I read a great piece in Money Magazine a while back. It’s more about mindset than the market, but I found it to be highly relevant to what we’re doing in REI, so I wanted to pass along their analysis. The author stated that he gleaned his information from his 5-year study on the habits of 233 self-made millionaires. His two biggest takeaways were: He says that he’s identified more than 300 of what he…
Category: Rants and Raves
Rational Thought from the Fed?
Shocking I know. That hasn’t happened since Paul Volcker.
But it’s about time.
I just saw a piece in the New York Times titled “Fed Dissenters Increasingly Vocal About Inflation Fears”.
I was both happy and frightened to see that headline. Happy because the Fed needs to face up to the fact that interest rates can’t stay at zero forever, and frightened by what’s going to happen to the economy when (if) interest rates ever get back to anything resembling a market rate.
And then there’s inflation.
I’m an econ major. I’ve been following this stuff since 2006 and 2007. I’m confounded but the fact that we haven’t seen any inflation yet. It’s out there. But if or when it will ever hit is anyone’s guess.
The first paragraph of the piece is what gives me a glimmer of hope:
“An increasingly vocal minority of Federal Reserve officials want the central bank to retreat more quickly from its stimulus campaign, arguing that the bank has largely exhausted its ability to improve economic conditions.”
I’ve included the piece below without further comment. Let me know what you think.
Burn Your Ships? I Don’t Think So!
Jobs are awesome. Having a job is one of the greatest benefits you can have while you’re starting a business. Especially a real estate business that takes some time to ramp up. The reason is, as I discussed in the last post, is because a job serves as a safety net. You have a source of income coming in. You can put food on the table, pay your mortgage or rent, and put gas in…
J.O.B. Seriously?
Are you a sick and tired of this as I am? It seems like every time I check my email, some idiot goo-roo is pitching his “solution†to having a job. And of course they have all kinds of cutsey acronyms for JOB. Tell me if you’ve heard these: – Just Over Broke – Just Obey Boss – Jackass Of Boss And on and on and on. Well you know what? Those f’ing goo-roos can…
The 18 Best Bottles Of Scotch In The World?
I was excited when I saw the headline in the Business Insider that they were talking about the 18 best bottles of scotch in the world. I mean, I have my own personal preferences, and I can appreciate a great glass of scotch, but my wallet isn’t in any condition to afford anything on a “best scotch list”, that’s for sure. But I still like to read about it. And so I did. And I…
How to buy a $1 million home for $1,900 a month!
Seems like all the interesting news is coming out of Southern California these days. This time, it’s about our old friend, the interest only mortgage. Never mind the fact that this was one of the chief contributing factors in the housing crash just a few short years ago. Times are good and money is cheap, so hey! Lets get the party started. The article is from the Dr Housing Bubble Blog. A link to the…