Music icon Elvis Presley dies in Memphis, Tennessee. He was 42. The death of the “King of Rock and Roll” brought legions of mourning fans to Graceland, his mansion in Memphis. Doctors said he died of a heart attack, likely brought on by his addiction to prescription barbiturates.
Continue reading “THIS DAY IN HISTORY – Elvis Presley dies – 1977”
A few months ago, one of my offspring texted and asked if I had read or heard anything about the new Elvis movie that was playing in theaters at the time. When I said “no”, they responded back that they had seen the film, that it was very good, and these words: “I didn’t know Elvis was that big of deal back then”.
So allow me some latitude as I’m going somewhere with this…
In my mind, I thought: “Really? How could my kid not know? Elvis Presley was considered the “king of rock and roll”.
On the other hand, maybe it wasn’t so odd. After all, Elvis music was not played around my kids when they were growing up; and I, personally, have only considered the man, vaguely, as an American historical icon.
I considered my own cognitive associations involving Elvis:
– My dad had some Elvis gospel and Christmas albums.
– I have heard most of Elvis Presley’s songs at one time or another.
– I eventually learned that many Elvis songs were first performed by other musicians and blues singers.
Continue reading “Caught in a Trap: We Can’t Go On Together With Suspicious Minds”
The Fed is caught in a trap and they can’t get out.
Submitted by Tyler Durden on 12/11/2015 15:12 -0500
On June 29, 2006, the Fed did something it would not do again for (at least) nine and a half years: it hiked rates by 25 basis points, its 17th consecutive rate hike. Everyone knows what happened after.
On December 16, 2015, the Fed is expected to do something it hasn’t done for 3,457 days: hike rates by 25 bps, ending the longest period in US history (84 months) of zero interest rates.
How has the world changed in the interim? Some quick observations from BofA:
And here is the biggest difference: back then total debt/GDP was 61%, with total debt just over $8 trillion. Now, it is 104%, with the total US debt just shy of $19 trillion.
Good luck Fed.
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