Have you heard the latest? Just yesterday, European Central Bank President Mario Draghi left many puzzled by failing to clarify his recent vow to business leaders in London, stating he would do “whatever it takes to preserve the euro.”
Traders were hoping for definitive measures to save the euro. Instead, they were met with vague and unclear remarks. Consequently, the DOW dropped by 92 points, marking its fourth consecutive day of losses.
Yet, let’s not linger on this topic any longer. There’s a significant concern at hand—a severe drought is affecting us.
If you cast your mind back to 2007, after a prolonged dry spell and strict water rationing, the Georgia state government found itself at a loss on how to alleviate the thirst of Atlanta’s residents. In a moment of desperation, state officials joined hands with local ministers on the Capitol steps to pray for rain. Thankfully, their prayers were answered soon after.
Now, we face a similar predicament. Drought conditions have re-emerged, this time affecting the Midwest and the Mississippi Basin. Experts are calling it the worst drought we’ve experienced since 1956. Continue reading
Last Tuesday, we noted that Mario Draghi and the European Central Bank were gaining invaluable practical experience. Most importantly, the challenges associated with halting money creation are significantly greater than starting it.
By Thursday, Draghi demonstrated that he had learned well. He assured an audience of business leaders in London that the ECB was prepared to do “whatever it takes to preserve the euro.” The specifics of his plan remain to be seen, but Draghi will have a chance to elaborate when the ECB’s governing council convenes this Thursday.
Regardless of the details, in a clear illustration of the saying “buy the rumor, sell the news,” markets reacted positively, culminating in a sharp rally. The DOW jumped by 207 points on Thursday, followed by an additional 190 points on Friday. A CNBC headline boldly proclaimed, “Mario Draghi Just Put a Floor in Market, Pros Say.”
However, what kind of floor is this?
It certainly doesn’t resemble a solid marble foundation set in bedrock. Continue reading
Bypassing Government Roadblocks to Your Personal Prosperity
By David Galland, Casey Research
Not long ago, I was helping with some deliveries when I discovered that a normally frequented road was blocked—likely due to repair work. This forced me to reroute significantly.
I found myself wondering why the road crew hadn’t placed a sign at the main intersection to alert drivers to the closure, but I shrugged it off, thinking, “Just typical government inefficiency.”
As I drove home, the concept of roadblocks lingered in my mind. It dawned on me that only governmental bodies can legally establish these barriers.
Of course, there are occasions when such roadblocks are entirely justified—like when a bridge is deemed unsafe.
In those circumstances, it makes perfect sense to erect a roadblock to inform drivers that the route is closed. Continue reading
“No, absolutely not,” Mario Draghi, President of the European Central Bank, replied emphatically during a discussion over croissants in Paris, when asked by the French newspaper Le Monde if the euro was in jeopardy.
Numerous maxims exist for those eager to gradually understand the intricacies of the world. There are also several basic truths necessary for personal growth and prosperity.
For example, the saying ‘a fool and his money are soon parted’ provides a significant advantage over the majority. Likewise, the adage ‘never stiff the IRS’ can save one countless hours and perhaps even a grim trip to jail.
In light of Draghi’s comments, a vital insight emerges from a familiar phrase…
‘How can you tell when a politician is lying?’
‘His lips are moving.’ Continue reading
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