Rate cut or no?

[Capricious]

"...All good signs for the economy ahead right??? We can just borrow ourselves out of any problem, cant we??? Okay sarcasm off... I'm getting a bit worried here about the state of our country, its citizens, and the joksters running it..."



As my good budy Rush would say, "Ditto."

 

[Smiling JOe]

I don't want them to be punished just to be punished, I just want them to have consequences for their actions in the hopes that they will learn something and not do it again.

In my opinion, they are being punished right now, and a 1/2 point drop isn't going to make much difference in their suffering. Even a full point wouldn't change things much for the greedy. I think they really got "learned their lessen" when their interest only one year loans were converted into other loans were they had to come up with additional down payment and start paying principle. That is when the punishment began, and it hasn't improved from their perspective yet. Even if the 1/2 point reduction was passed to them, what are they going to do with what will still be a negative cash flow, which grows larger with each month that passes that they don't sell? Celebrate? I doubt it.

 

[goofer]

I don't want them to be punished just to be punished, I just want them to have consequences for their actions in the hopes that they will learn something and not do it again.

People will always figure out ways to game the system, that is the nature of capitalism, HISTORY ALWAYS REPEATS ITSELF. Different players and different circumstances in the future but behavior ( greed and fear ) will be the same. The people that have been or will be flushed now, will be replaced with a new set of scammers and wiseguys in the future.

 

[Bob]

hedge fund rescue, no?

 

[goofer]

hedge fund rescue, no?

I don't think so. More of a bail out of the big brokers and banks.

 

[scooterbug44]

People will always figure out ways to game the system, that is the nature of capitalism, HISTORY ALWAYS REPEATS ITSELF. Different players and different circumstances in the future but behavior ( greed and fear ) will be the same. The people that have been or will be flushed now, will be replaced with a new set of scammers and wiseguys in the future.

True, I am just too much of an optimist thinking that people would learn a lesson and pass those lessons on to their kids . If common sense trumped greed, I'd have a lot less to kvetch about overall.

 

[Capricious]

"...HISTORY ALWAYS REPEATS ITSELF..."


True.

Is not Vietnam currently repeating itself?
(possibly because W missed-out on the "Vietnam
experience?")

The oil price situation is repeating itself, except that
in 1973 the average U.S. citizen was driving a humungous
Pontiac or Buick, and in 2007 the average U.S. citizen is
driving a humungous Expediton/Suburban/ 3/4 ton pickup

Anyone remember the red, yellow, & green flags in front of
service stations? (anyone remember service stations?)

Green meant open and had gasoline, yellow meant open for
service (anyone remember "service") but no gasoline,
and red meant closed.

Anyone remember 1979 when you had to buy a minimum number
of gallans of gasoline depending upon how many cylinders
your vehicle had? I drove an SUV back then, when no one outside
of the hard-core 4-wheel-drive/off-road set knew what an SUV
was.

Manual transmission, manual-shift transer case, manual locking
hubs,manual steering (keep your thumbs out of the spokes
when the front axle is engaged).

No AC

Power windows and electric door locks? Are you kidding???

This was a MAN'S vehicle.

Suburban housewives need not apply.




See what happens when I have a beer.

 

[nmosley]

Capricious -
I remember all of that pretty well and must say that I think your trip down memory land is pretty accurate, except you forgot to add: long employment lines, kids going to school well into June because they had to stay home from school during winter months, people wondering how they would survive the "ice age" that was predicted to arrive within the decade, and many people wondering if there would be enough water for us to drink within 25 years. It is no wonder the drug use skyrocketed in this country as people sought some relief from the horrors of it all (including the war) as the 70's wound to a close. That whole government sponsored drug policy is food for a separate discussion. Who would have thought we would pay what we do for water purification systems and bottled water today? Had I known, I could have been wealthy beyond words right now. If you have another beer and check out Shelly's link on money supply, you may wnat another beer

Anyway, these next few years will be challenging and it is important that we remember that what we see in the media, regardless of where it comes from is propaganda of some sort or another... that said, I hope and pray that we don't find history repeating itself and I also pray that the history of the fall of the Byzantine Empire doesn't repeat itself anytime soon. Also, I hope that any of the lessons taught by Queen Isabella/Spain will be reviewed by those in power before any decisions about what next to do are carried out. Have a great evening!