sundaynfl Posted August 17, 2007 Share Posted August 17, 2007 (edited) Wow!! Just as I predicted with liquidity injections not helping the market the Fed cut it's rate... Watch the market take off today... just like I predicted yesterday :pats self on back: Edited to add: BLOOMBERG "The central bank reduced the rate at which it makes direct loans to banks by 0.5 percentage point to 5.75 percent. Policy makers kept their benchmark federal funds rate target unchanged at 5.25 percent. It's the first reduction in borrowing costs between scheduled meetings of the Federal Open Market Committee since 2001 and Ben S. Bernanke's first as Fed chairman. " Edited August 17, 2007 by sundaynfl Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted August 17, 2007 Share Posted August 17, 2007 The govt is really throwing Hail Marrys out there. The Asian market got DESTROYED yesterday. Let me tell you if this does not ease the market we are in serious trouble. Quote Link to comment Share on other sites More sharing options...
sundaynfl Posted August 17, 2007 Author Share Posted August 17, 2007 The US has taken the lead and it has helped to stabilize the European markets this morning and I would expect it to stabilize the Asain markets as well. This being a Friday, I hope that the gains we will see this morning hold... many investors may not want to be long on the weekend. Quote Link to comment Share on other sites More sharing options...
TimC Posted August 17, 2007 Share Posted August 17, 2007 We should cut the Fed. Central banking and printing money like it was candy with no real value are what will destroy America. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted August 17, 2007 Share Posted August 17, 2007 Too bad the average borrower got no relief...the Fed Funds Rate remained unchanged, meaning any interst rate tied to the Prime rate remains the same. Quote Link to comment Share on other sites More sharing options...
Rebellab Posted August 17, 2007 Share Posted August 17, 2007 But if you really believe that this is a market correction, which I think it is with a little help from the sub-prime mess, won't it ultimately slow down the correction dragging it down further. The Stock Market took off over the last three months with little to no real correction. The money had to run out sometime and the sub-prime mess made it come to the top early instead of in the fall. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted August 17, 2007 Share Posted August 17, 2007 We should cut the Fed. Central banking and printing money like it was candy with no real value are what will destroy America. Shhhh...the American economy is a pyramid scheme (you have seen the pyramid on our currency right?), and it's working as long as everyone believes in it. Keep hope alive. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 17, 2007 Share Posted August 17, 2007 letting companies and dumb people out of bad decisions......shameful!!! but good for trading!!!!!!! Quote Link to comment Share on other sites More sharing options...
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