Fed cuts rate to 2%

More than 3 points since September.

Comments

  1. Someone said on TV the other night that a big cause of high gas prices is the Fed cutting rates which weakens the dollar which is what oil is priced in. He said the oil was up 129% priced in Euros and 331% priced in dollars. I can’t remember the period of time, but it doesn’t matter since the comparison is for the decline in the value of the dollar. It may be good for the exporters, but it’s bad for the importers and the American consumer since we import so much junk. I deal strictly in cash and have no debts, so lower interest rates do nothing for me!

  2. Except create inflation that makes the things you buy more expensive.

    I think all of this economic stimulus is going to seriously bite the U.S. in the backside. We’ve developed into an economy so dependent upon consumerism that we can’t pull the drip line.

  3. Well, I mean do nothing “good” for me!

  4. Al Goreleone says:

    Buying things isn’t as much of a problem as buying things for which we have to go into debt.
    (See District, Elmbrook)

  5. Yes, but with a lower rate it should cost us less in the long run. They can only borrow a certain amount.

    I still think we’re going to look back and realize the voting public didn’t get what they thought they were buying.