Gimme Some Money

[burninglondon]

Pressure Drop

Yesterday, the FED cut interest rates by three-quarters of a point.  To give you an idea of how big this is, the last time the FED made a cut in interest rates this big in one day was 1984, and the last time they made an "emergency rate cut" was September 17th, 2001, the first day the US markets were open after...what Mr. Giuliani?  "9

Comments

[cirsium]

The good news is that karma works: irresponsible economics leads to not having money. And economies are self-correcting systems; recessions don't last forever (nor do bull markets, much as the investors would wish otherwise).

I guess the bad news is that you get fired and starve to death in the meantime, and the recession turns into a depression and then a world war. Huh.

[burninglondon]

Yeah, I'm with you on the self-correction thing. My damage is that it's not going to hit the people responsible for putting it in the position to self-correct in the first place. Those guys ate up and ran. Now the rest of us are stuck with the check. And the people left without money aren't the ones who were irresponsible.