 |
|
09-18-2007, 01:02 PM
|
#1
|
|
Recycles dryer sheets
Join Date: Jul 2006
Posts: 235
|
My salute to Big Ben
Big Ben, you are my hero.
The market is dancing under your finger.
A happy 200 DOW with a double dose.
Why worry, you still have 19 left.
Some comments on the rate cut?
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
|
09-18-2007, 01:06 PM
|
#2
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
|
Jim Rogers was on Squawk this morning, giving BB hell, declaring that we're already in recession, but that the Fed should raise rates...
Also recommended buying farm commodities, hard currencies, and China...
As for me, whew, I hope this stems the bleeding a bit, 'cause there's too much money sloshing around already, waiting to bubble up somewhere else...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
|
|
|
|
|
09-18-2007, 01:08 PM
|
#3
|
|
Recycles dryer sheets
Join Date: Jul 2006
Posts: 235
|
One thing is sure, dollar will go ****.
|
|
|
|
|
09-18-2007, 01:11 PM
|
#4
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
I was surprised they did 50 BP. I thnk they needed to, but that they would be too worried about proving their inflation-fighting credibility.
Good for them. They can always take it away later if the stimulus is no longer needed.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
|
|
09-18-2007, 01:17 PM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
|
I don't think the cut will do much, but it's nice to see the markets party for a day. It's hard to figure out how big the fallout will be from the various messes we're in. Will I someday wish that I had sold on this day? Who knows....
I'm thinking about buying some NZ dollars, though. 
__________________
Emancipated from wage-slavery since 2002
|
|
|
|
|
09-18-2007, 01:30 PM
|
#6
|
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
 Quote:
Originally Posted by brewer12345
I was surprised they did 50 BP.
|
Haven't seen this for a while. Every time I refreshed my screen the Dow was up 20 points. The daytraders must've been going nuts!
KRE's up over 3.5%. I hope the regional banks don't screw up this free boost.
I guess we're not going to see 5% CDs for a while, let alone anything approaching 6%...
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
|
|
09-18-2007, 01:31 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by Nords
I guess we're not going to see 5% CDs for a while, let alone anything approaching 6%...
|
Lock in those CD's now........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
|
|
09-18-2007, 01:40 PM
|
#8
|
|
Recycles dryer sheets
Join Date: Jul 2006
Posts: 235
|
Dollar is even with Canadian dollar. Gold 720. Oil 80. Milk 4/G.
But inflation is under control.
|
|
|
|
|
09-18-2007, 01:43 PM
|
#9
|
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
I think the time to do that was pretty much anywhere during the last six months!
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
|
|
09-18-2007, 01:45 PM
|
#10
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
|
Still plenty of CD's looking good. 5.7% at IndyMac, for example.
CD Thread, Post The Best Rates You Can Find Here!
The fed cut doesn't change longer-term rates much. China does that for us.
__________________
Emancipated from wage-slavery since 2002
|
|
|
|
|
09-18-2007, 02:23 PM
|
#11
|
|
Full time employment: Posting here.
Join Date: Dec 2006
Location: Florida
Posts: 854
|
just got out of meetings and saw this thread. i had missed the news, so I just checked accounts. Yeah, a party. Wonder how long it will last - next earnings or employment figures maybe.
__________________
I would not have anyone adopt my mode of living...but I would have each one be very careful to find out and pursue his own way, and not his father's or his mother's or his neighbor's instead. Thoreau, Walden
|
|
|
|
|
09-18-2007, 02:42 PM
|
#12
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
|
Quote:
Originally Posted by brewer12345
I was surprised they did 50 BP. I thnk they needed to, but that they would be too worried about proving their inflation-fighting credibility.
Good for them. They can always take it away later if the stimulus is no longer needed.
|
Agree. I was expecting 25 BP, but no more.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
|
|
|
|
|
09-18-2007, 02:50 PM
|
#13
|
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
I am really surprised, too. I thought there might be a cut, but I was not expecting a big one like this.
Should be interesting/educational to watch what ensues.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
|
|
09-18-2007, 03:46 PM
|
#14
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
|
Quote:
Originally Posted by Nords
I guess we're not going to see 5% CDs for a while, let alone anything approaching 6%...
|
Bought a couple of 1 yr. CD's through Schwab at 5.05 today prior to 2:15. Rates have come down over the past few days. The 2 & 3 yr. were even less. I guess the Banks are expecting more cuts.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
|
|
|
|
|
09-18-2007, 04:28 PM
|
#15
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
|
The jump we saw in the indices today may just be due to the traders covering their short positions.
That jump may just disappear tommorrow.
I guess we will see now won't we.
|
|
|
|
|
09-18-2007, 04:36 PM
|
#16
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
I feel like I can't really predict what might or might not happen. But it stretches my credulity to think that dropping one interest rate in one country can cure the various problems that we are seeing. Note also that Easy Al is bugging Ben daily with reminders of all the hazards that he faces, and all the errors that he might make.
I dumped many of the stocks this afternoon that I bought in mid August. They may keep right on rising, but in my mind they are not really cheap and thus would very likely suffer price reversals in a recession. I prefer to sell before everyone has reached this conclusion.
Remember that Al lowered rates all through the extensive stock price collapse in 2000-2002, and the collapse still went on. I prefer liquidity at this point- but I may just be getting old and over cautious.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
|
|
09-18-2007, 05:39 PM
|
#18
|
|
Thinks s/he gets paid by the post
Join Date: Jul 2006
Posts: 1,901
|
Quote:
Originally Posted by barbarus
|
This may be true, only time will tell. However, I think the Fed was asleep at the wheel and the jobs report was the jolt that woke them up. The economy was growing at 1 to 1.5% well off the healthy normal of 2.5 to 3%. Ben had no choice, the dangers were too great to ignore.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
|
|
|
|
|
09-18-2007, 06:13 PM
|
#19
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
|
I was surprised at the size of the cut.
The exchange rate markets have been pricing it in.
Euro = $1.396
Australian = .85
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
|
|
|
|
|
09-18-2007, 06:16 PM
|
#20
|
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
|
In the futures market, the odds were pretty even for 25bp vs 50bp. 25bp had a slight edge, but not much.
The odds for the December meeting currently favor another 25bp cut.
__________________
Emancipated from wage-slavery since 2002
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
