The FEDs meet on Wednesday: What's your prediction... 25 or 50 points? (Page 3/13)
madcurl OCT 31, 04:13 PM

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Originally posted by Formula88:


And oil's up $4 to a new record high.



If ya can't beat them, join them! XOM up, up and away!
madcurl OCT 31, 04:39 PM

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Originally posted by fierobear:

Yeah, I should have figured that they wouldn't take a really big step by with a .5 cut. That leaves the door for further cuts if needed, but they are currently saying that more cuts are unlikely in the near future.



I agree. It looks like the FEDS took out some insurance (.25) and maybe if needed, more in Dec.

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Originally posted by fierobear:
Does anyone think this will help the slumping housing market?



I'd doubt it since most homes are currently out of touch with the general income in certain areas. My guess is, only those whose income exceeds or qualify and have very, very good credit will benifit. Once the housing market drops down to reasonable levels, the rich will be the first to swoop up homes in trouble. I doubt very likely any bank or CEO will get involved in another sub prime scandel.


loafer87gt OCT 31, 04:43 PM
And up north of the border the Canadian dollar hit $1.06 US. The highest its been since the last Deifenbaker's 1957 conservative government. It''s estimated we'll hit $1.10 by the end of November.
Firefighter NOV 01, 04:21 PM
As long as the sub prime crisis and the outrageous oil price escalation continues, the Fed will continue to meet and lower the rate by 1/4 point at every meeting. Bet on it.
The scenario goes like this:
The Fed chiefs meet at 11:30 and decide in 15 minutes what they are going to do. That's followed by a 1/2 hour cocktail and bull$hit period. Then an expensive lunch (at your expense, by the way) which lasts until 2 p.m. And why is the announcement at 2:15 p.m. ?????????
Because they just finished lunch, have a potty break and make the announcement. These guys make a fortune (again, at your expense) and make a decision that we Fiero Forum members could make in 5 minutes and have lunch at McDonalds.
Remember when Alan Greenspan headed the Fed and the rate declined steadily by 1/4 point every time they had a meeting. When they got down to a rate of 1.5 %, they stood around during the cocktail period and said "WTF are we going to do now" ? We now actually have to think about a course of action, instead of doing the same thing for the last two years.
Unfortunately the business community and the Fed itself have been sucked into the belief that the Federal Reserve in the US can solve all of the world's greed problems, oil prices which make no sense, environmental issues, wars, labor disputes and paint cracks on the front facia of your Fiero. Well it can't do that. Yet the stock market stops dead a week prior to the Fed meeting every time and those rich brokers go to church and say a prayer TO THE FEDERAL RESERVE. Ed

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84Bill NOV 01, 04:28 PM
The can lower it to 0% and that wont mean oil prices arent going to kill the working slob.. Short term interest rates have nothing to do with the common joe blow making ends meet each week. It wont lower fuel prices and it aint gunna do jack squat for his long term balloon mortgage... or make food less expensive or even make the dollar buy more.. The Interest rate decrease means ZILCH for the common pion.

It took 5 or 6 years of various interest rate increases to get us to this point and warring on TWO different fronts aint helping any.
loafer87gt NOV 02, 10:26 AM
Holy Crap! What are you guys doing down there? Our dollar just jumped another 2 cents this morning and is at $1.07 US. They are now saying that we will hit $1.10 by the end of next week!
Formula88 NOV 02, 10:37 AM

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Originally posted by loafer87gt:

Holy Crap! What are you guys doing down there? Our dollar just jumped another 2 cents this morning and is at $1.07 US. They are now saying that we will hit $1.10 by the end of next week!



According to one news source, the last time the U.S. Dollar was this low compared to the Canadian Dollar, Confederate troops were advancing on D.C.

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Calling an illegal alien an "undocumented worker" is like calling a heroin dealer an "undocumented pharmacist."

Formula88 NOV 02, 10:42 AM

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Originally posted by madcurl:


If ya can't beat them, join them! XOM up, up and away!



Yeah, but the scary thing is buying in now, with prices at record highs. Like the housing bubble - will it keep going up up and away, or go bust without warning?

I tend to think oil prices are artificially inflated right now. Not sure how long it's going to be sustainable or if there's going to be a major correction.
madcurl NOV 02, 10:50 AM

quote
Originally posted by Formula88:


Yeah, but the scary thing is buying in now, with prices at record highs. Like the housing bubble - will it keep going up up and away, or go bust without warning?

I tend to think oil prices are artificially inflated right now. Not sure how long it's going to be sustainable or if there's going to be a major correction.




You maybe correct, but some TECHs stock are still holding. I guess the FEDS meet in December will lower the rate again since the finacials are having a free fall.

[This message has been edited by madcurl (edited 11-02-2007).]

Red88FF NOV 02, 11:33 AM
Oil is absolutely the main problem we face today, not only for our economy but for national security, which of course one can tie together.

I place the blame for this squarely on the democrats and their coddling of the far left wing agenda and their blocking every attempt to go after our energy resources here in this country!. Oil fuels our economy and the increases in price undeniably hurts the lower income people the most.
One of the first thing our whacky governor did in this state was slam another tax per gallon on gas at the pump taking yet another stab at the heart of the lower income people, the VERY demographic that they claim to represent. This can also be said about the tobacco taxes, it is a fact that far more poor people smoke, which is even worse than the gas taxes. I used that as an example but it is the dependence on foreign energy which in fact turns control of our economy over to the foreigners that is the REAL problem.

Me a libertarian that vote for the republicans only as an attempt keep democrats out of office will not change a thing. BUT since these dam democraps are not going away (though I would like them too) the pressure needs to come from their own party to demand that the obstacles they have placed on our energy development programs be immediately removed! NO sh!t do something for the good of the country for a change!.

The price of oil could have terrible effects on our economy. The doom and gloomers could have their dreams come true indeed,,, but not for the reasons they thought it might happen.