I am really not one to toot my own horn, preferring to just go about my job in relative peace and quiet, but today I got to run around the office in a cape. It seems that writing this post every day for the last seven years has turned me into a better writer and I won a nationwide contest for writing a paragraph about how I was a superhero and helped another would-be-renter purchase a home. Amid the applause of my peers, the pomp and pageantry drove home the reality that what we do everyday for work can be very rewarding. Often I get so bogged down by the encumbrance of a swelling mountain of rules and regulations that I fail to remember the positive impact that our industry has on individuals and families. Well done real estate professionals, well done.
The European Central Bank will start purchasing Bonds next week in the hopes of stimulating the EU economy. Their ambitions are not necessarily lower rates (which are at 310 year lows in France), but accelerating the velocity of money–getting the Euro to start spending their Euro. Mario Draghi would be a hero if he could get some of those Euros spent on gyros, thereby accelerating the economy in Greece–and the grease accelerating the cholesterol levels of the Euro. Consequently, the Euro spending more on medical care and the providers of medical care spending more Euro on the economy. That’s what we call the “velocity of money”.