Reuters: One day after the Federal Reserve disappointed many investors at its final meeting of the year, the U.S. central bank helped salvage its reputation on Wednesday with an innovative plan to ease stress in global credit markets. "The Fed ... will provide liquidity that is desperately needed," said Jill King, a senior portfolio manager at Horizon Cash Management in Chicago. "It keeps us from a very scary situation. [more]
With Wall Streets attention focused on Tuesday's Fed meeting, the media will undoubtedly be interviewing "experts" early next week on their predictions. The funny thing is, as they all squabble over whether Bernanke's going for the 25 or 50 basis point cut, they're all wrong. If the Fed chairman had any common sense at all (and a little bit of an economic background), he'd realize he's following the footsteps of Greenspan's infamous chain of rate cuts that got us into this mess in the first place, and would reraise rates to teach our economy a lesson. [more]
Next time you get burned in the market for making a greedy and stupid stock investment, just cry to President Bush....he might just bail you out......at least that's why he seems to be good for these days.
I must say, our government is more unintelligent than I previously thought after seeing this plan being implemented. If you think our economy's got problems now, just wait till after the gov intervenes with this plan.
After writing several articles on the site displaying my emotions towards the purchase of my iPhone and the events following it, I'm back to share my recent tragedy with Apple. My iPhone fell out of my pocket onto the ground this weekend (yes the one I camped out on the street for 20 hours and paid $600 for). Wasn't major, about a foot off of the ground, but the screen cracked. This is the same screen that Steve Jobs was quite proud of not too long ago. Quoted days before the release of the phone:
“We’ve also upgraded iPhone’s entire top surface from plastic to optical-quality glass for superior scratch resistance and clarity. "
Some quality. I'm apparently not alone, as I've found hundreds of blog posts filled with annoyed iPhone customers with cracked screens. I went to Apple tonight and my only solution is to purcahse a new phone at a discounted price of $249. There is no option for insurance (at least through Apple) and there is no repair service. This is ridiculous customer service, especially since I've read many posts online saying that Apple was giving some users replacement phones for free. The company is being inconsistent with its policy.
I know its my fault the phone broke because I dropped it, but everyone drops their phone once in awhile. My old Nokia was indestructable. If the iPhone cannot withstand a simple one foot drop, I'm not sure its worth the slick look. (of course mine isn't slick anymore) [more]