Fed Reserve steps in at last minute.....
 

Half an hour before the markets open on Wall Street the Fed Reserve cuts interest rates by 3/4 percent....

I don 't think that's going to be enough to halt the blood bath, but we will see...:pimp

stupid move

shit i was hoping for the blood bath so now what do I do???

no recession is coming.. a slight drop maybe, but a recession... uh, no.

Wall street investors wanted the whole point.

by tons of indicators we are already in one.

The Federal Reserve is illegal

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."

Thomas Jefferson

To say no recession in the face of worst housing recession since 1930, 90-100 Usd oil, high inflation and possible implosion of few financial companies is really stupid.

"The only two exceptions of a housing recession not leading to economy-wide ones were those during the Korean War and the Vietnam war when a massive fiscal stimulus rescued the economy. What we spent ? or waste ? on Iraq is not sufficient to get that fiscal stimulus; we would need another equivalent of $200 billion fiscal stimulus to do the job."
From:
http://www.rgemonitor.com/blog/roubini/223214/

OK, then there is reality which most of us live in... :winkwink:

There is the Fletch I remember. Glad to see you are ... well by my thinking just as nuts as always but still good to see.

:thumbsup

and as I stated somewhere else:

"This is NOT A LIQUIDITY PROBLEM, it is a SOLVENCY PROBLEM"

rate cut wont help shit, when you have two biggest monoline insurers going to BK very soon, which is going to be followed by real "shit hit the fan" situation with a lot of banks.

I like Jim Cramer's solution for the economy

that cut isnt going to do shit. watch.

explaining why this move by the fed was the worst thing that could have ever happened on gfy would be pointless as most of you are old uneducated hillbillies ( baddog, gatorb etc etc)

so I will jusy say this

this mornings cut just lit a short fuse

take cover

yes, europe is already tanking. FED stoped to be able to help their wallstreet budies....

Thomas Jefferson is not the law. And he's dead. :error

Spoken like an American. You will wake up one day and realize it's too late and you're fucked.

it's like putting out a tire fire by trying to smother the flames with more tires

You create your own reality. :thumbsup

Name one industrialized country that does not attempt to control it's currency. So what is the big mystery. We do it too.

This is great news! Now everyone who has a house can refiance.... Oh, wait... Their houses have dropped in value so much they owe more on the house than it's worth so I guess they can't!

my house is still appreciating....my area didnt get hit like everywhere else......

Keep giving the kids money and they will keep spending it like it is coming out of their asses.

I rent... but the house I live in was $725,000 when I moved in 2 years ago.

It is now $640,000...

its a nice drop, almost a full point, very aggressive..but in the long run a stupid move, should have left it, so we could have the bloodbath and on to recovery, now the pain is just prolonged.

FED isnt really Wallstreet bitch:

http://www.elispics.biz/new.gif

they better cut today again :1orglaugh

although my portfolio is still invested 75% long and 25% short put options, I agree that some kind of bloodbath is neccessary.

Are you still paying the same rent per month to cover the owners Mortgage? If you are then that sucks to be you as well, its just like owning really except you're throwing money away two ways.

1. You're renting and not paying into your own mortgage
2. You're overpaying rent in a house that costs less to pay someone elses high mortgage.

Speak for yourself.