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They don't like it on Wall Street
Wednesday, October 31, 2007
As expected, the Federal Reserve cut short-term rates by a quarter-point today, but the CNBC crowd was clearly disappointed with those words about inflation creeping back into the policy statement. 
The reply came quickly, "Has it ever been anything other than that?"
Good luck Ben, you're going to need it.
7 comments:
The effect appears to have been fleeting. Now everything is going up again - stocks, oil, gold, long-term interest rates. That's more like it.
Fed decoder:
inflation risk = currency dump risk
economic recession risk = OTC derivative blow-up/bank crisis risk
25 bp lower = bank crisis risk slightly outweighs currency risk
It's called your dollars have become more worthless yet again, Tim!
Even more worthless than they were before? How can that be?
It just occurred to me that a major financial event might get Ron Paul elected. How near is that CDS-CDO crisis? It's already got O'Neal booted.
FWIW, Jim Rogers "endorsed" Ron Paul, although he claims to be apolitical, in a very interesting series of interviews on FT.com, where he reiterated his preference for agriculture, renminbi, swiss francs and yen, although a lot of your readers seem not to like the guy (while paralleling his strategies).
At this rate, will we be better off investing in actual guns and bullets?
I thought we were already scraping the bottom of the barrel in government fiscal responsibility, now I see that they're just getting started.
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