This page contains a single entry from the blog posted on March 18, 2008 12:32 PM. The previous post in this blog was While they're printing up more paper money.... The next post in this blog is To wet the whistle. Many more can be found on the main index page or by looking through the archives.

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Tuesday, March 18, 2008

Down to the bone

The Fed just cut interest rates another 75 basis points.

The Fed also sent each financial institution under its jurisdiction a choice of either a toaster or 10,000 miles on Delta.

Comments (6)

The economy is gonna be soo spurred on, let the cash flow begin.

Dad, why doesn't the Fed just lower the rate to zero?

Because then when things go bad, they have nothing to do, Junior. Then they'd look foolish and useless.

So you mean the Fed just manipulates reality all along, but makes it look like they're trying to save us?

That's my boy, Harvard-bound.

Suggestion: They had better look for UL labels on those toasters and also check the voltage and polarity. Things that sometimes seem negative can suddenly turn positive and vise-versa

Question: Are those true air miles or reward miles? Wouldn't want to see anybody get hoodwinked.

Seems like the solution would be to give some incentives for Americans to save, bolster banks, pay down debt etc. etc. But here we have the interest rate dropping like a rock and providing no incentive for people to do the prudent thing and start saving. Might as well just keep spending since that toaster will probably be twice as much next year. Has anyone bought a loaf of bread and a gallon of mild lately? Good thing I have a platinum card!

Got Mild?

Save? Why! Since the Fed began the rate cuts to bolster Wall Street the interest rate on our savings has plummeted over one percent.

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