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Old 8th March 2008, 10:42 AM
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Somebody has had the light bulb moment!

Fred Dickson, a market strategist at DA Davidson & Co said the rate cuts are failing to help spur economic activity and that the Fed "should stop cutting rates."

"The rate cuts simply aren't working and result in putting more pressure on the dollar and oil prices, which is compounding the problems in the credit market and the economy," Dickson said.

http://economictimes.indiatimes.com/...ow/2846954.cms
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Old 8th March 2008, 11:06 AM
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Re: Somebody has had the light bulb moment!

i thought the rate cuts are meant for the banks, and nothing to do with the economy or the people.
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Old 8th March 2008, 11:15 AM
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Re: Somebody has had the light bulb moment!

Quote:
Originally Posted by touchring
i thought the rate cuts are meant for the banks, and nothing to do with the economy or the people.
The strategy it seems was to try and get banks more money to loan, as well as get interest rates down so more people would buy houses etc. It backfired to some degree, as the banks were hit with a lot of refinancing at lower rates by their "good" customers. Unfortunately, the whole scenerio is probably more akin to giving a bottle of whiskey to an alcoholic.
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Old 8th March 2008, 12:30 PM
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Re: Somebody has had the light bulb moment!

Quote:
Originally Posted by bwhhisc
The strategy it seems was to try and get banks more money to loan, as well as get interest rates down so more people would buy houses etc. It backfired to some degree, as the banks were hit with a lot of refinancing at lower rates by their "good" customers. Unfortunately, the whole scenerio is probably more akin to giving a bottle of whiskey to an alcoholic.

Maybe, but from what i understand, they will be lowering rates until 1 percent before raising it again.

Besides, the consumer inflation is not a big deal. Come on, 99% of Americans can well afford to pay double or triple today's price for their bread, milk or chips. Though, i'm not sure if the $0.60 an hour chinese worker can.... there might be a bit of starvation, but it is not necessarily a bad thing to eat less! LOL.
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Old 8th March 2008, 01:24 PM
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Re: Somebody has had the light bulb moment!

Quote:
Originally Posted by bwhhisc
The strategy it seems was to try and get banks more money to loan, as well as get interest rates down so more people would buy houses etc. It backfired to some degree, as the banks were hit with a lot of refinancing at lower rates by their "good" customers. Unfortunately, the whole scenerio is probably more akin to giving a bottle of whiskey to an alcoholic.
It is much worse than that. It will syphon off valuable investment capital that is desperately needed to get the economy back on its feet and export it to more lucrative and safer investments in Europe and Asia. This is one of the things that Japan screwed up big time. This should be good news for them, as it will mean that their own saving will go back into jobs in Japan rather than houses in America.
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Old 8th March 2008, 08:03 PM
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Re: Somebody has had the light bulb moment!

Quote:
Originally Posted by touchring
Come on, 99% of Americans can well afford to pay double or triple today's price for their bread, milk or chips.
You must think we were all in gold!
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Old 8th March 2008, 09:00 PM
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Re: Somebody has had the light bulb moment!

Why is that this pile of shit lets me link to threads from emails but won't show me the Home Page?
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Old 9th March 2008, 02:34 PM
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Re: Somebody has had the light bulb moment!

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Originally Posted by clipper
You must think we were all in gold!

Life is getting real tough for the lower income folks in developing countries. Folks that spend half their total income on food. This inflation is not a joke.

Last edited by touchring; 9th March 2008 at 02:53 PM..
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Old 9th March 2008, 05:17 PM
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Re: Somebody has had the light bulb moment!

RD I hear you but I am down in Stuart Fl , You see how it is going in some of the areas here.

I am watching some of my friends here fight with desperation to save the homes.
Not just the avg joe. Im in Health Care even some fairly well paid people are having issues. Talking people making 25 to 50 an hour.

Not because they overspent on an overvalued home, but due to the farce of the high prices of insurance #1, poor job market #2 , and increased prices.

The idea that one gives money to the big business and they will expand business and create more jobs is just hogwash. Give big business more money and they expand jobs overseas.

What needs to be done is give the breaks to the "little guys" put money in their pockets and they will buy. If they buy then the big business will expand in the areas that the buyer is. Standard demand idea. Not saying to flood the population with new money, that would be foolish, Hitler loved it though, but cut the bills when possible. Sure you do this your going to have a year or 2 of decline but it will turn around.
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