new cycle of rate cuts

[dtrader98]

has begun...

Quote from dtrader98:

I've implied this on another thread. But, my belief is a new cycle of rate cuts is beginning. And about the only thing I can add to that is rate cuts don't always stop a raging waterfall. The last recession showed us how futile that approach was.

Said it several times in the past.
I think Pa(b)st commented that fed telegraphs moves in advance. The discount rate cut was the biggest telegraph you could've ever hoped for.

Discount and FF tend to move in same direction.

http://elitetrader.com/vb/showthread.php?s=&threadid=96555&perpage=6&pagenumber=5
(see last post of page)

The history was right in front of our eyes. Just look how nicely correlated the directions have been since 2000.