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A seven-night trip to Australia. Here’s how to win it!
Somebody has to win this trip, right? Might as well be you.
After 20 years working in the travel industry, and almost that long writing about it, Tim Winship knows a thing or two about travel. Follow him on Twitter @twinship.
This article first appeared on SmarterTravel.com, where Tim is Editor-at-Large.
The problem is this When tightening credits impacts asset prices, the Fed develops cold feet and abandons tightening. The reason could even be that if it continues it could have disastrous consequences. So it goes like this Loosen credit/pump in liquidity-create bubble(say 3 times in 10 years)-tighten credit/suck liquidity-bubble bursts a bit-15% fall-get weak-kneed, Loosen credit/pump in liquidity-pump up the stock market Let us start with S&P of 100.. 100-400-340 (even this is greater than 10% CAGR for 10 years when interest rates are nailed to the floor)-get jittery-pump money-take it to what? Can we call it a sane policy? Do you think this is what is Fed”s job? The sane thing to do is not to take it to levels (and pump your chest with “Courage to Act and what not) that is disastrous. Allow the market to function. Act as the lender of last resort you are supposed to be and not the lender of first resort that seems to be the way of life at the Fed since Geenspan. These guys do think too much of themselves indeed. What did Greenspan think of himself when he started the whole thingThe savior of mankind? In short, this tightening act (against a falling market) needs to seen to be believed!