Fed cut disappoints Wall Street

Dec. 11 - A big decline on Wall Street as the Fed cuts interest rates again, but less than some had expected. The US central bank cut interest rates for a third straight time -- lowering the fed funds rate another quarter point to four and a-quarter percent. Many on Wall Street had been betting that a half point cut would be what the economy needed to help it climb out of a housing slump and a sub-prime mortgage mess.

Category:

News & Politics

Tags:

• sub-prime
• mortgage
• economy
• Business_GF
• wall
• street
• decline
• fed
• interest
• rates
• us
• central
• bank

[jinjin16]

it is if you dont live in the US and you want some payback with all the greedy ass MOFO. But it can get out of hand for the people who live iin the US. There is definitely parts of the US that will turn into chaos (dont know which parts) if the jobs goes, draft gets reinstated, lootings, etc. It can turn really bad.

[jinjin16]

Every economy needs a recession after a boom anyway. A collapse is enevitable. The only problem was the bubble is now so big so the collapse will be greater. Can you imagine, according to Jim Cramer, 7 million people took out sub-prime mortgages, multiply 7 million by an average house and you're talking beyond trillions of dollars. WOW! that is one big mess.

[jinjin16]

no doubt this is a good idea, only if there is gold to back it up. however even if the US has still gold to back up the currency this would mean that the US can only print a certain amount of dollars in ratio to the gold reserves. That is not to the interests of the US Feds where they have backed it up with middle eastern oil.

[StorminNormin1977]

Even if it is done on a small scale I think it would be good simply to allow gold and silver backed currency to be used.

[StorminNormin1977]

The other option is just let it slide. So either expose the truth, or keep denying & allow the collapse to happen... Very frustrating, however I will continue to educate others about what going on.

[jinjin16]

I dont think that is a good idea for your country. You'll probably do more damage to your country if you back it up with gold & silver. I think your feds stole or sold your precious gold & silver from fort knox, hell Ron Paul has been trying to gain access to see if there are any precious metal but he cant even get in. Your country is in big trouble mate.

[mongobobo]

Great. So people like me who didn't behave like a retard and buy a house they couldn't afford with an ARM are being punished for keeping their money in the bank. I'm I the only person in this country not saddled with debt and has money in the bank?

[StorminNormin1977]

(part 3)

I think at the very least we should allow for gold and silver backed money to compete with fiat. This is Ron Paul's position. I support this and I support Ron Paul!

[StorminNormin1977]

(part 2)

The gold standard allows for our money to actually grow in value. Also it is an additional power point for the people since historically citizens can call the government on abuse by handing in their gold/silver certificates for the actual metal. The down fall is that there are no bailouts, the economy only grows as more actual value is created. Also businesses and industries who have lobbied for money would not be able to be subsidized without increased taxation.

[StorminNormin1977]

It is so refreshing that so many are waking up to how monetary policy effects our country & our lives. The real issue is that there are pro's & con's to both positions. The Fed allows for quick economic growth since we have a reserve currency status based on fiat. This allows for quick bailout when industry gets in trouble. However this also creates huge bubbles that will burst and allows for complete depletion of the value of the monetary system. All paper money eventually deflates to zero.