Fed and ECB announce half point cut in interest rates

CNN ^

[palmer]

True believers aren’t all dumb (on either side).

[Toddsterpatriot]

Posters who claim the government doesn’t include energy prices when they calculate inflation are dumb.

[palmer]

Looking at prices for evidence of inflation only works if there are no other influences on demand and supply (not true), only works in hindsight, and leaves out other important measurements like wages, inflation psychology, etc.

[Toddsterpatriot]

Posters who claim the government doesn’t include energy prices when they calculate consumer prices are dumb.

[palmer]

I agree

[RSmithOpt]

Corporate America and government got hooked on the illegal alien drug. It didn't take a rocket scientist in 2003 to figure it out.

This is what the LSM and government will not address to the public.

A retail / service sector (all consumption) economy is so strong.....my rear.

[Grampa Dave]

The former owners of stocks don't like the bailout and the possibility of an Obama, Pelosi, Reid controlled government.

DIA = DJIA, S&P = S&P 500, MDY = MID CAP INDEX

[TenthAmendmentChampion]

What style of economics do they embrace at George Mason, do you know? They have a series of podcasts about economics that seem to be derived from Ludwig van Mises and Frederick Hayek. You can check them out at econtalk.org.

[TenthAmendmentChampion]

“Therefore, sitting on some savings, living within one’s on means is practical....too bad the idiots in Congress and Wall St. can’t comprehend those virtues.”

But neither of those virtues puts much money movement into the economy, and can’t be taxed (well, interest on savings is taxed, which is a disincentive to save). Thus those ideas are discouraged. Remember after 9/11: spend! spend! spend!

[MHGinTN]

Why do I feel like I'm watching a slow motion duel to the death between Mister Keynes and Mister Trickledown? ... And what's the best mortgage rate out there right now, I wanna buy a foreclosure.

[RSmithOpt]

Exactly!! The failed policies of a government hooked on money; much worse that to that comparable to the worse crack whore you’ve ever known / seen / seen in movie.

[RSmithOpt]

Palmer, I like your posts a lot. You are much more knowledgeable about the economy stuff than me, however, I do not see the price of food coming down in the near term.

Until the major food produces decide to cut to increase volume at reduced margin, it won't happen. Also, the farmer has been hit hard by inflated seed prices, fuel, and fertilizer. The farmers' costs will have to come down first. I see the food cost reductions 2 seasons out.