The beaches were closed here in the New York City area this past Labor Day weekend as the slow-moving and dangerous tropical storm Hermine approached the area. People were told to expect stormy conditions, strong winds and rain, and to prepare for flash floods. After the devastation of Superstorm Sandy nearly four years ago, nobody wanted to take any chances. Fortunately, this time, the storm took a slightly different path than was predicted, and its effects on the city were more or less contained to the beaches. So even though the sun was shining and the winds were calm, there… Read More
The beaches were closed here in the New York City area this past Labor Day weekend as the slow-moving and dangerous tropical storm Hermine approached the area. People were told to expect stormy conditions, strong winds and rain, and to prepare for flash floods. After the devastation of Superstorm Sandy nearly four years ago, nobody wanted to take any chances. Fortunately, this time, the storm took a slightly different path than was predicted, and its effects on the city were more or less contained to the beaches. So even though the sun was shining and the winds were calm, there weren’t many complaints about the extra steps that officials took in response to the National Weather Service’s (NWC) warnings. It’s still prudent to be prepared for all eventualities rather than ignore the clear signs of an impending danger — even if it might not materialize. These days, it feels like it’s the Federal Reserve that serves as some kind of National Weather Service for the stock market. The Fed does not know if there will be a storm — but what Fed governors do know is that the market conditions might be changing, and they keep telling us as much. … Read More