Thank You Federal Reserve for deciding to keep interest rates at near zero percent for the next 2 years, causing a reversal in the steep fall of oil prices. This not only effects us and families every where. But it also effects us as a small business owner. So Thanks Ben Bernanke! I really appreciate it.
And I see today that stocks on the European market are falling on concerns that France will be the next economy to go. So it is creating a ripple effect for us today and currently our market has dropped over 400 points.
Oh and sorry, but I find it amusing that in this panel of 12 for this super debt committee that Harry Reid appointed of all people: John Kerry... ha ha ha. Why do they need 12 more Washington bureaucrats to figure out how to save money, What they need to do is find 12 everyday American citizens from all walks of life that have to keep a monthly balanced budget and live within their means to figure this all out for them. But for me the answer is easy: Cut Entitlements.
And in my household news....the boys got their fish tank... : )
JUGM,
ReplyDeletePlease don’t bring logic into this equation. Being dumb and ignorant to common sense is all Congress has. Come to think of it, dumb and ignorant to common sense seems to be going around the country. I have a good friend that thinks that the “gold bubble” will pop soon, bringing prices back down to $300-500 range. Yeah, just like $1/gal gas prices are coming back because the “gas bubble” is going to burst.
I was amazed at the Fed statement. First, how can they promise to keep interest rates so low for six months, let alone two years? Especially since raising the rates is all they can do to cool inflation, and that's the elephant in the room. I never gave the government or government lackeys much credit for intelligence but this strains even my credulity.
ReplyDeleteAH,
ReplyDeleteThey can't. No matter what they do. But giving a time like 2+ years will put (in their minds) everyone at ease. No reason to pull money out. Stay the course. Although I notice that the timeline was long enough to not be in the next election cycle.
Does anyone know how much the interest rate would have to rise to cause the interest payments to top the income of the government?
Mudbug- did you see gold today? Up over 1800.00 I don't think the bubble is going to bust any time soon. And we won't see that 1.00 a gallon of gas every again. I have tried searching for an answer to your question but can't seem to find it.
ReplyDeleteArsenius- The Feds are trying to sqeeze out the middle class, they only want a wealthy class and a low income class. Just wait till those interest rates rise..its going to be disasterous.
JUGM,
ReplyDeleteBeen watching it all day, with the DJIA. NEKKAI is going to bump it over 1800 easily tonight when they react to our 519 pt. drop.
Scary times indeed. Wish I had a little more ammo and a wind jenny. Time to get to work I guess.
Hit the nail on the head, JUGM.
ReplyDelete