I didn't say that's what *I* want. I just said that's what I think they will do and why. BTW, I think they try to wait till 9/18 to cut, so they don't appear desperate. I think if they don't cut soon they will have a very long and nasty recession or depression instead of only a recession. Housing is going into panic, IMO. Rate cuts will help a little. To not cut says they want a bad recession now. I just don't see them doing that BEFORE the election. The real problems are the debt levels and additional twin deficits. They aren't EVER going to improve and at some point the world will not want payment in dollars for anything. Honestly, will you blame them at that point? The sad thing is that for 40 years nobody has even been attempting to do anything about it. Just print more and lend more, it will all be fine. Eventually either the piper must be paid, or else. I think "or else" will be chosen. I say by 2012.
To be honest I haven't had any debt at all in the past 15 yrs, so I might not know how current terms are derived, but from back in my CFO days when rates were 21%, I recall that when the Fed raised rates, the Prime Rate went up, and since I see them advertising things like "prime equity loans", I'm guessing they were based on the prime rate. I could be wrong. My experience is old history, anymore.
hohoho - Monday/Tuesday of what year? http://www.bloomberg.com/apps/news?pid=20601087&sid=aQClLsKHDT0E&refer=home
be careful what you wish for a rate cut. he only rate cut if the economy is in downward spiral and stock market is crashing hard. and depressed.
nobody has money to invest in the stock market or care to and no demand from consumers for housing etc...real recession bankruptcies job layoffs etc... so be careful what you wish for. ...companies bankrupt etc and no liquidity no bids.
vectors101: you must be very lonely when you talk to yourself on ET. oh...I just realized you have 10 posts per day so the above is probably a part of some longer dialogue.
LOL, they WANT a crash, huh? Might as well have sent an engraved invitation. Bears win. Wish I was short.
I hope they will engrave it in gold. then I would be on the right side everywhere p.s. seriously, not a good news for gold. Still I believe the resistance at $700 is broken and up we go a bit later.