Thanks to the Federal Reserve bailing out the poorly managed banks, the value of the dollar is dropping to record lows and inflation will be rising. So Americans can now watch the value of their houses dropping by 10's of thousands of dollars a week on top of having to pay more and more for things like milk and gasoline.
What many of them aren't seeing at the moment is the upcoming surge in property taxes to make up for the lower values. Sure the politicians will claim that it won't cost any more, but have you ever seen them monkey with tax rates and it not cost more? We've got Consumer math for day to day living, Advanced math for those working in the technical and scientific fields and Political math which is used to explain how the increase in taxes or spending is somehow not really an increase, usually it's described as "a reduction" from the amount they were originally going to raise them. See that doesn't hurt as much that way....
And today is "triple witching day" - Wall St will probably be on pins and needles up until that final trading hour, with the least little bump setting off ripples of hysteria - it will be an interesting day to watch. And it's also the last day for the billionaire who put all the money into betting the Dow was going to drop at lease 30%. One helluva hedge it would seem, but the amount that's being spent to set off some risk somewhere else is just mind boggling. What could you possibly be protecting on the left hand that's worth enough to spend billions with your right hand?
Canadians Find Better Bargains in US - New York Times
What many of them aren't seeing at the moment is the upcoming surge in property taxes to make up for the lower values. Sure the politicians will claim that it won't cost any more, but have you ever seen them monkey with tax rates and it not cost more? We've got Consumer math for day to day living, Advanced math for those working in the technical and scientific fields and Political math which is used to explain how the increase in taxes or spending is somehow not really an increase, usually it's described as "a reduction" from the amount they were originally going to raise them. See that doesn't hurt as much that way....
And today is "triple witching day" - Wall St will probably be on pins and needles up until that final trading hour, with the least little bump setting off ripples of hysteria - it will be an interesting day to watch. And it's also the last day for the billionaire who put all the money into betting the Dow was going to drop at lease 30%. One helluva hedge it would seem, but the amount that's being spent to set off some risk somewhere else is just mind boggling. What could you possibly be protecting on the left hand that's worth enough to spend billions with your right hand?
Canadians Find Better Bargains in US - New York Times
TORONTO (AP) -- Canadians are expressing pride in their economy but might be more inclined to go on shopping sprees in the U.S. after the Canadian dollar reached parity with the U.S. dollar for the first time since 1976.
The U.S. currency also plummeted to a new low Thursday against the 13-nation euro, which traded above $1.40 for the first time since it was introduced in 1999.
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