But the cut isn't going to do any good. AG will go for it just on let's do it and hope we can FORCE people back into the market(a strategy that has failed already).
The Banks WILL HATE a rate cut, and it will NOT help their situation.
Any markert surge on a rate cut is a surge to play and then sell sell sell.
Our market and the Global Markets is the watching the boys racing around from one crisis to another crisis but those crises will just keep coming.
I go to Stiglitz, an on the edges member of the Globalization Braintrust as it was conceived; as he has now said it was an act of arrogance that had as it's underlying motive , economic imperialism; and now is a hydra headed problem.
Soros has vigorously attacked Globalization.
And Dr.Marc Faber goes so far to say that the costs of global economic imperialism and the cost of maintaining an Empire of PaxAmericana will drive the U.S., just like Rome into financial crisis that will parallel Argentina. And so and so on.
So there's my "paint it black" post for the month. Max
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