What led to the tragedy of the Great Depression in the 1930s were major missteps from the Federal Reserve and the federal government. The Fed put the interests of the banking community over those of the American public and this is what turned a bad recession into a bad depression. This was combined with an ongoing campaign of denial of the problem on Washington’s part. Herbert Hoover gave a press conference in June 1930 announcing the Depression was over ...
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Even though Consumers have been borrowing less, the government has been borrowing more and giving the money to consumers to spend (or at least to some consumers). This is equivalent to the “bread and butter circus” of Roman times. It is not a sustainable model for economic growth. Nor is it even honest to claim that this is actually economic growth. We don’t exactly live in an age of financial honesty however - and that is another trend that can be expected ...
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By: Tanya Palta
BlackBerrys and iPhones are so passé, especially if you are a self-confessed purveyor of luxury and think of your mobile phone as the ultimate tool in luxury. It is for this niche and select group of individuals that the Ulysse Nardin Chairman has been conceptualized. Not for mere mortals like me, calling the Ulysse Nardin Chairman just another mobile phone would be blasphemy since it represents a lifestyle and is not just a mere instrument for communication.
Epitomizing style ...
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by: Tanya Palta
Fashion and furniture are not mutually exclusive anymore since time and time again we have come across this rather intriguing symbiotic phenomenon. Be it Versace, Fendi or even Ralph Lauren, all have dabbled in the world of furniture and furnishings and have met with great success. This year, the luxury brand to watch out for in the design continuum, is none other than the French high fashion house, Hermès.
Many see Hermès as one ...
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by: Tanya Palta
Since its announcement, the automobile industry has been waiting for the BMW Vision EfficientDynamics concept car to turn into reality. Unfortunately they have to play the waiting game till the year 2013, as the release is slated for then. For the uninitiated, the BMW Vision concept car will feature cutting-edge EfficientDynamics technology, which aims at reduction of fuel consumption without affecting the performance of the car.
The stunning and technology advanced concept car was ...
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by: Tanya Palta
Siematic as a company has carved a niche for itself by exclusively concentrating on the often-neglected kitchen. Founded in 1929, the company has shown an unrelenting predilection towards designing solutions that emphasize on the functional as well as the aesthetic aspects of the kitchen. Their kitchen designs never veer towards the obscure and always stay true to its primordial properties. Like most modern German companies, Siematic too has been able to demonstrate a new design perspective which stresses on design as ...
Read On →Americans shouldn’t expect to hear the truth about inflation from Fed Chief Ben Bernanke and he didn’t disappoint in a speech he gave to the International Monetary Conference in Atlanta, Georgia on Monday. The money-printer-in-chief of the Federal Reserve denied that the Fed’s easy money policies are responsible for the inflation that is currently showing up in commodity prices. The public shouldn’t have expected anything else from the dissembling Fed Chair, nor should they believe anything he says.
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by: Tanya Palta
Be it the Louvre or the Vatican museum, the quintessential tourist seldom skips these cultural sites as they have become synonymous with the countries they are located in. Spain, on the other hand is seen more as a leisure destination and rarely does one hear about the Museo del Prado or the Prado Museum as it is known in English. The Prado Museum is located in Spain’s capital Madrid and is emerging as Madrid’s top cultural and art hub since ...
Read On →A number of economic reports have come in lower than expected recently and the talking heads on TV are perplexed as to why a sudden downturn is taking place. Listening to their commentary, you will hear all sorts of fanciful explanations except the most obvious one – the massive government deficit spending that has been the reason for the apparent economic recovery has been frozen because the U.S. national debt ceiling hasn’t been raised by Congress.
The ...
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Recently, San Francisco Fed President John Williams assured the public that there won’t be runaway inflation in the United States. His remarks follow a long litany of comments from Federal Reserve officials that inflation is under control, inflation is low, and other variations of there simply is no inflation. People who know inflation history, and this includes very few people alive today, are getting little comfort from these remarks. Central bank officials have repeatedly assured the public that there is ...
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