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Investing & Financing: Enormous fed rate cut - your opinions
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Genius or bust?
I say bust. Now the sheriff's out of ammo in the middle of a gunfight. What happens when the market ignores the feds "emergency response" and continues to focus on the tanking financial institutions? Lets face it, we've got more billion dollar write-downs coming and The Street only has an attention span of 24 hours (at best).
The market opened down over 400 points despite Bernanke's "help". Ouch.
I hope I'm wrong.
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It is really looking like the US is headed to a recession. A three-quarter point rate cut and the market drops over 400 points.
People don't seem to have too much faith in a rebound at this point either.
I hope we are both wrong.
I am a Young Go Getter! -
Yea, I think Eric is spot on. Sheriff is out of bullets. We're SOL. Recession has to happen at some time. There is a big difference in recession and depression. I'm okay with recession -- wish it wouldn't happen, but we've got to correct at some point.
No Debt Plan -- Living Debt Free -
Posted By: KMulligan
Yea, I think Eric is spot on. Sheriff is out of bullets. We're SOL. Recession has to happen at some time. There is a big difference in recession and depression. I'm okay with recession -- wish it wouldn't happen, but we've got to correct at some point.
You said it Kevin. Recession is NOT depression. You can't expect exponential growth year after year. It has to come to an end, briefly, once in a while. Let's just get the news that the economy has slowed a bit, take the hit on Wall Street and then begin the recovery process.
I really don't think devaluing the dollar, killing the interest people earn on their savings, and overall just adding to the hype with severe "emergency" rate cuts is going to help us in that process.
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Bust!!
Recession is on the way!
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Ya know, we could really help ourselves out if we didn't have to keep borrowing against our kid's money and feeding a useless war... grumble grumble.
No Debt Plan -- Living Debt Free
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