Nope, not a financial hurricane, but a real one -- Hurricane Irene. Projections now show that
the eye of the storm will likely pass within 10-15 miles of the house. Preparations are now
underway, and since a loss of electric power is a very good bet, it may be quiet at the site for
a day or two.
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As expected, Bernanke did hold off on proposing further monetary accomodation for the economy out
at Jackson Hole. The Fed needs to have a good look at what Obama and his crew may have in mind
for fiscal stimulus on the jobs and residential real estate fronts. The Obama presentation could come
along a week or so after labor day.
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