Tuesday, August 21, 2007


The markets were down this morning until this:

U.S. stocks rose on speculation the Federal Reserve will cut interest rates, spurring economic growth and reviving this year's record pace of takeovers.


Stocks erased an earlier decline after Senate Banking Committee Chairman Christopher Dodd said Fed Chairman Ben S. Bernanke agreed to use ``all of the tools at his disposal'' to restore stability to markets roiled by mortgage defaults.

The equity market turned when a CNBC shill characterized Dodd's characterization of what Bernanke said about a possible rate cut after the Fed's move to lower the discount window rate hadn't stabilized the credit market.

Now that's desperation.

Turning on a characterization of a characterization.

Another CNBC shill just told me that "all we have to do is sit back and wait for the rate cuts to come."

And then all will be good again!!!

Ho, ho, ho.

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