John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Stoctrash who wrote (9070)	3/16/2008 11:32:31 PM
From: ahhaha	Read Replies (2) of 33421

Look for the Dollar to bottom (st) in the next few days, maybe tomorrow. Maybe so, but as long as FED continues to avoid the inevitable, dollar will be headed straight down. FED must either keep ff rate at 3% or, raise it to 4% immediately. As hard as it is to believe doing so will have no consequence to illiquid loans or the economy, but it will break the MECHANISM. Pursuing the current course FED is following its Oct 1931 error in the opposite direction when they raised the discount rate during deflation. We have inflation, so they must raise the rate that emulates the functioning of the then discount rate, the ff rate, in order to break the MECHANISM.

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