We’re in trouble!
I guess we tackle inflation some other year…I just hope we aren’t setting ourselves up for a monster recession by not bitting the bullet on a small one now.
Bye bye dollar!
The fed has just admitted we have a big enough problem that they can’t wait 8 days to cut rates. Only Guns, God and Gold can save us now
Here’s the man who will save us all— http://www.businessweek.com/investing/insights/blog/archives/bernanke.jpg
Guess today is the day to buy into a 5 year CD or something. Bank I used has not reacted to the cut yet.
Oh my God… We have crazy people at the wheel. That is the dumbest thing from the Fed I have seen since sometime in the '70’s.
JoeyDVivre Wrote: ------------------------------------------------------- > Oh my God… We have crazy people at the wheel. > That is the dumbest thing from the Fed I have seen > since sometime in the '70’s. I don’t remember that ending well either…
Someone needs to warm Volcker up in the bullpen.
I guess inflation no longer matters. Pretty soon we will need a wheelbarrow full of money to buy a loaf of bread. Guess I should go stock up on wheelbarrows.
For a suprise factor you have to give it to him. Totally unexpected!
Except someone posted about it here yesterday…
Forget the wheelbarrow, just buy wheat, make your own flour and bread.
Well thats a cue to spend a lot more time at AF
I don’t think it was a surprise per se. I said that I thought we’d see 50 or even 75 bps. That said, this is crap. Fed fund futures are pricing in 70% chance of another 25 bps and the equity index futures are heading back down. The fed is entering a war with one gun and one round of ammo in which they have just wastefully fired three shots in the air IMHO
Good metaphor… I think I’ll just take some benzos and go to sleep.
So is this a Dumb and Inexperienced Bernanke, or a Dumb Bush? The Fed Chair is supposedly independent of the Executive Branch, but I can’t imagine that there wasn’t heavy jawboning by Bush, who had probably jawboned Paulson too.
Do I dare ask what oil will do today?
And what happens if 0 is not low enough? I guess we become a carry currency (if we’re not there already).
KJH Wrote: ------------------------------------------------------- > Do I dare ask what oil will do today? likely down quite hard. The recession fears which have been confirmed by the fed will have serious downward pressure, plus alot of liquidity hungry speculators will likely dump their profitable contracts. The LT dollar fears will be tempered today with the flight to treasuries