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On the Road, Again!
By Dr. David Edward Marcinko MBA
[Editor-in-Chief]
A 5.8-magnitude earthquake rattled the East Coast on August 23rd and continued to produce aftershocks for several days. At least 18 aftershocks ranging in magnitude from 4.5 to as little as 2.0 followed the strongest earthquake to strike the East Coast since World War II, according to the US Geological Survey.
Aftershocks are smaller tremors that take place in the weeks and possibly months following a major earthquake like the one centered in Mineral, Virginia. They are usually felt in a smaller area than the original quake. The largest of the aftershocks so far was a 4.5-magnitude quake, according to the USGS. Tens of millions of people from Georgia to Canada were jolted by the initial tremor.
We felt it here in Atlanta too, as well as my home town of Fell’s Point, in Baltimore, Maryland [just north of Washington, DC], where I was visiting Johns Hopkins Hospital, engaging clients and lecturing at the time.
St. Patrick’ Church
Here is a reference file photograph of St. Patrick’s Roman Catholic Church in Baltimore, Maryland, before the quake and just down the street a bit from Johns Hopkins Hospital, toward the waterfront district.
Enter the Tremors
Now, here is the church on August 23rd, 2011, after a finial at the top edge of the spire fell, shattering a manhole cover far below.
The Damage Today
Fortunately, no one was injured.
This remaining damage is now the problem on this historic building.
Assessment
However, some ME-P readers and www.MedicalBusinessAdvisors.com clients are wondering if the finial collapse was due solely to the quake, or might the recent world-wide stock market tremors be involved in some way – you decide?
Conclusion
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Filed under: iMBA, Inc., Touring with Marcinko, Uncategorized | Tagged: David Edward Marcinko, Earthquake East Coast August 23rd, Johns Hopkins Hospital, St. Patrick’s Roman Catholic Church in Baltimore, Stock Market Collapse -or- Earth Quake?, USGS |
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Labor Day forecast clouded by bleak jobs report
This long Labor Day weekend got off to a shaky start today because of a weaker-than-expected report from the Labor Department, which indicated that the U.S. economy produced no net job growth in August.
In other news, minutes from the Federal Open Market Committee’s August meeting revealed that members were split over how best to help the economy. Meanwhile, consumer confidence hit its lowest point in more than two years last month.
On a brighter note, consumer spending and factory orders both increased in July. For the week ended September 2, the S&P 500 Index fell 0.2% to 1,174 (for a year-to-date total return—including price change plus dividends—of about –5.4%). The yield of the 10-year U.S. Treasury note fell 17 basis points to 2.02% (for a year-to-date decrease of 128 basis points).
Source: Vanguard
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Staying Out of the Market?
Dr. Marcinko – The conventional wisdom since the financial crisis of 2008 and 2009 has been that retail investors are staying out of the equity markets in part because they no longer trust that it is giving them a fair shake.
Yet, not too long ago, inflows into equity funds were starting to pick up again, but then came the most recent debt market pyrotechnics that had people withdrawing funds all over again.
http://finance.yahoo.com/news/Fund-Withdrawals-Top-Lehman-bloomberg-4228473188.html?x=0&sec=topStories&pos=3&asset=&ccode=
So, is the “earthquake” still to come?
Dr. Mark Lexington
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About the SEC
The SEC is a civil toothless tiger.
Graham
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