Tuesday, September 18, 2007

Stiff Upper Lip Quivers

Your GoPerverts are hard at work and aren't they cute? running around madly trying to plug up the holes they dug in the topsoil of financial stability while making Just Do It the loan industry mantra.

Not understanding this concept "value" has so many problems attached.

The BBC muses about it, as over there an actual run on a bank is taking place reminiscent of the asset freezes in the '80s.

The US central bank, the Federal Reserve, is about to decide the future direction of US interest rates.

Amid growing turmoil in financial markets, the decision will be closely watched around the world.

Why does the Fed decision matter?

Many experts believe that only a substantial cut in interest rates by the Fed will calm the turbulence in the world's financial markets.

The decision would send a strong signal that the US authorities are prepared to intervene to stabilise the markets and to prevent the US economy sliding into recession.

And it would reassure banks and governments around the world that the US was prepared to take a lead in tackling the current crisis.
If the US does slid (sic) into a recession, it will have a big effect on the rest of the world, as US consumers will buy less goods from abroad.

And that makes it more likely that other central banks, like the Bank of England, may have to cut rates sooner rather than later in order to stem the growing panic among individuals and institutions. (Emphasis added.)

Stiff upper lips are aquiver. If the Fed doesn't stop the collapse, that role passes on to the rest of the world. Of course, if the Fed does step in, it will be for the purpose of restoring calm only if the buying public is convinced that it will work, and stops selling off stocks, etc.

Your confidence is at stake, which is why economic news in your local fishwrap is so determinedly upbeat even when it's obvious that the actual economic climate is icy cold.

When headlines read "Boom Times for Pawn Business" - the fan blades are hacking their way through the fecal matter. At the present time, that the Fed is poised to give up crying 'Inflation Imminent, Head for the Heils', is pretty strong stuff.

The Fed only quails in its pursuit of convincing you DFHs that good pay for workers is the real threat to the economy when it's up against actual threats like collapse of a market.

It's that bad.

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Blogger Elmo said...

I see bad days coming too. I just put my 401k money into a safe place away from the shitheads.

Bonus comment:

Y'all Chickenhawks to Me - by Elmo (MP3)

(If you have trouble with the link, right click and "save target as")

12:53 PM  
Anonymous Anonymous said...

September 18, 2007 603-726-0202

CONCORD, NEW HAMPSHIRE - The Ron Paul Campaign proudly announced today the endorsement of State Representative Paul Ingbretson, Grafton County District #5.

"Congressman Ron Paul understands, like no presidential candidate in recent history, that the central purpose of government in America is to secure the liberty of her citizens," said Representative Ingbretson. "He has the unbelievable integrity and guts to speak out and vote the liberty agenda of the Founding Fathers-not once, or occasionally, but every time. Never in my lifetime have I seen anyone running for president so oriented and in these days of Patriot Act madness I endorse his candidacy unequivocally."

5:35 PM  

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