funny how everyone has been saying that a rate cut won't be effective because there is no money to borrow because banks won't lend. so how does the Fed cutting rates get the banks to start lending to each other.
if you ask me, the Fed is down to the kitchen sink and all they have left is the rate cut policy. markets were being routed overnight with Nikkei down 10% so they had to do something just shy of begging everyone not to sell off the markets.
FTSE bounced off a 4300 low and running up to 4650 right now I think.
This is happening lock and step like it did in Japan some 20 years ago.
but is it worth the shorting opportunity as the ban comes off financials tomorrow. are they preparing to get traders to build up massive shorts to cover the market up from here?
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