HARD WORK (October 3, 2014)
According to the latest figures, the unemployment rate in the States has dropped just below six percent. This is some way from full employment still, but it is hard to gauge structural unemployment at this stage. Many people who have lost employment since six years ago are unemployable by now. The technology has overtaken them in the meanwhile. The Federal Reserve is thus expected to jack up the prime rate of interested for the first time since the onset of the financial crisis. The dollar is already skyrocketing in relation to other currencies of note. Since the unemployment rate in Britain is just above six percent at present, the pound is likely to follow the rise of the dollar anytime soon. In other words, Bank of England will thus jack up the prime rate of interest, as well. So far, so good. I am getting richer by the day in terms of the Croatian kuna, which is tied to the slumbering euro. And all I am doing is following the key financial newspapers on both sides of the Atlantic with due care. Hard work, this, but highly rewarding. America and Britain are united behind me. Hooray!