World’s leading economies — led by U.S. Federal Reserve and European Central Bank — announce half point cut in interest rates.
(Excerpt) Read more at edition.cnn.com ...
Sigh- The world has lost its collective mind. This is amazing- for years we watched as the dot.com bubble grew and burst- now we’re watching the same with real estate.
The skyrocketing real estate values were not based on reality. Now the world freaks out realizing the gamble didn’t work; the ponzi scheme is over.
Last night Cavuto had on a banker from Michigan. He’s got a small, normal bank. They never got into the insanity- just kept plodding along, day in, day out, year after year providing solid and stable banking services for the community.
My analogy- when some of us (women) fall for the dangerous, exciting and tempting men we don’t THINK it through- we’re off on the ride of our lives. We look at the normal, stable fellow- who may not provide us with the soaring highs we seem to want. But after the crash- the abuse, the dishonesty and cruelty has drained us- we look to the normal and reliable fellow with new eyes of appreciation.
And yes- I’m speaking from a personal perspective :) Thankfully I long ago stopped looking for the equivalent of Goldman Sachs- a nice local credit union is safe and will be there long after Mr. Goldman Sachs has crashed and burned..