Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: koan	9/21/2007 11:08:03 PM
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I watched this Harvard economist on bloomberg, talking about the discount rate cut, who was once head of the IMF. He was the type of guy whom you were sure, one, knew exactly what he was talking about, and two, he was telling the truth. He said the feds HAVE to keep cutting to support the micro US real estate debacle and the economy and whatever happens worldwide on the macro scale to the dollar so be it? The fed just has no room to take that into consideration. And he expects another cut in October, so if the feds cut again soon the dollar is doomed for sure. And gold and oil sky rocket. He also alluded that this subprime fiasco could be the beginning of the time to pay for our past sins of loose liquidity-lol. Interpretation: he ws sure this sub prime thing is the beginning-lol.

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