Mirror mirror on the wall, who is the most influential of them all

A small ripple in one place which gives rise to big shockwaves everywhere around the globe. No, I am not talking about the butterfly effect or chaos theory here. I am referring to how the words of one man can have big effects on economies around the world. And if you thought it is someone like the President of the only superpower who wields such influence, then you are mistaken. Much more influential are the words of the Greenspans and the Bernankes of this world. The Fed chairman sneezes and the bourses all over catch a cold. He insinuates and hints at changes in the interest rate and investors world over lose their shirts. There are umpteen highly-paid analysts who move billions across continents, forever trying to pre-empt and outguess this guy.

In comparison, the Prez makes a big speech on how great the war on terror is going and how the bad guys are on the run and its all I can do to keep myself from yawning and switching channel.

Sigh...the ways of the world.

As we wait in anticipation of yet another hike in rates, isnt it interesting to note that the Fed rate has risen from 1% to 5% over a period of about 3 yrs !




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