I knew the Fed wouldn't let the market fall without doing something about it, they are going to raise the TAF amounts to $30 billion. Ben is watching over the panic button! PPT will never die.
and the games continue....I wonder how many will buy into that hook, line and sinker. We need to close hard in the red IMHO right into the close. Media is really trying to pump this market.
Of course they are. They are part of "The Powers"... whores for ad revenue... willing to say "anything to anybody for a buck".
we live in a communist country eventually there is going to be pain. just a question of what political party will be in power when it occurs... throwing liquidity at the problem is only going to prolong the hangover...
Fed has no choice but to push on string, there was a credit bubble and the country is becoming subprime. There is just too much debt and not enough savings. Its coming home to roost and the Fed can cut rates to zero and it will be the same problem. You don't solve a debt glut by issuing more debt. You let business cycles take place, recessions aren't the end of the world people!
But whats $30 billion going to do? Is this not trying to seal concrete cracks with drawing tape? No Central bank can save foolishness forever