General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFed cuts rates half a point.
Now that will stop the Corona virus for sure.
lunasun
(21,646 posts)Amishman
(5,559 posts)this gives a little breathing room for most everyone with variable rate loans (assuming they aren't indexed to LIBOR instead of a US rate)
brokephibroke
(1,883 posts)Amishman
(5,559 posts)Rate cuts and other preventative measures might keep us from botching the final and ending up in summer school
uponit7771
(90,363 posts)... interest rates here will fix that
Mike 03
(16,616 posts)Asian cruise I've always dreamed of! Then I'll go to Costco, a concert, an airport, a movie theater, a convention and a soccer game!
brokephibroke
(1,883 posts)Plenty of luxury hotel rooms for cheap in Shanghai these days, stay an xtra week!
Mike 03
(16,616 posts)spanone
(135,873 posts)That is all trump cares about
spanone
(135,873 posts)SWBTATTReg
(22,166 posts)tidbits out is going to juice up the economy when people are afraid of the CV and thus, are taking simple precautionary steps, e.g., not going out as much, shopping a little less, not shaking hands as much, etc. Not panicking like rump is, because he is looking at this whole CV in one way only, his reelection. He doesn't care about the CV deaths, the pain and / or suffering, his top priority was get the economy going and seal his reelection chances.
What a joke. More concerned about money as usual. His money. I bet he's in debt up to his eyeballs and pays a fortune in interest charges so that's why he's been singing like a harpy for lower interest rates. Again, another gross personal conflict with the needs of the US, vs. his.
I remember the fear that dominated 2008 when wham, the stock markets and real estate markets went into a tailspin. And all of this occurred during the changing of the guard between newly elected Barak Obama and George Bush, jr. At least Mr. Bush, Jr. had the grace to involve the incoming president-elect in the dire economic matters going on in 2008.
I just hope that if and when something similar happens during rump's administration, that rump has the grace to be a dignified leader and handle the situation like a leader, and not point fingers at everybody else but him, like any spoiled brat would do.
However, I think that when the economic tailwinds finally drag rump down, he won't be graceful, he won't be an effective leader, he'll lash out at everyone right and left, and prove sadly why he's had 6 bankruptcies. The damage to our Country will be incalculable because how many deaths/cases of the CV could have been avoided if the rump admin. hadn't been frozen in its responses because of the fear of a backlash from rump? How many economic lashings will Americans absorb now because of his slow response time to the CV?
duforsure
(11,885 posts)And it'll only make the upcoming recession worse. I think he wants that to happen, while making his debt payments lower for himself. He's using our money now to prop up the markets to claim his economy is good, when it's not, and just like what W Bush did, but expecting something different from it. It's making the markets more venerable.
brokephibroke
(1,883 posts)How bad will the slowdown be?
durablend
(7,464 posts)If he wins reelection it gives him the excuse to cut more stuff (like SS)
If he loses he makes it so (whoever the winner is) won't be able to do much of anything ("look another do-nothing Democrat!" )
Maeve
(42,288 posts)And was told that rates were going to drop. Her banker was right.
Fortunately, she could invest for 5 years; a lot of people haven't that luxury.
brokephibroke
(1,883 posts)In fact equities are almost the only option for any kind of a yield.
Maeve
(42,288 posts)And not always as knowledgeable as she could be--I had to explain to her one time that Goldman-Sachs was NOT the same as Sax Fifth Avenue
She doesn't trust financial advisors, either.
brokephibroke
(1,883 posts)Widow and orphan stocks for a reason. But my moms the same way...
hatrack
(59,592 posts)And when the crash comes, this will leave the Fed with zero tools at its disposal.
Great work - really thought this one through!!
brokephibroke
(1,883 posts)But I dont see a crash, just a significant slowdown.
Mike 03
(16,616 posts)They are whipsawing, with all the ecstatic gains of the announcement gone.
Market Summary > Dow Jones Industrial Average
INDEXDJX: .DJI
26,626.43 −76.89 (0.29%)
Mar 3, 10:52 AM EST · Disclaimer
Johnny2X2X
(19,114 posts)This was really a dramatic step and a sign that the Fed thinks the economy is in trouble.
Mike 03
(16,616 posts)asking why the market isn't skyrocketing in response to the historic rate cut.