Thanks to two WSJ OPED authors that assured me Boomers may have bigger nest eggs that some darned FED statistics suggest.
The link to this upbeat Golden Year article is: http://online.wsj.com/news/articles/SB10001424052702304603704579329012635470796 [ this is the source of my nest egg image by the way ].
2. Loving Life on the Downslope – Thank you Pushkin!
Quoting from a recent WSJ article about a classic mid-life elegy (http://online.wsj.com/news/articles/SB10001424052702304325004579298622623826110)
“Pushkin bestows what is almost certainly among the shortest and most powerful inventory of life’s immutable treasures penned by a poet:
“I know there shall be enjoyments for me
Amid sorrows, cares and anxieties:
At times I again will be intoxicated by harmony,
Weep over my fantasy’s creation,
And perhaps on my sad sunset
Love will shine its farewell smile.” “
Enough said for now (as I’m looking downslope).
A Roadmap to Monetary Policy Reforms
by Norbert Michel
We now have a 100-year history by which to judge the Federal Reserve’s performance. On balance, the Fed has not increased economic stability relative to the pre-Fed era. The Great Depression, the great stagflation, and the 2008 financial crisis have all occurred on the Fed’s watch. Even excluding the Great Depression, business cycles have not become appreciably milder, nor have recessions become less frequent or measurably shorter. Norbert Michel argues “The Fed has strayed so far from the classic prescription for a lender of last resort—to provide short-term funds to solvent institutions at penalty rates—it strains all reason to suggest that it has successfully fulfilled that function.” In the article, Michel puts forward a direction for policymakers to begin addressing these issues.
This gent (JMW Turner) is my second favorite painter – because of his many nautical works.
OK – if you ask – Thomas Eakins is my #1.
I won’t miss the Getty exhibit through May 24th (in LA).
Here’s a Wall Street Journal link about JMW:
We’ll miss you, Leonard Nimoy.
As I battled pneumonia for part of March Madness, I used Nimoy’s “live long and prosper” to help me get past the yucky times.
And speaking of the Madness – my bracketology was hammered! So it goes.
Guess there is solace that NONE of 11.5 million brackets filed with ESPN were perfect – safety in numbers…
Speaking of safety – hopefully this personal financial “stress test” can help us Boomers assess how ready we are for retirement:
So, LLAP – Boomers!
I, for one, certainly hope so…
A stronger U.S. dollar – hmmmm
The Brookings Institute offers mixed news for our strengthened paper currency;
quoting in part:
“Expectations that interest rates will stay low lead to reduced demand for assets denominated in the domestic currency, and as a result, exchange rate depreciation. With the shift away from quantitative easing in the United States, and its expansion in Japan and the Eurozone, the price of the dollar can be expected to rise even further in relative terms.” and
“Ongoing exchange realignments and shifting trade balances could become more divisive in future months now that the European Central Bank has joined the Bank of Japan in a large program of monetary expansion. As lagged effects of the exchange rate changes work through the trading system, the negative effects on U.S. growth will become pronounced and competitive tensions over exchange rate policies will rise.”
Fingers crossed for confidence and appropriate liquidity.
If you have the inclination – read “The Great Reflation How Investors Can Profit From the New World of Money” by A. Boeckh. A summary of this provocative read can be viewed @ several sites including http://www.getabstract.com/en/summary/finance/the-great-reflation/14113.
Art of Manliness – emulating Sir Winston
“Give us the Tools and We will finish the job!”.