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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To: $Mogul who wrote (78532)	4/30/2008 11:14:22 PM
From: Rarebird	Read Replies (4) of 116555

<<Truth is the economy is in a lot worse shape then most want to admit and the .25 cut was a clear indication of that.>> The FOMC cut rates even though they know it will hurt the economy through higher oil and other commodity prices. So, there must be another reason for the FOMC to cut rates. And, it's a reason that the FOMC is hiding: Bank stocks are in big trouble as they have not fully revealed all of their toxic waste. The only reasonable conclusion to be drawn here is that the financial crisis is about to move to its next stage — massive bank failures and even more massive bailouts by the Fed.

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