LOL@Washington

[T-Rod]

The stock market is going to crash at the open today.

World stock markets crashed across the board yesterday. I'm talking the 5-7% in a day type crash.

Why?

Because the Fed refuses to acknowledge that we have huge DEFLATION not inflation because of the creidt and home crises.

AND

The world is laughign at a $145B fiscal stimulus package which will have zero and I mean ZERO effect in jump starting the economy.

If you are a consumer and you are about to default on your home equity line because the interest rate just adjusted and it doubled, are you really going to go out and change your spending habits because the government just gave you a $150 tax rebate? Puhleeze.

This Fed is completely clueless and it's going to take years to recover.

[T-Rod]

Keep in mind...

The President has almost no power to influence the economy.

The Congress has more power since they have the power of the purse, but it is still small.

The Fed has ENORMOUS power to influece every aspect of the economy since they control interest rates and money supply.

The common misperception in the press is the President is in charge of the economy. Simply not true.

And when the Fed decides to sit on the sidelines during credit disasters, you get massive selloffs and recessions.

[T-Rod]

LOL... I guess the Fed reads BTP.

About 30 minutes after posting they had an emergency announcement that they are cutting rates.

LOL

P.S. Long-term this is good. Short-term I'm frustrated because I was buying the big down open. LOL

[emmasdad]

[black_knight6]

[emmasdad]

[black_knight6]

[MVPSPORTS]

[black_knight6]

Well, it's not like the US would just STOP all commodity purchases...worst case it'd be like a 25% drop...and china could easily absorb that.

[iceman5]

[T-Rod]

[emmasdad]

[T-Rod]

[Notorious_JC]

[black_knight6]