Blinder & McTeer on Fed Cuts

Tuesday, May 06, 2008 | 03:30 AM

Alan Blinder, former vice chairman of the Federal Reserve, Robert McTeer, former president of the Federal Reserve Bank of Dallas, Jim Bianco, president of Bianco Research, and Mike Ryan, head of wealth management research for the Americas at UBS Financial Services, talk about the Federal Reserve's decision to lower the main U.S. interest rate by a quarter of a percentage point to 2 percent, the Fed's communication about the U.S. economy and the outlook for Fed monetary policy.



Trims Rate to 2%, Signals Ready to Consider Pause
Craig Torres
Bloomberg, April 30 2008

Tuesday, May 06, 2008 | 03:30 AM | Permalink | Comments (4) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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My sense of the direction of interest rates, the markets, commodities and the dollar are ALL one big question mark. Nearly every financial metric of any significance and its associated underlying data is now (rightfully so) regarded with skepticism.

I think there is more hood winking (~collusion) going on among insider "smart money" players on Wall Street right now than has EVER occurred in history. Bush is political toast and has essentially given up on doing anything material for the remainder of his term; which includes investigating any questionable market activity or enforcing current security laws.

So what we are witnessing right now is the last great money grab by the party in power with an administration looking the other way. We are currently being raped and pilaged financially every time you buy groceries, go to the doctor or fill-up your vehicle with gas. The Futures Market has been transformed from a means of hedging future purchases by businesses actually producing something to nothing more than organized gambling. (Kind of like greenmail.)

Since nearly everything is off-the-charts there is little guidance as to what to expect next. It's indicative of a financial orgy. And frankly, no one on Wall Street gives a damn! However, there is good news, after the elections, all of this non-sense will quickly disappear and things will begin to move back toward some semblance of normalcy.

Problem is...I not sure anyone even knows what normal is anymore. They also have no clue how future generations will be able to survive in the financial environment we will have left them. Shame on us greedy selfish b#stards!!!

Posted by: BG | May 6, 2008 4:48:17 AM

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