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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ChanceIs who wrote (141742)8/19/2008 9:24:43 AM
From: DebtBombRead Replies (1) of 306849
 
"a large U.S. bank will fail in the next few months"
Hmmm, no bottom yet?
"I think the financial crisis is at the halfway point, perhaps. I would even go further to say 'the worst is to come'," he told a financial conference."
Yikes.
"In response to the sharp U.S. housing retrenchment and turmoil in credit markets, the U.S. Federal Reserve has reduced interest rates by a cumulative 3.25 percentage points to 2 percent since mid-September.
Rogoff said the U.S. Federal Reserve was wrong to cut interest rates as "dramatically" as it did.
"Cutting interest rates is going to lead to a lot of inflation in the next few years in the United States.""
Ahh, leave it to the Fed.
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