Federal Reserve makes emergency rate cut

MSNBC ^ | 01.22.08

[Perdogg]

Federal Reserve makes emergency rate cut.

[listenhillary]

I hadn’t heard that. Sounds wonderful if he can pull it off.

[Alberta's Child]

The $150 billion is nothing. What has really driven the decline in the value of the dollar has been the enormous cost of that idiotic nation-building project in Iraq. The cost of that thing — most of which has been financed through off-budget appropriations, mind you — makes a $300 billion highway bill look like pocket change.

[gogeo]

BTW, the misery index was popularly touted by Ronald Reagan, not Carter. It was a dig at Carter...

Ding, ding.

It was actually something first used by Jimmy Carter against Jerry Ford. Reagan gleefully resurrected it against Carter...what's Jimmy gonna say, that it wasn't meaningful?

Jimmy's misery index was much worse than Ford's was.

[ctdonath2]

They’re part of the marketing division of the Sirius Cybernetics Corp.?

[Perdogg]

Right, but since a lot GOPer stayed home last November to teach the GOP a lesson, we got a democrat congress that wants to enact Charlie Rangle’s tax legislation.

How do plan on doing this??? There are plenty of GOP presidential candidates who want to cut the corporate tax rates and individual rates.

Until then we have to use monetary policy to get this done.

[jmyrlefuller]

Ben Bernanke should be fired. He is completely clueless.

He makes Greenspan look like a freaking genius.

[Perdogg]

What are your economic creditals? I am not trying to be ugly, but you made the claim.

[cake_crumb]

LOL, yeah, they were depressing. I remember a lot from that period, and I do remember people saying it was a depression.

[Alberta's Child]

Sounds like you have a good approach here. For my personal "liquid" portfolio, I moved to a 40%-40%-20% stock/bond/cash split last year -- since I may end up using a lot of this for a major purchase in the next few years. In my 401(k) account I'm at 75%-15%-10% stock/bond/cash split, with the bond portion weighted somewhat higher for all new money entering the account. I'm 30+ years from retirement.

I'm dollar cost averaging into everything, too . . . so I'm buying on a monthly basis regardless of whether the market is up or down.

[cake_crumb]

LOL...I love those books too. That was where he got the phrase from.

[RKBA Democrat]

“Ben Bernanke should be fired. He is completely clueless.”

Therein lies the punchline. He can’t *be* fired. It’s an appointed office. The Fed is largely isolated from accountability. It does what it wants, when it wants, for whatever reason it wants.

[Captain Kirk]

Ron Paul is the only presidential candidate talking about the Fed issue and has been for years.....though I suspect that the rest will start to ape his rhetoric.

[cake_crumb]

The Bicentennial was good. The Flyers won the cup, the 76er's won....the Eagles were a bit disappointing though. Still, it wasn't a bad year for residents of Phyllie.

[misterrob]

Perhaps or it could send a message to the markets that the US is serious about keeping things stable.

Too little too late? Better late than never? Damned if you do/don’t?

[misterrob]

With Jimmy Carter it had all the look and feel of one....

[Alberta's Child]

Said another way, someone who earns a dollar pays 38-45 cents in taxes whereas someone who has a capital gain pays 15-20 cents, tops. That’s a significant disparity that is unjust.

That may seem unjust, but a spread like that is absolutely necessary to compensate someone for taking the higher risks associated with major capital ventures.

Consider the example of someone with $10 million in his pocket who can either "save" it (i.e., put it in a bank account or buy U.S. Treasury securities) or "invest" it (i.e., start a company, buy an office building, etc.). The latter approach carries much more risk, but it also generates a lot more economic activity. Hence, the need to provide that someone with a tax incentive to "invest" his money instead of "saving" it.

[misterrob]

And offer a pathway for people to get off SS...

[CedarDave]

Just today’s ABQ Journal editorial cartoon. Nothing else.

[Redcloak]

My prediction: The markets will fall on new fears of inflation.

[rb22982]

Current inflation is 4.5%, not 1.5% according to CPI. Surely you think we should include other items besides food and shelter?