Dont even bother with these idiots. These morons have been so conditioned that rate cuts are a good thing that they cream their shorts every time clueless Ben takes another .25 off. He wont give you an intelligent answer as too what good it will do because he has no idea. Once again pavlovs dog syndrome running amok.
This seems to be saying that there is an elitist group that is on one side of the fence benefiting while the avg Joe on the other side of the fence is taken to the cleaners. But that sounds conspiracy-theory-ish.... So does the comment in the media today that since Wall Street was expecting a cut, Bernanke had to obey, since not to do so would send the markets into a tailspin. But we all know that Benrnake is not influenced by Wall Street - it is common knowledge that the Fed is Independent of such influence. Otherwise they would just be functioning as a wealth-transfer tool. Good thing it is a level playing field.
I guess in your eyes, a complete DEFLATIONARY collapse of the banking system would be good for economic growth. Where do you think investment CAPITAL comes from to grow the economy and produce jobs??? Duh.
Some of you Bernanke apologist want to make me rip my hair out. No one said he should have turned a blind eye to the mess (self induced I might add) in the financials. But this rate cutting orgy has just gotten out of control. The best line I heard on CNBC today was some guy said if someone falls of a ship you send the coast guard, you dont turn the whole ship around. Bernanke is playing a dangerous game with all of our savings just to rescue a few banks who were mindless in their lending practices. If you dont see something inheritly wrong with that, I just dont know what world you're living in.
I believe in free markets. Let those banks and investment firms that engaged in a complete lack of risk management fail. It cleanses out the system and ensures a healthier future system - just like forest fires ensure healthy forests. Force bank depositors, investors and customers to do a little research before they invest their money somewhere. Just ensure that there is clarity of balance sheets. Ben Bernanke would make Milton Friedman vomit.
You call me dumb, meanwhile you are the one surprised & angered by the rate cuts. While I have long known & said that the rate cuts & dollar debasement will continue no matter how much you & others like you will show your disdain. Good luck with your Bernanke diatribes.
Yeah that's exactly my stance. You are quite the genius. The Pavlov comment is very comical, but I don't think you see the irony.
Just to rescue a few banks??? You obviously have very little understanding of the MAGNITUDE of what this current banking system has been facing . . . And the analogy that you heard on CNBC about "one man falling overboard" is a joke . . . All this from the typical ET Bernanke "basher" that is convinced that the FED permanently pumps money into the banking system via 28-day repo's. Give me a break.