0.5% cut!!!

[palenimbus]

Bernanke seems to be in such a rush to print dollars, like jim rogers said, "Bernanke is going to print dollars until we run out of trees".

125bp cut in a little over a week. Unreal, considering no other major central banks have cut rates and inflation is not exactly dormant.

Anybody that has large amounts of US Dollars at this point can take solace in the fact that by the time it stops falling in value they won't need to buy toilet paper anymore.

 

[Klamath]

Quote from mokwit:

Bernanke has just confirmed to the world that US is in a terrible state 1990's, 1970's maybe 1930's is coming. He has basically shot his load now, time to add to the shorts and refuse any payments in the toilet paper currency. US has screwed anybody who has to deal in USD.

It pisses me off that this point of view gets almost NO representation on CNBC. Constant f'ing rate cut cheerleading.

It's funny that traders as a percent probably watch CNBC more than any other group (even if we hate it), but CNBC basically refuses toeven acknowlege what seems to be our overwhelming viewpoint, not to mention just plain common sense.

 

[Klamath]

Quote from Ivanovich:

What, you mean all of us?

God I wish it was easy to leave this shit behind - The insane gummit spending, the insane borrowing from the Chinese, the insane money supply explosion, the insane enabling of excessive personal debt.

But nobody cares. They're more worried about gay marriage, hate speech, or whatever.

 

[PohPoh]

how else we gonna pay down the debt?
How we gonna pay for these entitlements..
simple: INFLATE or DIE..
If you can't pay off the debt, destroy the currency...
pretty simple....

 

[Reaver]

Quote from Klamath:

It pisses me off that this point of view gets almost NO representation on CNBC. Constant f'ing rate cut cheerleading.

It's funny that traders as a percent probably watch CNBC more than any other group (even if we hate it), but CNBC basically refuses toeven acknowlege what seems to be our overwhelming viewpoint, not to mention just plain common sense.

Yeah I remember right after the last.75 "emergency" cut, they had some bullshit on CNBC, and they were saying something like "I mean yeah it's about time the Fed stepped in, investors were starting to get angry about their lack of action".

Some shit like that. It's insane what the overall perspective is of people....Like it was said a minute ago, people are more concerned with gay marriage, entitlements, hate speech, etc than they are with the economy of the country itself. It would be hilarious if it wasn't such a serious issue.

 

[Klamath]

Quote from PohPoh:

how else we gonna pay down the debt?
How we gonna pay for these entitlements..
simple: INFLATE or DIE..
If you can't pay off the debt, destroy the currency...
pretty simple....

Yes, consciously or not that is what's happening, and that is what's going to continue to happen. Probably til it's beaten right into the ground. Politically there is little choice. But it doesn't bode well for the future of the US, and it's not fair for those who have been financially responsible to be trapped into paying such a price for those who haven't.

 

[DannyBly1]

Things really not looking good for the USD......... EUR nearly back up to it's high....

 

[matador04]

Quote from PohPoh:

how else we gonna pay down the debt?
How we gonna pay for these entitlements..
simple: INFLATE or DIE..
If you can't pay off the debt, destroy the currency...
pretty simple....

Exactly...you can debase or inflate your way out of debt. I still paraphrase the Economist: The loss foreigners have faced due to loss in dollar holdings has exceeded any currency default (Brazil, russia, etc)