Comments on: Panic? Dow Drops Anyway As Fed Cuts Rate 0.75 Amid World Nervousness

By: Pyst

Pyst — Tue, 22 Jan 2008 23:43:23 +0000

Maybe the US can finally act "conservatively", withdraw as world policeman now?

It's financially harmed us, and if we still feel the need for warfare let it be industrial warfare in the act of reclaiming our industry from around the world, then burning the NAFTA document after a tickertape victory parade.

Now that'd be patriotic.

By: pacatrue

pacatrue — Tue, 22 Jan 2008 20:27:44 +0000

I was a little surprised by the rate cut as well, because I thought we had heard some very worrying inflation numbers as well just a couple weeks ago. If inflation is a risk, you can't simply throw money into the pot.

By: casualobserver

casualobserver — Tue, 22 Jan 2008 18:30:39 +0000

“already solidly in a recession”, ………….in what class in journalism school are aspiring newsmen taught to create their own definitions? Can we at least get one actual negative growth quarter under our belts before we leap to the completion of the second?

I realize the level of caterwauling out there would lead one to believe the apocalypse is upon us, but let's not commit suicide before economic statistics actually confirm something beyond a correction in housing and housing related credit markets is upon us. How do the media soothsayers rationalize the GE results yesterday……..besides just ignoring them?

But, as you say, it is an election year. Not that any free market economy is going to stand still for the next 10 months waiting for its duly elected savior to remedy things, but it is going to be soooo much fun to watch our illustrious POTUS candidates adding economic brilliance to their campaign lexicon. Same for the illustrious bloggers.

By: DLS

DLS — Tue, 22 Jan 2008 18:28:13 +0000

I fear there will be more emotional, stupid insistence on loosening money and trying to over-spend even more out of a much-hyped-before-the-election panic.

By: Davebo

Davebo — Tue, 22 Jan 2008 17:38:38 +0000

Todays cut is very concerning but..

The Federal Reserve may cut benchmark interest rates by another half percentage point next week after cutting rates by three quarters of a point on Tuesday

I can't imagine they'd actually do that. At least I hope they won't.