MMV, they've already cut and look what happened. The problem is, lower rates in the US are no longer what the world needs. The world needs less financial speculation and more savings. Japan flat out needs much higher rates, but few of us see that fact. The American consumer cannot buy all the overcapacity on the world markets, no matter how low rates go. And lower rates just encourages the Long Term Capitals of the world to act like jackasses.
So, I don't know what the immediate reaction to a conspiracy rate cut for no reason would be. Longer term, it would be negative.
About the tecs. Semi monopolies like Intel, MSFT, and the dopers had a tough time today, but they are still making profits and do have a future. Meanwhile, MU, which is losing its shirt with no hope of a turnaround, moves up. Oh, yeah, this market is sane. <G>
MB |
