A full point cut, from 3 to 2%. That to me would scare the bejeebers out of me because it signals that the bottom is falling out of everything.
With that said, it might be better than doing things piecemeal.
Heck, the dollar has probably already tanked on anticipation of the cut.
As if there is a whole group of people who move based on that particular news.
Whether the market goes up or down each day, they can pick any news item of the day as ‘the reason’ for it.
Prosperity jitters rocked the market with Wall Street investors worried that, as one trader put it, “Tomorrow might be better than today, American ingenuity might solve our current challenges…and then how would I feed my kids, and fuel my Bentley.”
Throughout the financial world, many analysts woke up to the fact their entire lives are based on investing in gossip, guesswork and greed, and wagering against their own neighbors and friends.
“It just struck me,” said one unnamed stock trader, “I come out here each day and bet against the greatest creative minds, and the most gifted and diligent workforce ever assembled in one nation in history. I’m thinking of giving it all up to start my own business selling crack to school kids.”
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