Fed in bold move to thaw credit markets says it will buy massive amounts of short-term debt

[tucker…]

WASHINGTON (AP) — The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.
The Federal Reserve, invoking Depression-era power under “unusual and exigent circumstances,” will buy “commercial paper,” a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

http://biz.yahoo.com/ap/081007/financial_meltdown.html?.&.pf=banking-budgeting

[Coronita]

nah, don’t worry. Helicopter ben’s gonna bail us out this week. Trust me 🙂

And guess what? Now’s a great time to start going inverse on the euro….

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don’t start bringing back their own currency 🙂

hahahahaha… Europe decoupled from the U.S. hahahahaha… That’s a good one.

Oh, and can’t wait for the real estate floor to come falling out in China. That one’s gonna be a doosie. Fortunately, yes, I’m out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

[Coronita]

nah, don’t worry. Helicopter ben’s gonna bail us out this week. Trust me 🙂

And guess what? Now’s a great time to start going inverse on the euro….

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don’t start bringing back their own currency 🙂

hahahahaha… Europe decoupled from the U.S. hahahahaha… That’s a good one.

Oh, and can’t wait for the real estate floor to come falling out in China. That one’s gonna be a doosie. Fortunately, yes, I’m out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

[Coronita]

nah, don’t worry. Helicopter ben’s gonna bail us out this week. Trust me 🙂

And guess what? Now’s a great time to start going inverse on the euro….

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don’t start bringing back their own currency 🙂

hahahahaha… Europe decoupled from the U.S. hahahahaha… That’s a good one.

Oh, and can’t wait for the real estate floor to come falling out in China. That one’s gonna be a doosie. Fortunately, yes, I’m out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

[Coronita]

nah, don’t worry. Helicopter ben’s gonna bail us out this week. Trust me 🙂

And guess what? Now’s a great time to start going inverse on the euro….

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don’t start bringing back their own currency 🙂

hahahahaha… Europe decoupled from the U.S. hahahahaha… That’s a good one.

Oh, and can’t wait for the real estate floor to come falling out in China. That one’s gonna be a doosie. Fortunately, yes, I’m out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

[Coronita]

nah, don’t worry. Helicopter ben’s gonna bail us out this week. Trust me 🙂

And guess what? Now’s a great time to start going inverse on the euro….

Some of the european banks are already considering dropping rates too.

It is gonna be a race to the bottom.

You know, it would be interesting to see if european nations don’t start bringing back their own currency 🙂

hahahahaha… Europe decoupled from the U.S. hahahahaha… That’s a good one.

Oh, and can’t wait for the real estate floor to come falling out in China. That one’s gonna be a doosie. Fortunately, yes, I’m out of that even more ridiculously corrupt/screwed up/red-taped market more so than the U.S.

[Coronita]

Why is oil at 92 bucks?

Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

[Coronita]

Why is oil at 92 bucks?

Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

[Coronita]

Why is oil at 92 bucks?

Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

[Coronita]

Why is oil at 92 bucks?

Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

[Coronita]

Why is oil at 92 bucks?

Simple… If we have a global recession, people consume less on unnecessary crap, and hence all that dinosaur oil doesn’t need to be poured into energy to power all those factories that produce all that crap we buy from china.

Also, OPEC members probably figured out that if they jack up oil prices to a point, Americans will get pissed off enough that they seriously start to consider alternative energies, and there are just enough talented people in the U.S. of A to actually pull that off if it really came to that.

[Eugene]

Good chance of unscheduled rate cut before market open tomorrow. (My rate cut forecasting record is very poor, but I’ll keep trying till I hit the mark)

Fed funds futures are showing a 84% chance of a 50 bpp cut and 16% chance of a 75bpp cut on or before 10/29.

Strong dollar benefits no one.

[Eugene]

Good chance of unscheduled rate cut before market open tomorrow. (My rate cut forecasting record is very poor, but I’ll keep trying till I hit the mark)

Fed funds futures are showing a 84% chance of a 50 bpp cut and 16% chance of a 75bpp cut on or before 10/29.

Strong dollar benefits no one.

[Eugene]

Good chance of unscheduled rate cut before market open tomorrow. (My rate cut forecasting record is very poor, but I’ll keep trying till I hit the mark)

Fed funds futures are showing a 84% chance of a 50 bpp cut and 16% chance of a 75bpp cut on or before 10/29.

Strong dollar benefits no one.

[Eugene]

Good chance of unscheduled rate cut before market open tomorrow. (My rate cut forecasting record is very poor, but I’ll keep trying till I hit the mark)

Fed funds futures are showing a 84% chance of a 50 bpp cut and 16% chance of a 75bpp cut on or before 10/29.

Strong dollar benefits no one.

[Author]

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