The Reckoning of St. Valentine
The domain became inactive at the end of July Read More. Apply Now. Share this article on. Comments Add Comment. Your Name. Thus were people persuaded to open their purses a little more widely…in order to get something for nothing.
And thus did they end up getting nothing for something. The money coming out — on the income statements at least, these companies paid no dividends — was phony. The financial newshounds may have been asleep in the kennel. But they woke up fast when the Enron story got tossed over the fence. The numbers were faked, they finally realized. The wealth was an apparition. Among the "next Enron" candidates whose cuffs are now being sniffed is the telecom Nextel. Like so many New Economy wonders, Nextel produced income statements, but no net income.
Investors, lenders, and others who should have known better are now squirming in their seats. Who knows what might happen in the telecom business? Why procrastinate? Fearing that they might not get their money back, they sell Nextel debt. People who provided capital to Nextel, in the hope of getting more than the going rate, are now getting what they deserve. So, even as the Fed lowers interest rates, companies such as Nextel have to pay more for credit.
Even though investors expect the economy to rise out of recession… higher real borrowing costs push it in the direction it deserves to go. And even though the recession is supposedly over…people are likely to get a slump that they never imagined. With big hugs and kisses for all Daily Reckoning readers on this St. Bill Bonner February 14, — Baltimore, Maryland. Eric elaborates, below. Home prices rose 6. They only rose 4. And as reported here yesterday, both businesses and consumers went more deeply into debt last year.
But uh oh…boo hoo…economists tell us it will end next month.
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- St. Valentine ~ The Imaginative Conservative.
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- International Monetary Economics.
And we have a hunch others are going to miss it too…. The first Valentine was a priest who was arrested during the Roman persecutions of Christians.
When brought before the emperor, Valentine refused to renounce his faith and as punishment was placed under house arrest. The head of the house holding Valentine challenged the priest to show the true power of God.
Soon, Valentine restored sight to a young blind girl and the whole house converted. Once word of the miracle and conversion reached the Emperor, Valentine was executed.
Time and Festivals: sundials | bunebyhufyfa.tk
The second priest, the Bishop Valentine of Terni, was also a miracle worker. Known for his ability to heal physical disabilities, a scholar sent for the bishop to heal his only son, who could not speak or straighten his body. After a night of prayer, the bishop healed the boy and the family, along with visiting scholars, convert to Christianity. Shortly after the bishop was arrested for his miracles and, after refusing to convert to paganism, beheaded. It was only in the early s that cards were mass produced for the holiday.
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In most of those countries the holiday contradicts aspects of their religion. Sure we may no longer whip each other with sacrificial hides, but we all enjoy treating and being treated by those we love.