If I would have told you a year ago that the Fed dropped the rate 3/4 of a point in one day, first time in 20 years something like that happened, and the stock market had STILL dropped, you probably would have figured:
1) That the president got shot
2) That a massive natural disaster had hit
3) That a dirty bomb had gone off in a major city
4) That the stock market had crashed 50%
In the end, this 3/4 point cut will be followed up by many more. Bernanke will end up taking rates below the rate of inflation, and we're probably already there today. It's amazing that a 3/4 point cut hit and stocks STILL dropped. That should show you the extent of the mess we're now in.
Another fun day in the markets today. Especially those of you with your stash in nice safe places, who saw all of this coming.