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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: robert b furman who wrote (8995)10/16/2008 6:13:11 PM
From: Galirayo  Read Replies (2) of 41480
 
Hey Bob ... You ever read this guy ??

The Road To Nowhere
By Colin Twiggs
October 16, 2008 8:00 a.m. ET (11:00 p.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

Fed hints about further rate cuts remind me of Will Rogers observation about Congress: This country has come to feel the same when Congress is in session as when the baby gets hold of a hammer. Artificially low interest rates got us into this mess. So the Fed's proposal to fix it is to — you guessed it — cut interest rates. This is a road to nowhere.

Ever since the mid-1980s, interest rates have been in a downward cycle, with each series of rate cuts ending lower than the preceding one. Each time the economy went into recession, the Fed lowered rates to soften the fall. They succeeded in postponing the inevitable, but also in extending the market further from its equilibrium. So that the next downturn required even more severe action. The Fed would then lower rates further — in order to save the now weakened economy from a hard landing. After successive cycles, we are now approaching the point of zero interest rates.

He does real good Basic TA as well with Straight forward Charts like Louise Yamada does.

incrediblecharts.com
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