I agree the cut won’t do much to help the housing crisis, the only real benefit will be for banks and businesses who borrow money to do business.
But the dollar is already the weakest it’s been since, in what, 10 years? 15? Now Helicopter boy drops nearly $100 Billion into a bad market, then cuts rates again.
I thought inflation was the FED’s number one enemy? Now it seems as if their own policies are.
What’s worse is as housing continues to deteriorate, subprime, (that “measly” 1-2% of all mortgages) Alt-A, and even better loans go bad, it’s just going to get uglier.
This country is screwed. I’m moving to Canada, Eh.
