If a surprise .75 rate cut doesn’t help, I’m not sure what will. Who says the markets are rational?
I don’t see a slowdown in the construction business yet. While the markets usually proceed the actual decline, it could also be that all of the panic could be strictly financial.
Of course I worry about my stocks, but selling now could be selling at the bottom?
Tell me how a rate cut help folks pay higher energy bills and the increase in property taxes from Greenspam's property bubble, and the higher food costs from higher energy and the redirection of agricutlural resources to subsidized alcohol?
I don't see how this helps anyone beside some banks that are about to go down.