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| The economy, is it good or bad. (Page 155/181) |
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84Bill
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JAN 15, 11:58 AM
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| quote | Originally posted by Uaana:
Well there is a pretty easy and quick fix to the "problem" get the pres/house/senate to cut taxes across the board by 5%.
Submit a budget that has cuts in it instead of pork spending.
The Fed cutting interest rates is a short term solution while we wait for our lawmakers to get off their ass and do something other than pass resolutions against Rush Limbaugh |
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Ahh.. I agree 100%  But wait, do you mean give handouts to the public?
Sounds like a good plan. How much and how long?
With a weak dollar it will need to be more than a few hundred dollars spread out over a year.
In the long term America could take advantage of the weak dollar (it will be weak for a very long time) by exporting but the problem is it will take a few years to "tool up" and re-establish an industry that has been all but sold off to other parts of the world.
The Industrial Production indicator will likely trend with slightly better than predicted growth (to be released on Jan 16th). Which is good because that will mean investors will flock to it tomorrow causing a major up swing in the market.... I predict a good 1.5% gain in the Dow after todays carnage.
The problem is consumer spending as "inflation shot up in 2007 by the largest amount in 26 years." People need money and badly... So how much and for how long do you throw the American public a handout?
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Pyrthian
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JAN 15, 12:04 PM
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I had an alarm clock, which had a error in the LEDS. all the 5's would display as 6's.
so, at 5:55, 5:56, 6:55 & 6:56 AM & PM my clock would display 6:66
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84Bill
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JAN 15, 12:05 PM
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| quote | Originally posted by My Personal Super Hero Uaana:
I know this wont go over well..
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Wow.. a flash of pure genius. 
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But Bill..is there anything good in your life? Just noticing that all your posts seem to be about how the US sucks, Economy sucks, VA/Military Sucks, .. see the trend?
I'm not exactly Mr. Happy.. but damn dude.. you make me sound like a Buddist/Krishna/Stuart Smiley |
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My reply would be on topic but since your post has once again drifted to ad-homenim which effectivle hijacks an economic thread and turns it into a "look how pathetic 84Bill is", I feel at this time I would have much better luck explaining the answers to those questions to a 3 year old child with ADHD.
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aceman
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JAN 15, 12:08 PM
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This thread isn't about Bill.
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aceman
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JAN 15, 12:09 PM
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Stop assassinating his character!
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aceman
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JAN 15, 12:10 PM
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aceman
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JAN 15, 12:12 PM
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We don't need these ad-homenim (Bill's favorite word from the word of the day calendar) attacks
______________________
There, I saved you a bunch of time!
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aceman
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JAN 15, 12:18 PM
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| quote | Originally posted by Pyrthian:
I had an alarm clock, which had a error in the LEDS. all the 5's would display as 6's.
so, at 5:55, 5:56, 6:55 & 6:56 AM & PM my clock would display 6:66 |
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That would defy the saying....."A broken clock is right only twice a day."
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84Bill
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JAN 15, 12:19 PM
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Yes.. aceman... and in other economic related news...
Anyone have any idea what this will do to the value of the American dollar?
I know one thing for sure... people wont be jumping out of windows today.. lets watch the market respond..
DOW 12,573.38 -204.77 / -1.60% Jan 15 12:14pm ET †
NAS 2,431.79 -46.51 / -1.88%
S&P 1,389.69 -26.56 / -1.88%
US Dollar = 1.02 Canadian Dollar
US Dollar = 0.67 Euro
US Dollar = 108.01 Japanese Yen
Fed auctions $30B at lower interest
The third Federal Reserve auction aids credit markets, interest drops to 3.95%
WASHINGTON (AP) -- The Federal Reserve, working to combat the effects of a serious credit crisis, said Tuesday it had auctioned $30 billion in funds to commercial banks at an interest rate of 3.95 percent.
10:53 AM EST
It marked the third in a series of innovative auctions the Fed began last month as a way to provide cash-strapped banks with the reserves they need. The hope is that the increase in resources will keep banks lending to consumers and businesses and prevent the credit turmoil that hit in August from pushing the country into a recession.
There are indications the Fed's efforts are having an impact. The 3.95 percent interest rate was the lowest of any of the three auctions it has held. The other two auctions saw rates of 4.65 percent and 4.67 percent.
Last week, Federal Reserve Chairman Ben Bernanke said the auctions so far have been successful and he indicated that they would continue for as long as they were needed. He said that these auctions might become "a useful permanent addition to the Fed's tool box" of strategies it can employ at times when the credit markets have seized up.
The Fed to the rescue
Bernanke, in a Washington speech, said that before the new auctions are made permanent, the Fed would seek public comment on how they should be designed so that they can be best used by financial institutions.
There is one more auction scheduled for Jan. 28 but the Fed has already said it will announce later this month details of auctions it expects to hold in February.
The new auction process was unveiled by the Fed in mid-December in a coordinated action with other central banks around the world trying to address a global credit crunch.
The Fed decided to try the new process because their efforts to inject funds into the banking system through the Fed's discount window, which makes loans to banks, had proven less successful than Fed officials had hoped.
Many banks had avoided using the discount window out of concern that investors would see the move as an indication of underlying problems at their financial institutions.
The auction process was developed as an alternative way to get money into the banking system with the hopes that it would not carry the perceived stigma of the discount window.[This message has been edited by 84Bill (edited 01-15-2008).]
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84Bill
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JAN 15, 12:31 PM
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Awwww...
Poor CEO's. Bilked the American public of billions and stuffed it into their own pockets while the banks over extended credit and now the well is running dry.
CEO confidence hits 7 year low
The Conference Board says bleak economic conditions have eroded business leader's confidence.
NEW YORK (CNNMoney.com) -- The weakening U.S. economy has driven confidence among the nation's chief executives to a seven-year low, according to the Conference Board's Measure of CEO Confidence.
The measure fell to 39 in the final quarter of 2007, sinking lower after falling to 44 in the third quarter of last year. The measure had not gone below 40 since the final quarter of 2000 when it hit 31.
"Given continued trouble in the housing and credit markets, persistent volatility in financial markets and increases in energy prices, it's not surprising that confidence has eroded," said Lynn Franco, Director of The Conference Board Consumer Research Center.
The measure found that only 7 percent of CEOs think economic conditions have improved since the third quarter, when 14 percent said conditions were looking better.
The outlook over the next six months is even worse. Currently, 16 percent of business leaders expect economic conditions to improve in the next six months, down from 20 percent last quarter, according to the Conference Board.
"Looking ahead, the majority of business leaders expect these lackluster economic conditions to prevail throughout the first half of 2008," Franco said.
Jeaz....
Banks going bankrupt, CEO's looking out their top floor windows reminsing about the good old days..... How sad.  :::sigh... t::::[This message has been edited by 84Bill (edited 01-15-2008).]
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