THOUGHT FOR THE DAY!

"Imperialism today is taking place in the context of...the 'universalization' of capitalism. It is not now primarily a matter of territorial conquest or direct military or colonial control. It is not now a matter of capitalist powers invading non-capitalist powers in order to bleed them dry directly and by brute force. Now it is more a matter of ensuring that the forces of the capitalist market prevail in every corner of the world (even if this means marginalizing and impoverishing parts of it), and of manipulating those market forces to the advantage of the most powerful capitalist economies and the United States in particular." ... "Military force is still central to the imperialist project, in some ways more than ever."-- Political scientist Ellen Meiksins-Wood, Z magazine Nov 1999, p26

 

HAPPY 'KICK OUT THE GOVERNMENT' DAY!!!

 

Fed: Emergency cut

The Federal Reserve, working in coordination with other central banks worldwide, enacted an emergency interest rate cut on Wednesday.

The Fed lowered its fed funds rate by half of a percentage point to 1.5%. The central bank's statement said the move was necessary because of the worsening crisis in global financial markets.

Webmaster's Commentary: 

I am watching the TV networks almost try and SELL the idea that this has to turn the market around.

I agree that in the past a lower rate would entice investors into borrowing more money for another spin of the Wall Street Wheel,. but I am not sure how well that will work now with the public perception that the dice are loaded and the table tilted against the small investor. We may see a slight uptick at the open where the suckers pile on for one more rise with lady luck, but I do not think it will work as well as the Fed hopes, and if it fails to work at all is when the panic will set in.

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Posted on Oct 08, 2008 at 06:01
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The Fed lowered its fed funds rate by half of a percentage point

poorrichard

High interest rates are what America needs to save the banking system.. Low interest rates profit the speculator .. high interest rates profit the saver.. The saver should be king in America not the gambler.

Interest rates on debt should be twice the honest CPI..(That has been totally distorted) by the weasels who profit off of the lies of what is the true inflation rate is.

I read an article that said that the true rate of inflation was something like 666 percent per year in other words every year that goes by your savings and your S.S. account.. are worth something like 18% of what they were the year before.

Next year.. You get 18% of this years !8%.. In other words your S.S. Account will drop to just 3.24% of what it was two years ago.. Your pension will do the same.. In real money terms... Price of bread.. 17$ or more per loaf.

Get used to soup lines.. and learn how to play a guitar.

10/08/2008 - 12:01

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