Market soars as Fed cuts interest rate
“The tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally, ”
In a bold strike, the Federal Reserve slashed a key interest rate by a half point on Tuesday - the first cut in over four years - and left the door open to further relief to prevent a painful housing slump and ... via Lubbock Avalanche-JournalFull Story
#1 Sep 20, 2007
No this will not save the housing market. This country is in a " DEBT CRISIS " The middle class have no money, the working poor have no money, the only people that have money are the thieving corporate CEO's , Hedge Fund Participates and the upper 1% income earners and wealth BARONS. When so few control so much it always leads to economic disasters, in my opinion.
The only solution to the housing market, nation wide, is to increase the minimum wage to $15.00 an hour, eliminate all Federal Taxes on the first $50,000 of income, bring back the BUSH tax cuts, and increase the taxes on the wealthy or anyone making over $250,000.00 per year. Then and only then will we see any recovery on a broad base, people of this country will then be able to afford the purchases that the Fed wants so dearly.
Lowering the Fed Funds Rate and the Discount Rate is like vaccinating 1% of the population against smallpox or the flu virus.
You can have 0% interest rates but if you do not have any money , guess what, its simple, no one has any money to even pay the principal, let alone the interest on the debt.
We need to bring back the Old Bankruptcy Act, and everyone that is in any credit mess needs to file Chapter 7 immediately. Then and only then will the Congress wake up to the income diparities in this economy.
We are up to our eyeballs in debt, so Bernanke, making a political move is definitely sending a signal to the people that this country is on the brink of financial collapse and social unrest.
Keep exporting our manufacturing jobs and giving huge tax breaks to the companies that benefits from so called Free Trade and what you end up with is a monetary joke.
We are monetizing the debt by printing more money. Our dollar is tanking and the Treasurey is in a mess.
What the Fed Signaled is that we are anting up the PONZI SCHEME, go borrow more money, get into more debt, so we can support China's Economy, because if we as consumers "do not" China will fail , they will cash in their Treasuries and sink the dollar to record lows, simultaneously SENDING THE BOND MARKET TANKING and INTEREST SKYROCKETING> Oil Prices will rise as our dollar falls.
So get your act together and remember " cash is King , Queen and Pawn.
#2 Mar 26, 2014
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