moonman
09-19-2007, 02:36 AM
The Fed stunned everbody today with .5 cut in the Fed Funds Rate. The market roared it's approval, that is if you consider a .003 rise in the Dow a roar. The media aka 'town criers' or just noisemakers call it a roar.
Bernanke told Congress during his confirmation hearings that he "would toss money from helicopters to keep the system working."
This rate cut is the warming up the choppers metaphor. The impact will be more inflation, more money flooding an already skeptical market as to the value of USD's.
so does even this drastic and desparate move by the Fed get me off my October doom prediction? Nope. I think the market will see through the banks earnings statements. There is far too much downward pressure on the USD and the Fed rate cut is a sign of panic not prudent management.
See ya at the bottom. You'll know me when you get there. I'll be the one with a couple days beard growth and the bottle of Boone's Farm apple wine in my hand. An apple a day keeps the doctor away, right?
Bernanke told Congress during his confirmation hearings that he "would toss money from helicopters to keep the system working."
This rate cut is the warming up the choppers metaphor. The impact will be more inflation, more money flooding an already skeptical market as to the value of USD's.
so does even this drastic and desparate move by the Fed get me off my October doom prediction? Nope. I think the market will see through the banks earnings statements. There is far too much downward pressure on the USD and the Fed rate cut is a sign of panic not prudent management.
See ya at the bottom. You'll know me when you get there. I'll be the one with a couple days beard growth and the bottle of Boone's Farm apple wine in my hand. An apple a day keeps the doctor away, right?