Wednesday, Jan 23, 2008
More "fine tuning", coming up!
Bloomberg: Bernanke to Cut Rates Further, Faster to Buoy Growth
"Federal Reserve Chairman Ben S. Bernanke has decided inflation concerns have faded enough to let him cut interest rates further and faster to keep the U.S. from tipping world economies into recession". " Futures trading suggests the Fed may follow up with a cut of as much as another half-point Jan. 30, bringing the decrease to 1.25 percentage points in eight days".
Posted by alan @ 01:37 PM (484 views) Add Comment
3 Comments
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1. hpwatcher said...
The same old trick......trying to put off the inevitable.
2. tyrellcorporation said...
'Your Grandmother's cat is sat on her lap and is on fire. The only thing that can save it is wee on it. You know it's not right and Granny will be shocked but you do it anyway. After everyone is covered in wee and the cat is STILL on fire your mate has to come into the room and start weeing too. The bloody cat fire won't go out and there is wee everywhere! No matter how much wee goes over the cat and Granny the fire won't go out. Soon Granny bursts into flames too and no amount of weeing will save the situation'.
Milton Friedman, 1952
3. alan said...
Tyrellcorp,
A very good quote - I have the feeling we can't outrun the problem any more...as the story goes...
The Queen kept crying "Faster!" but Alice felt she could not go faster...
"Now! Now!" cried the Queen. "Faster! Faster!" And they went so fast that at last they seemed to skim through the air, hardly touching the ground with their feet, till suddenly, just as Alice was getting quite exhausted, they stopped, and she found herself sitting on the ground, breathless and giddy. The Queen propped her against a tree, and said kindly, "You may rest a little now."
Alice looked round her in great surprise. "Why, I do believe we've been under this tree all the time! Everything's just as it was!"
"Of course it is," said the Queen: "what would you have it?"
"Well, in our country," said Alice, still panting a little, "you'd generally get to somewhere else -- if you ran very fast for a long time, as we've been doing."
"A slow sort of country!" said the Queen. "Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!"
Lewis Carroll: Through the Looking-Glass