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Pastimes : The Philosophical Porch
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From: Rarebird8/14/2006 2:26:58 PM
   of 26251
 
Hallelujah, now we have ceasefire rallies! Let's forget the fact that the outlook for future growth in the U.S. is horrendous. First, home sales are spiraling downward and with them, a major growth factor. Toll reports orders for houses fell 48 percent. Hopes of a soft landing in the housing sector are refuted by Countrywide home mortgage executive Mozilo, who says he has never seen a soft landing in 53 years. But Hallelujah for the ceasefire rally! Constraint by monetary officials is breaking the US economy. In 2001 the FED increased money growth in a panic reaction to the economic downturn, at one point the money base was growing by double digits. Recently money base growth has been constrained to less than 1/2 of one percent with M1 declining nearly 5%. US interest rates are among the highest in the industrialized nations. With inflation rates over 4%, additional stimulus by the federal authorities is risky.

But we need not worry, we have the first in a series of ceasefire rallies underway. Hallelujah!

PS RED Light Alert is Still in Effect!
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