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Ginger

If you follow the economy, what is your opinion of today's FED action?

SULLY:

"Freedom's just another word for nothing left to lose."

Ginger:

Nothing ain't worth nothing but it's free/

SULLY:

Read it and watch all day. I will never have your understanding of economics. :(

Ginger:

That's OK, Sally. Congress doesn't understand it either.

SULLY:

:) Thanks.

Dimview09:

I think they have made another mistake and a useless move.

Ginger:

I should have posted the link with the question. The full text of the statement link is in my comments. It is not just the prime rate that is important.

Dimview09:

Ginger this is scary for me, I am absolutely baffled by this move it will not help. We need to find a bottom and build some confidence. I really can't wait to see the inflation that will be coming.

Ginger:

The FED cannot create jobs, but they can free up the credit market. Buying up troubled assets should help. That was what TARP was supposed to do, but then Paulson managed to screw that up by just handing the banks an early Christmas present.


Today's stock market rally was nothing more than a feel good rally. When the dust settles and they realize that the FED actions were desperate actions, the market will resume its decline.

Gbob_north:

It's a band-aid, until we cut spending, we'll be losing more than we make. That's going to cost us public works, the kind many people depend on, but if we can't afford them, we'll lose them anyway.

Gbob_north:

I expect we'll be creating more public works and going deeper into debt, since that makes the most people's lives easier, and that's what voters want, easier lives....

Ginger:

Thank you for your insght, gbob_north. Looking at the furures this morning, it looks like the glow has already started to dull on Wall Street.

Globally Interested:

I see it as an important step to help free up the credit markets. The lack of available credit is hurting not only the housing market, but also the automobile industry and several other businesses.

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