8:17 a.m.
Isn’t this how it always starts?
Meteorite Crash Causes ‘Mystery Illness’ in Peru
“A village in southern Peru has been struck by a mysterious illness after a meteorite crashed to the earth around midday Saturday, an official with the local health department said. Villagers heard an explosion and saw a fireball that many thought was an airplane crashing near their remote village . . . Residents later complained of headaches and vomiting brought on by a “strange odor,” according to health department official Jorge Lopez.”
Those people aren’t sick — they’ve been infested with alien spawn! Get out the nuclear warheads! Blow the place to smithereens! Somebody DO something before it’s too late!!!
3:35 p.m.
The Fed cuts its rate by 50 base points and the market goes wild!
Stocks Soar After Fed’s Big Rate Cut
“A jubilant Wall Street barreled higher Tuesday after the Federal Reserve cut its benchmark interest rate by a larger-than-expected half percentage point. The Dow Jones industrial average surged more than 330 points after the Fed announced its move — its biggest one-day point jump in nearly five years.”
What’s not being much remarked upon, amidst all the popping of champagne corks, is that the U.S. Dollar lost ground against nearly every single major world currency today:
Dollar Drops to Record Low Versus Euro as Fed Cuts Half Point
“The Dollar Index against six other major currencies sank to the lowest since September 1992 . . . The dollar breached the prior record low of $1.3927 per euro (while) the U.S. currency also fell to a 30-year low of 98.74 U.S. cents per Canadian dollar.”
The dollar also fell against the British Pound, the Australian Dollar, the Swiss Franc and the Swedish Krona. It doesn’t matter how many points the DOW Jones gains if the dollar continues to steadily sink against the other world currencies.
In other words, that sweet little Pauric Sweeney bag you’ve been eyeing? It just got more expensive, literally right in front of your eyes.
“I now cost $18.55 more than I did just three hours ago!”
