Schwartz & Bernanke
What do I have in common with Fed Chief Ben Bernanke? Besides the fact that both of our heads scream for Rogaine, we both are doing our part to stimulate the economy. I just spent $312 at Banana Republic on winter clothes. Bernanke just spent another $45 billion buying mortgage bonds to help keep interest rates low. Will we regret our purchases in the future? Perhaps, Mortgage Fans. Years from now when rates are at 30% and I’ve got my family living in my mom’s basement (and I’m still wearing the crappy Banana Republic clothes) I might curse Bernanke for his spending ways. But let’s give him some credit for doing everything in his power to stimulate a recovery. While critics blast the Fed for not doing enough to help with foreclosures, they don’t realize we can only print up so much money.
Love is great quote
“When you are in love you can’t fall asleep because reality is better than your dreams.” – Dr. Seuss.
By the time you read this, two big economic reports will have come out this morning that could swing interest rates either way. The first one, Housing Starts is expected to be up by 1.5%. A weakness will lead to lower rates. The second report is called CPI (Consumer Price Index) which is a measure of inflation at the consumer level. Weaker figures will lead to lower rates. (this should remain in check. Bernanke said on Monday that “inflation probably will remain subdued for some time.”) Also, did’ja know that by the time you read this I may be a millionaire if I hit all the numbers on my Lotto ticket? If I do, this will be my last blog – and like the great Jeff Spicoli once said, “I’m heading over to London to jam with the Stones. And you guys are invited too!”
Love hurts quote
“Donger’s here for five hours, and he’s got somebody. I live here my whole life, and I’m like a disease.” – Samantha (Molly Ringwald), Sixteen Candles.
Timeout for Trivia
Congrats to all of you who correctly guessed Demi Moore as the answer to last week’s trivia question. Want to be entered into a drawing to win cash and prizes totaling over $5.00? Simply answer correctly today’s Who Am I question. Good luck: “It was on this day in 1985 that my last Top 10 hit is released. (reaching # 7). The song is the title song to a Warner Bros motion picture of the same name that starred a couple of old SNL veterans (Chase and Aykroyd). While purists feel as though I was a ‘sell-out’ having a song directly tied to a movie, they forget that they loved the first movie song I wrote for a James Bond flick.”