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Discussion Starter #1 (Edited)
WASHINGTON – As the economic wreckage piles dangerously higher, the Federal Reserve is prepared to ratchet down interest rates — perhaps to their lowest point in more than four years — with the hope of relieving some of the pain felt by many Americans.

The convergence of a housing collapse and a lockup in lending has created the worst financial crisis in more than a half-century. Alan Greenspan, who ran the Fed for 18 1/2 years, called it a "once-in-a century credit tsunami," and conceded that he made mistakes that may have aggravated the economy's slump.

With a recession seen as inevitable, if not already under way, any Fed rate cut would be aimed at cushioning the fallout.
http://news.yahoo.com/s/ap/20081026/ap_on_bi_ge/fed_interest_rates

One gets the sense that they are 'grasping at straws' at this juncture.
 

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Lady? it would help if you (as well as anyone else) would post part of the article as a teaser in order for us with land line to see if it is worth while our time to download the whole thing........... thanks.
 

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Discussion Starter #3
On a high-speed connection, the article opens up at 'lightning speed', with a simple click.

How much easier can it possibly get??
 

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I have land line........regular telephone wires with no high speed... can't get no slower than that hahahahahahahahahha.

As a matter of fact, I keep a book by my side wich I read while downloading something that I would like to see..........welcome to the nowhere in the state of Oregon :thumb:

If you see any smoke signals in the horizon then that would me me with no WWW and trying to talk to you people..........:sleep:
 

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Information is Ammunition
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22,122 Posts
grasping at straws my ass. I think this is pretty much on schedule...
 

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BowHunter
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2,232 Posts
I have land line........regular telephone wires with no high speed... can't get no slower than that hahahahahahahahahha.

As a matter of fact, I keep a book by my side wich I read while downloading something that I would like to see..........welcome to the nowhere in the state of Oregon :thumb:

If you see any smoke signals in the horizon then that would me me with no WWW and trying to talk to you people..........:sleep:
come on Ponce,kick them squirrels in the rear,don't need any more smoke :rofl::whip:
 

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AKA The Dragon
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Just a question.
What is the current interest rate and how low can they go?
 

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Encouraging debt through artificially low rates is a major part of what has gotten us where we are today. They need to stop the insanity, but alas, they won't, so hold on to your hat. It seems we are destined for hyper-inflation.
 

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Watchin tha world go by
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On a high-speed connection, the article opens up at 'lightning speed', with a simple click.

How much easier can it possibly get??
some of us unfortunate country folks are still, well not so modernized yet.
 

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Deo VIndice
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6,108 Posts
LBB's...gotta love 'em.

I'm many miles from the nearest town, yet in rural Ga. I have high speed. But I was a LBB for many years, so I guess I can't talk! :)

(Low bandwidth ba#$%ard)
 

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BowHunter
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come on Ponce,kick them squirrels in the rear,don't need any more smoke :rofl::whip:[/QUOTE

Hey, hey, don't talk that way about my food to be........I hope that they taste like racoon meat.....or even as dog as far as that goes.
Aw,you'll like them little buggers if they eat acorn's,if they are in the pines,might as well eat a tree!! I've had both,one was near the worst,one near best.
 

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Discussion Starter #16
If you watched the news this evening you might have caught the Former Fed chairman talking to the reporters who cornered him on the deregulation issue. He said clearly that the Clintons and the Fed made the move along with our worthless congress and allowed all the rules to be lifted from Wall Street. They took bets and even invested in who would ruin the market and the economy. This really took place when the Bushwhacker got in office. They took bets on America it was aginst the law for years until Clinton and the Fed who was the most powerful group in Washington got congress to vote yes on a bill to F--K America over. Traitors every last one of them. And no one is going to do anything but talk and sit and watch it all come undone waiting for your savior Obama or McCain to make it all better. I say we all get together and have a meeting face to face in a small town in Colorado this spring anybody with me on this. If you say yes we need to start recruiting everyone from every state and bring them all together and make a show of who we are and that we want our country back. We need a million man rally.
 

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Discussion Starter #17
I have land line........regular telephone wires with no high speed... can't get no slower than that hahahahahahahahahha.

As a matter of fact, I keep a book by my side wich I read while downloading something that I would like to see..........welcome to the nowhere in the state of Oregon :thumb:

If you see any smoke signals in the horizon then that would me me with no WWW and trying to talk to you people..........:sleep:
OK Ponce, will do. :)
 

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Ron Paul

Seems like every thing he said about the bail out is on target so far. He said it needed to correct and this would only make it worse. Man I hate uppity business men. There should be some kind of law that you physically have to work in your own business and can not just speculate and invest and make money,basically making money out of thin air or because of inflation or sit and hold, stock market mentality!! GRRRR . Well at least for ten years and then you can be manager., I think that this is the major reason for this collapse,. Too many pencil pushers . Do not know what people do here for a living but I am just mad. I really think that this is one of the major under lying problems with the country and to what it has evolved to
 

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This mess was not caused by any one specific event and therefore cannot be undone, or helped, with any one specific cause. The current velocity of money is 0 which is why there is such a disconnect between Main Street and Wall Street. Main Street is about to feel the full brunt of the credit mess. Interest rate cuts by The Fed are not meant, at this time, to do anything in the short run for the common man but are aimed specifically at that short end of the yield curve which is such a crucial part of how banks make money, ie their net interest margin.

Since banks borrow short to lend long, the lower we take the overnight lending rate, the more "encouraged" the banks are to make those small business loans, etc. This is an effort to loosen up the banks to take in the capital provided by the Treasury and lend it out to Main Street before it gets really, really ugly.

All in all there is a very little chance for hyper-inflation at this time but it will be very, very interesting to see how quickly they take the punch bowl away when the economy signals signs of a turnaround (or if they will "at all").
 
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