The rate on three month Treasury bills went down to 0.02 today, a low not seen since 1941 !....
Many other credit rates are-or used to be linked to 3 month T-Bill rates, but this unhinges a lot of things, including us, and a lot of American workers...
It is serious...Shows the Fed has no control over interest rates on monetary policy with the dollar in the can...that’s like repairing a car with a sledgehammer and a screwdriver...lots of good those tools are...we need a strong spokesman who can inspire confidence...Instead we have three blind mice and a talking horse...
Thank you so much for the explanation.
I am not well versed in this stuff but the news had me scared today and feeling uneasy. We are just working stiffs, I have terminal cancer and worry about what my family will do when I pass. My hubby works for the city of Fresno and I work for a company that depends heavily on Medicaid, unfortunately. I make 60% of the income.
I will pray and hope everything hangs together and that we can keep 0bama out of the White House. That would be like FDR on steroids.
Word has it that banks have stopped taking any collateral from lending partners unless it’s T-BIlls. Hence, the run on the 13-week variety today. That sucker printed negative yield at one point.
The TED spread is currently at 2.99. In layman’s terms the U.S Economic Body Temperature is around 105 F.