10A
longboat Observer
YourObserver.com
THURSDAY, NOVEMBER 10, 2011
MARKET WATCH / FROM PAGE 8A markets? The bond market remains overpriced because interest rates are artificially low. The only debt instruments considered safe for the cautious investor, and yielding a decent interest rate, are A-rated corporate bonds and AAArated municipal bonds. There are several high-grade stocks to purchase for yields that pay 3%, or more a year. But these stocks are priced artificially high because interest rates are so low. Low interest rates force high-grade stocks to trade like bonds, based more upon the dividend rate, rather than the long-term growth prospects of the market. There are limited long-term growth prospects now, just as there are in Japan. Japan’s indebtedness of the 1980s is an economic matter with which Japan still wrestles. The market has been depressed in Japan for 20 years, and the U.S. is headed down the same road, all because of government debt. The conservative investor will have a few of those high-grade stocks, a few of those highgrade bonds and lots of cash. Because cash pays little, and due to inflation, cash holdings are deteriorating in purchasing power as time moves on. However, cash can 1) keep us out of trouble, and 2) be available when the stock and bond markets finally deteriorate and close in upon realistic values. All the bubbles that have been created by the government and the Fed over the last 30 years are a result of artificially low interest rates. Each time the government develops another bubble, the economy gets worse. This is the worst situation we have had in 50 years in America — much worse than the 1970s and 1980s. The wise investor will be judicious about investments, keep large cash balances and expect that the stock market will continue to go nowhere, until the government gets its act together by reducing spending and balancing the budget. George Rauch, Longboat Key, is chief executive officer of Bradenton-based General Propeller and a former Wall Street investment banker.
Cops
LONGBOAT
Oct. 25 Damage control 5:49 p.m. — 1200 block of GMD. Property Damage. A man reported damages to his rental vehicle, including a dent on the left door, scratches and a missing part of a mirror. The man said he didn’t know when or where the damage occurred.
Corner Drive. Emergency Message/Welfare Check. After an estate executor reported that a condominium unit had been sold and the son of the deceased owner needed to leave, the son told police that he would be leaving the condominium in four days. The estate executor said that the son threatened him at work and again by phone earlier that day. The son told police that the executor knew he would be out by the following Monday and must be up to something “shady.”
Jaguar on the loose
Oct. 27 Canine code 8:13 a.m. — 6900 block of Poinsetta Ave. Animal Nuisance. Three residents flagged down police to complain about a dog that is frequently left outside for long periods and barks constantly. Police found that the residence has had three dog nuisance complaints in the past five months and plan to make contact with the owner and issue a notice to appear for an ordinance violation.
Watered down 10:54 a.m. — 600 block of Buttonwood Drive. Code Enforcement. Police verbally warned a woman who was watering her lawn on the wrong day. The woman said she was new to town and didn’t know about the restrictions.
Not made in the shade 2:11 p.m. — 4300 block of Falmouth
5:37 p.m. — 600 block of Bay Isles Parkway. Suspicious Vehicle. A security guard told police that he allowed several vehicles to pass through a gate, including a white Jaguar. A nearby resident told him that the Jaguar driver was driving erratically and said he didn’t believe the driver was allowed in the area. Police couldn’t find the Jaguar or its driver.
Oct. 28 Trip of the trade 4:48 a.m. — 500 block of Forest Way. Fire. Police notified FPL about a tripped wire and transformer after receiving a report of a tree on fire and downed wires.
Not-so-silent treatment 7:31 p.m. — 6700 block of GMD. Noise Disturbance. A woman reported that an air-conditioning unit was operating loudly. Police didn’t think the sound was any louder than usual but advised the woman on the town’s noise ordinance.
Oct. 31 Pipe problem 6:30 p.m. — 6800 block of GMD. Public Service. Police responded to a report of a broken water pipe. Upon arrival someone had shut off the water.
Ghost rider? 9:47 p.m. — Avenue of the Flowers. Suspicious Circumstance. Police found a vehicle running with its lights on and the driver-side window open but couldn’t find anyone in the area. Dispatch contacted the vehicle’s owner, who said that he forgot to lock it and asked police to turn the vehicle off so that he could respond in the morning.
Nov. 1 The root of the problem 11:37 a.m. — 600 block of Buttonwood Drive. Suspicious Person. A caregiver reported that a suspicious 6-foottall man wearing a multi-color knit cap was knocking at the door and excessively ringing the doorbell. Police found a tree-trimming service business card at the door, located a company vehicle in the area and warned the company’s owner about the town’s ordinance prohibiting solicitation.
Nov. 2 Not missing the boat 10:04 a.m. — Off the Key. Unsecured Boat. Police found an empty boat aground on a sandbar while on water patrol. Dispatch contacted the boat’s owner, who said that he was getting supplies and would wait for high tide and remove the boat on his own.
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