Tuesday, Jan 22, 2008
Why the Fed's panicky rate cut won't save the US economy
MoneyWeek: Why the Fed's panicky rate cut won't save the US economy
Don’t panic. It’s the number one rule in a crisis. But it seems that the people who run the global economy didn’t read that particular rule book...
Posted by mary @ 05:16 PM (247 views) Add Comment
1 Comment
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1. drewster said...
For gold bugs:
“Of course, it’s all good news for gold. Gold has sold off recently, almost certainly in part due to various players rushing to liquidate easily sold assets to fund losing positions elsewhere. It looked set to fall further today, but the Fed’s announcement arrested the decline almost immediately. We suspect it will be back above $900 an ounce before too long.”