Economist Projection

hope you are surviving March Madness and Saint Patrick's Day. We have a Saint Patrick's Day tradition in our house to serve a meal that is entirely green. Perhaps you have a similar tradition. At the end is some information that I found about Saint Patrick's Day and the culture of your friends in Ireland. The beginning paragraph is from Vanguard. The middle section is some economic projections for your consideration that show things are pretty good except for Europe.


Vanguard

Hopes that the recovery is gaining strength were bolstered by encouraging retail sales data. Although warmer-than-usual weather across much of the nation may have triggered some earlier-than-usual spring spending, investors took heart that a stronger recovery may be finally blooming. For the week ended March 16, the S&P 500 Index rose 2.4% to 1,404 (for a year-to-date total return—including price change plus dividends—of about 12.2%). The yield on the 10-year U.S. Treasury note rose 27 basis points to 2.31% (for a year-to-date increase of 42 basis points).


Economist Projections - ECBI

According to the Electroindustry Business Confidence Index (EBCI) developed
by NEMA, Rosslyn, VA, USA,the current North American conditions jumped sharply in February, rising more than 18 points to 72.5, its highest level in more than six years. The survey’s measure of the degree of change in current North American conditions rose to its highest mark in almost two years, rising to +0.7 in February from +0.1 in January 2012.

The ECBI tracks economic conditions in North America, Latin America, Europe, and Asia Pacific regions. An economic reading above 50 indicates expansion. The index is calculated for the current economic condition and the condition in the future 6 months out. Here are the numbers for each region:

North America: Current = 72.5, Future = 75.0
Latin America: Current = 57.7, Future = 67.9
Europe: Current = 37.6, Future = 34.4
Asia Pacific: Current = 50, Future = 71.9

Bottom Line: All regions except for Europe are experiencing good economic conditions with the future projected to be better.


Saint Patrick's Day - Irish Perspective

Many people will be eating Irish food such as Irish Stew and Corned Beef and cabbage on St. Patrick's Day. Corned Beef is not an Irish dish. It is what Americans think the Irish eat. A more traditional meal would be ham and cabbage or bacon and cabbage. Some say that in Ireland on St. Patrick's Day the traditional green beer is prominent. However, in Ireland, many years ago, St. Patrick's Day is considered a holy day and Pubs were not open for business. There were no parades, no drinking or wearing green. Green was considered an unlucky color.

St. Patrick's Day Pinch - School children have started a little tradition of their own. They pinch classmates who don't wear green on this holiday. Wearing green is strictly a U.S. custom, as the color green is not popular in Ireland. Green is connected to the old green flag and a time when Ireland was not free. Green is also a color connected with hope and nature.

Some Irish Superstitions:

Moon, moon tell unto me,
When my true love I shall see?

What fine clothes am I to wear?
How many children will I bear?

For if my love comes not to me,
Dark and dismal my life will be.

This verse, recited by a maiden as she gathered special herbs by the light of the first full moon of the new year, could reveal a future husband and cause the girl to have a true dream about the man--if she first complied with certain requirements. With a black-handled knife she had to cut out three pieces of earth, bring them home, tie them in her left stocking, and secure the bundle with her right garter. The completed package then had to be placed upon her pillow.

When yawning, make the sign of the cross instantly over your mouth, or the evil spirit will make a rush down and take up his abode with you.

It is unlucky to offer your right hand in salutation, for thee is an old say, "A curse with the left hand to those we hate, but the right hand to those we honor."

If the palm of your hand itches you will be getting money; if the elbow, you will be changing beds.

Breaking a mirror brought seven years of bad luck, while two people washing hands in the same basin at the same time courted disaster.