If there isn't a problem; there isn't any solution. All these problem is designed and engineered by CBs; so the solution only shows leadership of our beloved CBs. Good trading everyone.
Jobs number came in at -4,000 plus they revised July down. Now I suppose Bernanke will do what he should have down a month ago, cut rates by at least 50 bps.
Maybe this debacle will give Bernanke the backbone to crack down on the idiotic speeches given by Fed members like that moron Poole. They look pretty embarrassing now, just like the zealots here.
No, the idiocy on his part was being too tight for too long. The rate should never have been above 4.5 at most in the first place. The flat to inverted curve was an incentive for banks to look for ways to make money other than buying money short and selling it long term, their normal way of making money, because that normal way wasn't making what it used to, and that situation persisted for a couple of years, whereas in the past, under Fed chairmen who actually had a clue, it never lasted this long. The result was this subprime mess we're now in, which is really caused by all the structured products created to try to squeeze more vig out of that flat curve. I'm content right now; made a killing yesterday on gold stocks, looks like today will be another big winner that way. But the general economy is getting hit hard, and the stupid part of that is that it was unnecessary, and brought about only by Ben's macho rate raising contest with that other fool, Trichet.
lol you know what would be funny is if you handout beggars get your rate cut and the market still tanks to shit along with the dollar while commodity prices sky