, 2008 12:49 AM
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| By Webmaster,
on October 01, 2008 05:35 AM
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Published in : The News, The News |
In my view, the degree of substantive action to support economic growth and insure against downside risk will be conditioned by Instant Forex Profit what we see coming down the inflation pike. To deliver on its dual mandate, the Fed must keep one ear cocked toward signs that inflationary expectations are drifting upward as we execute additional monetary measures.
Let me bring this home to Philadelphia. In 1748, Benjamin Franklin wrote an Advice to a Young Tradesman. In it, he speaks in the language of the day of the concepts of opportunity cost and of the power of compound interestpretty precocious stuff for those times. Of the money supply, he wrote that the more there is of it, the more it produces at every turning, so that the profits rise quicker and quicker. Yet he also warns in earthy terms of Fellow Traders the dangers of being too prolific. He that kills a breeding sow, Franklin warned, destroys all her offspring to the thousandth generation. He that murders a crown the currency of the day, destroys all that it might have produced.
Last update: October 01, 2008 05:35 AM
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| By Webmaster,
on September 30, 2008 11:14 AM
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Published in : The News, The News |
Financial panics such as these occurred frequently during the 1800s and early 1900s. One of the most serious bank panics occurred in 1907. The large number of bank failures and the subsequent loss of savings prompted cries for reform. People wanted a Trading for Beginners central banking authority to ensure the operation of healthy banks that might otherwise fail because of a bank panic and to supervise bank activities so banks would not engage in unsound business practices that might lead to more bank failures. The public also wanted a more elastic currency and an improved payments system, which would contribute to economic stability.
Creating the Fed. In response, Congress set up the National Monetary Commission to study the nations financial system and pinpoint its weaknesses. One of the primary weaknesses identified was that the United States lacked an elastic currency. This meant the banking system did not have a way to supply currency if demand for it increased significantly in a short time, so panics occurred. In 1912, the commission presented Congress with a monetary reform plan that recommended the establishment of the National Reserve Association, which would hold the reserves of commercial banks and could make short-term loans
Last update: September 30, 2008 11:14 AM
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