A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
collapsing us dollar,
The thing to do is raise rates this time and next to 5.75, and then start cutting steadily to 4.0. Pop all the bubbles that are still lingering and then let the currency fall so that the trade deficit falls and Americans are forced to take their oil addiction seriously.And yes, people dumb enough to live overseas and get paid in US currency will suffer. Tough dookie for them.
It was soo stupid to have rates at less than 10%. Would you personally loan money out for less?And who in the hell told the general public they deserve anything other than prime plus 3. IT"S PRIME. It's for PRIME risk, not your stupid house and car.
Agreed. Enough is enough already. Jack the rates, pop the bubble, flush out the clowns who are living on credit, and let's get back to a normal economy where success is based on producing something of value to others rather than faking numbers on loan applications.
Let the market take care of it.Lenders will go back to common sense and practice conservative lending standards, because jittery investors will say enough is enough. For those that binge on lax lending practice, then it is like what Poole said it is finally time for them to take the cure.
I want Ben to come out and raise rates this week so Cramer will suffer a brain aneurism live on CNBC.
The easy money "crackheads" are crying for more liquidity through Jim Cramer.Bernanke knows if he yields to their pressure he will defraud millions of seniors living on fixed income out of their economic security through inflation. DON'T DO IT BEN!!!!!!!!!!!!!
I say leave the rates as they are. I don't want to see a depression in which everyone suffers. Many people out there, including me and my family, did not go on vacations and buy McMansions. The 5.25% rate will be enough to kill this housing beast.
I will be assuming Big Ben drops rates later this year. US debt is too high to raise rates. You might cause a recession or something. The hard part right now is deciding whether or not to buy metals or just ride things out with cash at ~5% for the next 6-12 months. Responsible Fed policy demands interest rates to be at least 7% right now but when was the last time the Fed practiced responsible monetary policy?
"It's not time to be an academic!"
If Ben Bernanke didn't go crazy raised the interest rate, all these housing mess wouldn't happen. All the good economic that we had before Ben Bernanke took over went down the tube in a short time, people are loosing the house left and right. The economy went down the tube. Many countries pull their money out of US. He forgot one thing that all the money and good economy came from the housing mareket, if we loose that we'll have nothing left. I hope he use his common sense and drop the prime rate soon before it's too late. Hope Ben Bernanke do the right thing this time before the congress replace him with Alan Greenspan.
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