first_imgFed Rate Increase Questionable Among Recent Stock Market Losses The performance of the stock market Monday morning brought about some anxiety among big U.S. businesses and other stakeholders while the Dow Jones dropped by 1,000 points and spent the rest of the day fighting its way back toward the break-even point.The morning started with an 8.5 percent drop in China’s Shanghai Composite Index, which erased all the gains made by the world’s second-largest economy so far in 2015. At 9:30 a.m., the Dow Jones began its 1,000-point drop from 16,459 points down to 15,454, which was completed in just 10 minutes. It closed Monday down 588 points, a decline of about 3.57 percent.”The interesting near-term impact is on the Fed’s September decision to raise rates or not.  Market sentiment was split roughly even before this event. Today it’s tilting toward no action in September.”For many, the Dow Jones’ steep decline on Monday removed any doubt as to whether the Federal Reserve will raise interest rates, which have been at or near zero for seven years. Prior to Monday, many pundits predicted that the country’s economy had experienced the growth needed for the Fed to raise the rates; now, they’re not so sure.”The real effect—if any—from the stock market volatility of the last few days won’t occur for a while,” said Sean Becketti, Chief Economist at Freddie Mac. “It will take time for investors to analyze the depth of the economic weakness in China, the effectiveness of the Chinese government’s responses, and the ultimate impact on various sectors of the U.S. economy.  The interesting near-term impact is on the Fed’s September decision to raise rates or not.  Market sentiment was split roughly even before this event. Today it’s tilting toward no action in September.”Former Director of the National Economic Council and former Secretary of the U.S. Department of Treasury Lawrence H. Summers expressed similar sentiments through Twitter. Summers tweeted on Monday based on what happened with the stock market that he believes this is “no time for an interest rate hike” and that “raising rates threaten Fed’s major objectives—price stability, full employment, financial stability.”Summers also hinted that Monday’s activity may be a sign of tumult ahead, since both the Dow Jones and Nasdaq are considered to be in “correction” mode for the first time since in four years after experiencing steep declines on Friday, August 21 (Dow Jones fell 531 points and Nasdaq dropped by 6.8 percent).”As in August 1997, 1998, 2007 and 2008 we could be in the early stage of a very serious situation,” Summers tweeted.One economist was not surprised by Monday’s turbulent stock market activity, however.”I think we’ve been expecting a correction in the markets for some time now so it’s not totally surprising,” Trulia Chief Economist Selma Hepp said. “We may expect some of the liquidity seeking refuge in the U.S. commercial real estate and mortgage securities, much less in the residential real estate. On the other hand, however, we will continue to see low mortgage rates as a result of more money going into treasuries.”Click here for updates on the S&P Dow Jones Indices.Click here for updates on the Nasdaq Index. Dow Jones Interest rates Nasdaq Index S&P Dow Jones Indices Stock Market 2015-08-24 Seth Welborn in Daily Dose, Data, Government, Headlines, Market Studies, Newscenter_img Share August 24, 2015 653 Views last_img read more

first_imgIf you’re looking for a place to stay – don’t forget to try Skyscanner’s hotel search.The Love Shack, Chateau Franz Backpackers, Franz JosephNew ZealandImagine if you will, a caravan which looks like it should be in a porno movie.Floor to ceiling red velvet walls, navy blue velvet curtains with small silver stars scattered across them.Cheesy doesn’t even come close. It really was just lacking a large mirror on the ceiling.Lucy Drury—Desert cave Hotel, Coober PedySouth AustraliaI also stayed in the most amazing underground hotel in Coober Pedy in Australia. The ceiling glinted with precious stones. The pitch blackness of the underground room can be a little scary, but offer a solid and heavy sleep due to the lack of daylight. The multi-coloured orange and brown sandstone walls were cool to the touch. The hotel was the result of the opal hunters of yesteryear. The underground caves, hotels, shops and churches of the town provide respite from the 40+ degree heat that makes the horizon shimmer and the flies flock to every bead of sweat whilst you wander around one of Australia’s more unusual towns. Alexis Keech—The Carlton Arms Hotel, New YorkUSAThis is an amazing hotel in which each and every room is decorated by a different artist. I stayed here 6 years ago with friends, on arrival to this historic mid-east Manhattan corner block we were handed padlocks to secure our rooms.The eclectic mix of artists work covered every inch of the halls and hinted at the rather alternative clientele that this building has had over the years. One room was painted very dark with hundreds of faces coming out of the walls, this led to a rather uneasy night’s sleep after an evening of over indulgence on 18 slice pizza and local beers. None the less this place comes highly recommended!John Scott—W Motel, SuwonSouth KoreaIn South Korea, a cheap hotel alternative is a love motel for amorous and unmarried couples. The most unusual one I have been in was W Motel in Suwon. Despite the large rooms, all we heard all night (and day) was the surrounding sound sex noises. The corridors were filled with Karma Sutra paintings and vibrator vending machines. On arrival you receive a ‘welcome pack’ containing toothbrushes, razors…condoms, lube and massage oils.The room contained a walk-in sauna, hot tub, mirror above the bed, a flatscreen which had plenty of complimentary porn and a computer if the cable channels weren’t good enough! Of all the love hotels we have stayed in, this was definitely the raunchiest and the funniest!Steph Darcy—A Beach on BarraScotlandNot exactly 5-star but certainly handy for the airport – I spent a night under a tarpaulin on a beach on the Scottish island of Barra. The same gorgeous, white-sanded, windswept beach which doubles as the runway for the Islands airport.As a bit of an airport/plane spotter (who can’t resist a viewing gallery) it was the best room I could have found. Only thing that would have improved it would have been a few air hostesses coming round with a trolley of complimentary drinks every now and then. And an extra blanket of course.Maurice FullartonDidn’t get lucky? Buy a copy of Unusual Hotels: Europe from Amazon10ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map Thanks to everyone who sent us their stories of unusual places where they’ve stayed. It seems that many of you have spent nights in strange places! It was a hard choice to pick the winners, but here is our selection who will each receive a copy of Unusual Hotels: Europe. RelatedAtlasObscura.com – website of the weekAtlasObscura.com – website of the week15 of the world’s best holiday souvenirsStruggling to find the right souvenir? This year, ditch the magnets and opt for more unusual gifts from your nearest and dearest – whether it’s a tin of air from New York, or a weird a wonderful can of the beer you fell in love with on that Munich brewery…Cool Courses: weird and wonderful golfing around the worldCool Courses: weird and wonderful golfing around the worldlast_img read more