Was the Fed duped?

Early last week it seemed as though the world, or the financial world at least, was coming to an end rather quickly. Global markets sold off heavily and for no apparent reason other than concerns of the US recession. In response to this the US Federal Reserve cut interest rates by 75 basis points- the biggest cut in 30 years.

Then it was revealed that a rogue trader had caused the market shock by making bogus trades. The resulting market forces of his company unwinding those trades led to the market sell off.

Now if you are like me, there is some serious injustice here. First, where are the repurcussions to Societe Generale, the firm he worked for? Other than losing £3.5 billion, there needs to be something. Second, what about the Fed? Were they duped into action by this? They say in the press that they stand by their decision but they still look a little foolish. Why was such a huge cut needed? In order to restore confidence- the very confidence they undermined, they should begin raising rates again. Ben Bernake has to understand that his stakeholder base extends far beyond wall st to middle america. The amount of the rate cut is not commensurate with the other rhetoric about the state of the US economy overall. The economy is just not as bad as a 75 point cut would lead you to believe.

Nammie visits London

How lucky we were to have Nammie visit London two weeks ago (11-20 January). She had the wonderful experience of seeing our flat, seeing Hampstead Hill School, and seeing the sights in London including Buckingham Pallace and tea at the Ritz.

Plans for the move

Just wanted to keep everyone up to date on the move plans. Jennifer and the kids fly out on Monday, 11 February for Miami. They will stay at nammies house for a week in an effort for us to skip the temporary accomodation step in our transfer. Our previous experience with this is that they are not very kid friendly. The movers arrive on the 11th as well and begin packing. We officially vacate the flat on the 15th of February. I fly to the Washington DC area on the 16th. On the 18th we have our storage shipment set to arrive. Then later that week the air shipment from London (the air shipment is being picked up on the 8th). Eventually, our sea shipment will arrive in mid March.

Jen is already hard at work on getting the kids sorted out. She is looking into schools for the kids. Also, in addition to continuing her Masters, Jen has two job offers to consider. Super-woman!

I'll keep you all posted through the blog as time permits.

We have a house

Late last week we signed on a house in the Northern Virginia area. We will be living on Tamarack Drive in Vienna. We are all very excited, especially the girls who will get their own rooms again.

How I save money on everyday purchases

Day in day out we all go to stores like drones paying top dollar for merchandise while others make the easy living. I have found the answer... Getting cash back on everyday purchases. I use ShopDaveMall and get a percentage back on everything I spend- and you can too. Click on the link and sign up today or use the link under 'cool stuff'.

NPR Cancels Michigan debate for Republicans

A small article in USA Today reported that NPR has cancelled a debate amongst Republican candidates due to lack of overall interest by the candidates. I think that this speaks volumes. Firstly, I think there is the thought that people are too busy tuning into the Democrats to be bothered to watch a Republican debate. Perhaps it was also lack of overall interest by voters?What is there not to like about watching Democrats beat each other to a pulp? It is uncanny how democrats can use up all of their energy beating each other up that they have no fight left in them when it comes to the real fight in November. Also reported in USA today was John Kerry’s endorsement of Barack Obama. Apparently John Edwards was suitable to be VP four years ago but is no longer on his Christmas card list.

And now the hard part

When we talk to people about moving back they all feel that this move will be easier on the kids. Hannah, our vibrant, intelligent, artistic, and very articulate daughter is already expressing anxiety over the move. There has been more than one night where bed time was met with tears over moving back to the USA and missing her friends. That is the hardest thing for me. We recognize that this is the right thing to do but taking Jen and the girls away from their close friends is tearing my heart out.