Agreed, My point is the Federal Reserve if it doesn't lower rates 150 basis points, its part of the PROBLEM not the SOLUTION and any method to solve the problem will do for the short term, and they all require LIQUIDITY: Tax cuts or rebates or tax credits (Fiscal Policy), lower OIL ($20-$25 per barrel, $22-$23 for North Sea/Brent), Lower interest rates: from the Federal Reserve, from the US Treasury new issues and buy backs, from flooding the markets with US Treasuries by the Saudiis or Japanese and Europeans, European Central Bank lower rates, or even the Mint etc printing more money, or even (with less historical success: more Corporate Paper, bonds, debentures) whatever works. If Greenspan does not do it soon, the rest of the WORLD will do it for him and that my friends is the End of Monetary Policy as we know it......That I can Guarantee, more so than any Bretton Woods accords.
I am,
Truly your$,
-Crystal Ball |
