Tuesday, September 18, 2007

panic!!!

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 (3332 views)
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7 thoughts on “panic!!!

  • dam, just been pipped by Tyrell!

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  • tyrellcorporation says:

    LOL, no worries Geed! 🙂

    These guys just need their cheap credit fix eh? Let’s all get that bubble going again – pathetic.

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  • Looks like it is all goning to be alright now NO CHANCE OF A HPC EVER!!!

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  • 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.

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  • 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………………

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  • Surely this will keep the bubble going no?

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  • 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.

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