Fed Set To Cut Key Interest Rates By 1/2 point.

The Federal Reserve board could call for an "emergency meeting" at any time to announce a rate cut. We are in an official Recession. That in itself isn't a huge concern. If it goes on for three or four quarters, then we've got a problem. President Bush will announce, or attempt to announce, that the Federal Government is going to take action to help out the average American with some form of tax break or check...something to attempt to "stimulate the economy." It won't help (overall). Look for Ben Bernanke to announce a 50 basis point cut (1/2 point) at the next session. How will the markets react? They're already anticiapting it, so it's basically being priced into the economic models already. Mortgage rates and lenders are already ready. Now, if the Feds come up short with a 1/4 point cut, that will disapoint the markets; stocks will tumble, mortgage rates will rise. I will be here to take care of your real estate financing, regardless of where the market goes. I have been dead on with my finanical predictions, not that I'm a genius; far from it in fact, but when it comes to this stuff.... well, check the record! Pat Townsley, Broker. 415-485-1776. http://www.ptre.net/

Once Great, She didn't see it coming...

The greatest vessel of her time that ever remanded sea, she was the mighty clipper ship, the “Sovereign of the Seas.” East Boston 1852, her frame of seasoned white oak, 12,000 yards of canvas tall, she crossed the line and doubled the horn again and again. No ship to date had stowed so much down in the hold. “We’ll weather any storm” the captain always said. After a magnificent run of seven years, she wrecked up on the Pyramid Shoals. America has quite a bit in common with this ship: Built against all odds, breaking records, weathering storms, thinking she, like the Titanic, like Rome, would never fail. American homeowners have leveraged as much equity from their homes as possible to buy “things.” Tapped, America is still spending more that we’re earning. How is that possible? Credit Cards. Soon, those will be maxed out as well. We’re looking at an epic possibility: Foreclosures, plus credit card bankruptcies, plus increasing unemployment, plus rising prices. Americans are mirroring the US Government’s fiscal procedures as a role model. Not cool. Time to batten down the hatches, tighten up the rigging, stow the gear and prepare for rough seas. Get your finances organized, your debts cleared and some padding in your pocket for the incoming tides. Only an ark will withstand the lowland shoals ahead. Please contact me for a free debt consolidation consultation. http://www.ptre.net/ . Pat Townsley, Broker.

Thanks to David Coffin for his inspiring accurate & historical tale telling and shanties including The Sovereign of the Seas from "Safe in the Harbour."