Wednesday, Oct 29, 2008
Feds last throw of the dice
money and markets: Fed rate cut a DUD! Fed rescues go WILD!
Mr. Bernanke cannot drop interest rates below zero!
He cannot force banks to lend money!
He can’t compel consumers to borrow, or make people spend.
Nor can he turn back the clock to undo decades of financial sins … or repeal the law of gravity and stop investors from selling.
Posted by sold out @ 11:48 PM (240 views) Add Comment
1 Comment
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1. Fed Knucklehead said...
Fed knucklehead (aka Bernanke) says..... Wall Street told me to do it, and being the independent financial institution we are, I did it. I mean, 350 basis points cut since 2006 hasn't done anything for the economy, indeed its got worse, so another 50 won't hurt either; will it?
Yooo to cheap money and boom and bust economics. Sure, I know Keynes said that there is no justification for a cash rate less than the rate of inflation, but we can manipulate inflation indices, and Keynes is dead anyway.