Boring nerds for a boring economy
The Fed is a joke, not too funny but still a joke. Greenspan enabled Wall Street's financial deceptions both in the dot com bubble and the housing bubble. All that Ayn Rand nonsense he was drunk on has once again proven to be right wing, conservative bunk. The Fed under Bernanke with its recapitalizations of the financial institutions that were run as criminal enterprises is using the futures of the many to pay off the crimes of the few. The interest rates the Fed charges are irrelevant under 2%. What little lending there is from major institutions is already at interest rates that do not dissuade any potential borrowers. This is pushing on a rope. There is no movement at the other end. All the Fed can do is to give public monies to those who should otherwise be indicted for fraud. Any semblance between the Fed and a lawfully chartered enterprise is another deception.
A RANGE from 0% to 0.25%? What does it mean that they can't pick a value?
Olephart is 100% correct.Jimdotz, I think it means that if you have connections, the Fed will give you free money. If you don't, you get almost free money. That is, if you are a bank. If you actually produce something, you get the back of the hand across the mouth.Looks like Ill. Gov. Blagojevitch has joined the Fed. Just cross their palms with silver.
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