Fed Joins Global Rate Cut, Trims Rate 50 Basis Points - Economy * US * News * Story - CNBC.com Well, looks like we called it finswin, too bad the rate cuts will not do damn thing to turn the economy around. FED just creating more inflation. Now they have everyone else joining in on the party.
Rate cuts did exactly nothing to restore confidence. The European market rallied on the rate cut news and are now tumbling right back down.
What a waste of time. When markets are acting on emotion, making policy adjustments aren't going to help. Let 'em keep selling, and you'll see more smart people like Buffett take advantage of the bargains. That's when the market bottoms, always under the real values, and when it recovers. Lowering interest rates was nothing but an emotional ploy in the US. Lowering the cost of credit by 50 bips is irrelevant when we're already so low. It's different in Europe and Australia where they have an actual need to lower rates. Damn I wish I was more liquid at the moment...
