A day of negative news and some positive: The stock market was down big, but the plus, Taylor closed on a condo

Posted By on August 26, 2022


It was an ugly day on Wall Street as investors reacted to comments from Fed Chairman Jerome Powell who indicated “that the Federal Reserve must continue to raise rates” and “hold them at a higher level until they are confident inflation is under control.”


Some economists highlighted in Barron’s Magazine last week, have suggested that this time “inflation is sticky.” Alfonso Peccatiello noted that services and rents represent a growing portion of inflationary pressures. Vincent Deluard, says that “the current inflation is the result of three shortages; labor, energy and trust. These factors can’t be cured by a recession and are resulting in structurally higher inflation that investors — and central bankers — appreciate.” All in all, it is a gloomy sentiment as we try to exit the shortages and worldwide slowdown due to COVID19.


As for the positive news.

Taylor closed on the condo he looked at in July. I am excited for him. I was shocked when about 5 minutes after he sent me the photo after signing the closing document … a Zillow email arrived updating me that a property I had saved was sold (Taylor’s signing appointment was at 3:30PM and the Zillow email was at 3:59PM).

We are anxious to see the condo but will have to wait until the current tenant is out in September. No problem .. we’ll take him to Chili’s tonight and celebrate anyway. As he commented, old time memories when we first moved to Cincinnati.

EDIT add: And we did have a nice evening with Taylor and Megan … also his realtor gave him an artist rendition of the front of his building. Very nice!


Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
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