Except raise prices on everything we need to survive, great job! http://www.bloomberg.com/apps/news?pid=20601087&sid=aa9qsN2KBb0Y&refer=home
Shouldn't come as a surprise. After all, the Fed/Gummint's first (and usually only) course of action is, "print money, go further into debt". When that doesn't work or creates even greater problems, we are further hosed.
If the fed had hiked instead as many fools here on the board were arguing, maybe you'd be standing in the line at the bank trying to get your money out instead of whining on a message board about high LIBOR. What's worse?
Hey Mod... You've expressed how "tired" you are of my ranting, bitching posts about the Fed, Gummint, and Powers. Unfortunately <1% of Americans recognize the atrocities being foisted upon us. As we go forth, more and more of us will eventually "get it"... and you'll hear SCADS more bitching. Perhaps you need to work on developing a thicker skin.
TOTAL STUPID TALK... so long as your deposits are covered by FDIC, there is no reason to be part of a "run on the bank"... worst case, the Gummint prints money to honor FDIC guarantees... EVERYBODY will get their insured deposits returned.... even if a bit reduced in buying power.... a risk we ALL face in every monetary risk* we take these days... *includes bank deposits, money market funds, money-in-the-mattress
So why do people make bank runs if it's all covered by the FDIC? Why did people stand outside of Indymac when it's all so nicely guaranteed? Do you understand the effects of mass panic and paranoia? Nobody will give a damn about FDIC and Federal guarantees once mass bank runs start as every Joe Average will try to get their money out of the bank and hoard it at home. A panic can become self-feeding.
Panic or not, IT'S STUPID... Don't you get it? EVERYBODY WILL GET THEIR FDIC INSURED DEPOSITS RETURNED... All of those poeple who lined up for the bank run DON'T GET IT... LESS THAN 1% OF AMERICANS GET A-N-Y-T-H-I-N-G FINANCIAL (beyond, "I can charge it, let's get it") even if the cost has to be thrust upon the backs of responsible tax payers.