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The Fed chairman http://www.officialclippersauthority.com/raymond-felton-clippers-jersey-c-18/ ,
Ben "Helicopter" Bernanke, is in the hot seat now. The markets are once again
focusing on the next meeting of the Federal Open Market Committee (FOMC) set for
Tuesday and Wednesday of this coming week. The Fed is expected to hold interest
rates unchanged at this meeting but is clearly in an uncomfortable position.
Inflation is roaring ahead at serious rates of increase and the Dollar is in
danger of a collapse on forex markets, which would seem to indicate a need for
the Fed to start increasing interest rates. However, increasing interest rates
with a soft economy underway, a badly deteriorating housing market, and
businesses starting to lay off workers at higher rates would probably throw the
economy into a deep recession that the Fed has been fighting hard to avoid.
After all, this is an election year. Ben Bernanke is an avowed advocate of a
more transparent Federal Reserve and reactionary, anxious markets are the
byproduct. Without the mysterious Alan Greenspan at the helm http://www.officialclippersauthority.com/paul-pierce-clippers-jersey-c-10/ ,
the curtain has been pulled back on the Fed to reveal Bernanke as a clear,
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active nanny and he is already supporting the elite financial interests that
have created this speculative bubble in the first place. Over one trillion
Dollars have already been made available to the banks and the brokerages to
protect them from their own excesses and to attempt to forestall a deflationary
rigor mortis. If these bail out operations had not been taken, if the financial
system itself were transparent, the house of cards would surely collapse on us
all and the people would lynch Bernanke and any other rich jerk on Wall Street
and in Washington that they could get their hands on. Bernanke must not rest
well at night knowing just how fragile the financial system still is. Wall
Street's positive reaction to the appointment of Ben Bernanke is yet another
example of how completely clueless most investors are when it comes to the Fed
and the precipice over which America's economy now teeters. Bernanke's time at
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precipice whose depth is a big unknown. Probably the fall will be a long hard
one and fairly or not Bernanke will get the lion's share of the blame. Gold,
historically a reliable harbinger of inflation, this year set an all-time high
of more than $1000 an ounce. The dollar is languishing at near a record low
against the euro and a weighted basket of international currencies. Housing
prices are still falling, actually tanking is a better description. Gold has
gone from $700 to $930 (was $1000), while the dollar has absolutely tanked with
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that the gold market used to play in keeping governments from running printing
presses at full speed. The more the US debases its currency as swift punishment
the higher oil prices go. Unfortunately, for the US and for the world, the US
government hasn't yet seemed to be fully aware of this linkage. Or perhaps it is
aware, but the financial house of cards in the US is so shaky that high speed
printing presses running at full capacity is the only course of action that the
government feels that it can take in a misguided effort to avoid a financial
meltdown. High fuel costs are now starting to bite. Four airlines are out of
business, Northwest finally had to merge and United and all airlines, except
Southwest that was smart enough to hedge its fuel costs, are getting killed by
fuel costs and are cutting back on flights and cutting back on employees.
Truckers are getting killed too. A major part of the food and goods distribution
system in the US is near a breaking point as truckers go broke paying nearly
five Dollars a gallon for diesel fuel. But back to Bernanke. Bush appointed him
as Chairman of the Federal Reserve on October 24 http://www.officialclippersauthority.com/luc-mbah-a-moute-clippers-jersey-c-12/ ,
2005 and he was sworn in on February 1, 2006. The chairmanship for the Federal
Reserve typically lasts 14 years. Bush, along with Paulson, have done a lot of
talking about a strong dollar policy, yet the dollar continues to lose value.
Talk long ago lost it impact on markets, except for perhaps fueling short term
rallies that professional forex traders sell into. Hard corrective action is
what the forex markets now demand if the Dollar is to move higher over the long
term. Wall Street at first thought that the Greenspan "put" would just morph
into the Bernanke put. Like a spoiled child, Wall Street came to believe it
could get away with any amount of bad behaviour without being punished. The
indulgence shown by the Fed became known as the Greenspan "put" - as in a put
option which allows an investor to sell shares at an advantageous price when
they have fallen below the strike price. Like the Wizard of Oz, Alan Greenspan
and other central bankers were hidden behind a non-transparent curtain to evoke
an aura of omniscience. Under Bernanke the curtain has been pulled
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as Bernanke and Trichet are seen as mere mortals trying to cope with a
complicated and contradictory economic climate. However, Bernanke is now being
criticized by taking actions more designed to bailout Wall Street friends than
to bring on lasting solutions to US financial problems. At least that is how
many investors see it. In the end, Bernanke will likely be the poor guy who is
stretched out to be drawn and quartered as the economy tanks and Wall Street and
the Dollar crash. "Bubbles" Greenspan will be criticized as well as it is his
policies while at the Fed chairmanship that lead to the creation of a major part
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I know that a shrimp to a fish is like bacon and eggs to people. With this
knowledge I loaded up on live shrimp at one of the three bait shops close to
where I was staying.
This was the first day of my vacation on this island
and I was determined not to think at all. My brain was on vacation too on this
small barrier island on Apalachicola Bay. It boasts that this is the way Florida
used to be. If that means there are no huge condominiums, hotels or water parks,
then I guess this is the way Florida once was. There are three restaurants that
are open during the season and one market. If you don't get to the market before
6pm, you're out of luck because that's when they close up shop for the
There are hundreds of privately owned homes that you can rent by the
week which is what I did last year in mid June. Comparatively, houses on the
island seem to cost a little less to rent than those in the rest of Florida's
Gulf Coast. Just down the road a mile from where I was staying is the St. George
Island State Park. Still digging out from one of the 2005 hurricanes, the park
was only half open when I visited. I only needed an entrance into the park to be
able to walk on about 9 miles of uncluttered beach. Along that beach is where I
hooked a fish I will never forget!
Parking the car in the designated
careful not to get in the soft sand on the shoulder of the road through the
park, I pulled my fishing stuff out of the trunk. This particular morning I
carried my rods and reels and tackle box, along with 2 foot lengths of PVC pipe
I had cut for rod holders. I also brought along a lounge chair and cooler to
keep the fish I would catch. I felt like a pack mule as I struggled toward a
particularly inviting piece of beach.
Although I was almost exhausted by
the time I reach my chosen spot, I had the positive attitude all fishermen have
just before they make that first cast! After struggling from the parking lot to
the water's edge, I dumped all the equipment I had carried from the car. I made
a vow that the next time I came to the beach to fish; I would have invested in a
cart of some kind to carry all the junk I had brought with me through the soft
sand of the beach.
Getting down to the business at hand, I rigged up my
fishing line with a two ounce ball weight, tied on a couple of hooks with one
and a half foot leaders. Searching through my bait bucket for the perfect
I grabbed one that I would have like to see simmering in a garlic-butter sauce
and hooked him just behind the head and cast him into the gulf. I barely had
time to take the slack out of the line before something practically jerked the
rod out of my hand.
Right away I set the drag to allow the fish to run
without breaking the line. I immediately reset the drag to compensate for the
terrific strength the fish seemed to have. I began to get concerned when I
looked and saw that over half of my fishing line had already been stripped off
the reel. My fish was headed toward Galveston and there was little I could do
I was using 12 pound test line and ordinarily I wouldn't have
been concerned about a fish breaking the line, but this one wasn't acting like a
two or three pound Pompano. More line was ripping off my reel so I decided to
show this fish who was boss. I leaned back on my reel and started a pumping
action the way they do on sports shows on television. The fish didn't like this
maneuver at all! Suddenly my fishing line became limp. I was reeling in an empty
fishing line. The line was broken!
I caught a few Pompano, and they were
delicious, that morning but I never got another chance at the fish that got
away. It was a great way to start a vacation. Looking back, I probably lost that
fish due to unnecessary thinking. I should have left well enough alone and let
the fish tire itself out. I learned my lesson; no more excessive thinking!
Author's Resource Box
Bob Alexander is well experienced in outdoor cooking, holiday eating and
Bob is also the author and owner of this article. Visit his
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