Tuesday, Sep 18, 2007
panic!!!
BBC: Fed cuts interest rate to 4.75%
So clearly the plan is to fiddle the inflation figures to high heaven, even more than they have already been doing. Clearly shows that the economic powers that be are completely clueless when it comes to fiscal policy. Panic 0.5% rate cuts, banks being bailed out by tax payers money, central banks ploughing cash into the markets. They are going to have to rewrite the Econonics curriculum in schools after this palava!
Posted by geed @ 07:38 PM (670 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. geed said...
dam, just been pipped by Tyrell!
2. tyrellcorporation said...
LOL, no worries Geed! :)
These guys just need their cheap credit fix eh? Let's all get that bubble going again - pathetic.
3. Urine Trouble said...
Looks like it is all goning to be alright now NO CHANCE OF A HPC EVER!!!
4. whiteknight said...
the system is a bust.
but naturally there is some amusement as people try to put their finger into the iceberg hole to stem the rising water.
Its inevitable. Like the Titanic once it was holed. The correct thing to do was to make the calculations , realise you were buggered and go and drink a whiskey somwhere , reflecting on what could have been if you had had a brain at the time.
5. David20040_0 said...
My oh my,
This was sensible. So now a run on the dollar and the US reserves that are left then. They had better be good to those Chinese by whom their economy is propped up.
On Radio 4 this morning with John Humphries some guru in the states said this was the LAST thing they should do and that like us he felt the states should WAKE UP and start saving.
I do wonder honestly where this is going to go..................
6. david20040_0 said...
Surely this will keep the bubble going no?
7. geed said...
I think the crucial thing is that the bubble has already popped in the states, a half a point reduction will not be a bigger enough plaster. It will just fuel inflation later, inflation doesnt go away it just gets hidden.
8. This comment has been removed as it was found to be in breach of our Blog Policies.