Nothing New Under The Depression Sun

[Joanne98]

October 25, 2008



Elaine Meinel Supkis


As the US falls into the same system that runs Japan, we have to recognize that the effects of the 0% system is not going to fix the US trade deficit. The Treasury is allowing all our dear, bankrupt banks to announce that they are going to the bankrupt Fed for funds. We also look at a series of old, old newspaper clippings that clearly show that today's mess is nearly totally identical to past messes. The IMF is going to allow many of the 'first world' nations to borrow immense sums. And not live under IMF cruel rules, either, I bet. And we revisit the business of the Plunge Protection Team.


Fed: New rate cut likely, with record low within sight
The Fed lowered its federal funds rate, the benchmark overnight lending rate at which banks lend to one another, by a half-percentage point to 1.5% in an emergency announcement Oct. 8.

Many investors believe the central bank will cut rates by at least another half-percentage point following the end of a two-day meeting on Oct. 29. In fact, the fed funds futures on the Chicago Board of Trade are now pricing in a 26% chance that the Fed will cut rates by three-quarters of a percentage point to 0.75% by that meeting.

edited to 3 paragraphs to conform to DU's fairuse policy for copyrighted material
Lithos
DU Moderator
http://elainemeinelsupkis.typepad.com/money_matters/2008/10/october-25-2008----elaine-meinel-supkis------new-york-times-october-4-1914-------the-new-york-times--july-2-1930.html

[dixiegrrrrl]

1. Plunge Protection Team sound to me

like a group of condom makers.

[Joanne98]

2. LOL