Make No Mistake About It - The Fed Paniced Today

[ThomWV]

The Fed paniced today and cut the discount rate by a half a percent. The market rose immediately, and it will continue to go up for a while. They paniced and maybe we should too.

Nothing has really changed. Take advantage of this brief retreat from the storm, get yourself as safe as you can, but be aware, what we have seen for the last week isn't over yet.

[dipsydoodle]

1. They kept their finger

in the dyke - for the time being.

[deacon]

2. It's stupid short term thinking. More bad loans will be given out.

It only compounds the problem. The experience of the last few weeks will be 20 times worse in the future due to this.

[BleedingHeartPatriot]

3. I thought the same thing. This doesn't do ANYTHING to correct the underlying systemic wide

problem of fake money masquerading as real cash.

MKJ

[CountAllVotes]

5. I just received an offer from Countrywide today

They wanted to lend me money on the house and required no credit check, no down payment, so social security #, etc.

How long do these people seriously think they came keep playing this loser of a game?

:kick:

[zbdent]

4. Don't forget ... a week ago, there was a $38Billion influx of money

into the stock market, to "stabilize" ... Last Friday ended in a "positive" note too ...

Makes me think of a certain few days in October, 1929 ...

[bahrbearian]

6. And we still have Inflation.