An ill advised raise, but minor.It will be interesting to watch the press spin the rate hike (required to slow the expansion) while claiming that the expansion is going too slow, though...
5 Legislative Days Left Until The AWB Expires
DJIA +81.57 9,896.23
NASDAQ +19.27 1,793.91
S&P 500 +7.28 1,072.50
Economy can't be doing that bad for the rates to be raised.
that will be the last one until 2005.
An ill advised raise, but minor.It will be interesting to watch the press spin the rate hike (required to slow the expansion) while claiming that the expansion is going too slow, though...
5 Legislative Days Left Until The AWB Expires
The Bush recovery. CONFIRMED.
It may have been expected, but with oil soaring I think it's premature.
so the thief is only stealing 2.5% on cash holders, not 2.75%.
It's about time....
The Economy
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Consumer Index 116.8
¥ 0.1
Investor Index 135.0
¥ 3.1
http://rasmussenreports.com/
Speaking of markets, did anyone see the guy from Intrade interviewed on Cavuto (where is he, by the way?) yesterday? They have a system whereby investors bid on, for example, who will become President and they've got W by 52%. They also covered the Edwards nomination in April.
Time for Greenspan to go (way past time!)...the economy will be struggling with $45 crude prices. Does this guy live in the real world. Huge jump in crude prices will knock most industries for a loop, especially chemicals, drugs and plastics. Let alone the trucking industry. There needs to be an age limit for the Head of the Fed.
UPDATE for 08/10/04
My 2 cents: Don't get mad @ me, get Glade.
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Right now W's average approval ratings is 47.0% from last 10 polls (Dem/GOP don't count). The max W will get over his average approval rating is 0.5%.
So: If the election were held today, the approx election results would be.
W/O Nader
Bush 47.5%
Kerry 51.5%
Others 1.0%
Bush 47.5%
Kerry 50.5%
Nader 1.3%
Others 0.7%
MOE+/-1%
lots of sides to this. It could help shore up the dollar thereby keeping a lid on crude prices and inflation ingeneral.
Alot of loans have been made to get through the global recession; to continue to attract global money into new US bond/bill issuance will require higher interest rates with increasing global competition for capital.
Raising interest rates while the energy costs are rising is exactly what happened last time. Bad news.........
Federal reserve chairman Alan Greenspan (news - web sites). US Federal Reserve (news - web sites) policymakers raised the key short-term interest rate by a quarter point to 1.5 percent, blaming a spike in oil prices for curbing economic activity.(AFP/File/Manny Ceneta)
but, but, but... this can't be so -- the economy is in the sh!tter. (sarcasm)
Bastard.