Quote:
Originally Posted by LusciousDelight
The interest rate cut will prop it up for a time, but the concern there is that our debt financed economy will find it harder to attract more investments. Manipulating money supply like that to ward off a recession is tricky, but it's getting close to election time, and a recession would probably ensure a Democrat in the oval office.
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It will also ensure that 4 years from now .. whoever is in the white house will be blamed for all the problems. 18-24 yr old voters in 2012 won't remember who the hell GWB and his croneys were that put us in this position and will blame it all on who ever is at the moment.
Wall Street (collectively-US/Hong Kong/Euro etc) is the worlds largest casino.. and it's all a crap shoot. Which is why you should always buy what you love and what you own or at least get a fund that has shares in them.
Encouraging people to put money in to savings is the only real way to stabilize the economy for the long haul. Cutting interest rates is just a very small bandage.
On a semi related note (i didn't want to start a new thread)
this was in the Onion today. Pretty amusing.
2008-01-23, 12:33 PM
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