Comments on: The Fed Scorecard: 9 Months of Cutting and Red Queen’s Race. Is the Fed Done Cutting Rates? http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/ How I Learned to Love Southern California and Forget the Housing Bubble Sun, 07 Sep 2008 23:51:01 +0000 http://wordpress.org/?v=2.2.2 By: exit http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14624 exit Wed, 14 May 2008 16:05:13 +0000 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14624 CNN Money has a couple of interesting articles today. http://tinyurl.com/45s6k9 - MSM seems to be getting the idea about bad stats, and even quotes shadowstats. http://tinyurl.com/5o9sx6 - the Fed might raise rates? CNN Money has a couple of interesting articles today.

http://tinyurl.com/45s6k9 - MSM seems to be getting the idea about bad stats, and even quotes shadowstats.

http://tinyurl.com/5o9sx6 - the Fed might raise rates?

]]> By: monday 1929 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14616 monday 1929 Wed, 14 May 2008 12:29:16 +0000 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14616 They all have long records of criminality and no one cares. I have Chase and Citi credit cards, and I know they are insolvent, morally bankrupt institutions who would (and do) kill if it is profitable and they can get away with it. They all have long records of criminality and no one cares. I have Chase and Citi credit cards, and I know they are insolvent, morally bankrupt institutions who would (and do) kill if it is profitable and they can get away with it.

]]> By: oilwelldoctor http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14593 oilwelldoctor Wed, 14 May 2008 03:55:12 +0000 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14593 Another good post Dr. Frankly, I don't know where you get the energy. Please remember Mr. Ben does not work for the American people, he works for the Federal Reserve which is owned by private banks. He will do whatever is necessary to keep private banking afloat; which is not bad in and of itself. Given the choice, I would much rather have the dollar in the hands of private bankers than in the hands of Washington! The oil price is just beginning to effect our economy. The Arabs don't like what Mr. Helicopter is doing with their dollars either (the peg) and will raise their price for oil accordingly. BTW, gasoline is $0.80/gallon here in Qatar. Another good post Dr. Frankly, I don’t know where you get the energy. Please remember Mr. Ben does not work for the American people, he works for the Federal Reserve which is owned by private banks. He will do whatever is necessary to keep private banking afloat; which is not bad in and of itself. Given the choice, I would much rather have the dollar in the hands of private bankers than in the hands of Washington! The oil price is just beginning to effect our economy. The Arabs don’t like what Mr. Helicopter is doing with their dollars either (the peg) and will raise their price for oil accordingly. BTW, gasoline is $0.80/gallon here in Qatar.

]]> By: Expat http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14591 Expat Wed, 14 May 2008 02:49:05 +0000 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14591 Contact your representative? And say what? Give me a break. If you don't pay these guys thousands of dollars, you get NO say in the running of this country. On average, a Congressman represents about 700,000 people. They don't care about YOU specifically. So, unless you can really convince them you mean business, and that means organizing enough people who threaten them with losing the next election, they really, truly don't give a rat's ass what you think or say. And frankly, everyone has their hand out to them...no one wants the pain. We all want more credit, lower taxes, and McMansions. They know that. They know that a few cranks will call up and complain. A few bloggers will castigate them. But, in the end, the fat, lazy Cheez Doodle eating hordes will not go to the polls or will simply vote for the fat, white guy who says he loves Jesus. Contact your representative? And say what? Give me a break. If you don’t pay these guys thousands of dollars, you get NO say in the running of this country. On average, a Congressman represents about 700,000 people. They don’t care about YOU specifically.

So, unless you can really convince them you mean business, and that means organizing enough people who threaten them with losing the next election, they really, truly don’t give a rat’s ass what you think or say.

And frankly, everyone has their hand out to them…no one wants the pain. We all want more credit, lower taxes, and McMansions. They know that. They know that a few cranks will call up and complain. A few bloggers will castigate them. But, in the end, the fat, lazy Cheez Doodle eating hordes will not go to the polls or will simply vote for the fat, white guy who says he loves Jesus.

]]> By: Scott http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14582 Scott Tue, 13 May 2008 22:02:13 +0000 http://www.doctorhousingbubble.com/the-fed-scorecard-9-months-of-cutting-is-the-fed-done-cutting-rates/#comment-14582 I'm having trouble seeing this Wall St bailout you speak of. Yeah, Charlie Prince, Stan O'Neil and a few others lost their jobs and got ridiculous severance packages but you aren't going to find many shareholders of banks and other financial services companies smiling or thinking they were 'bailed out' . The Fed did intervene to keep them 'solvent' with its lending facilities even though many were/are not but Central banks always have to do this when the big banks blow it. May not be fair but unless you were willing to see what happens if Citi, UBS, Wamu, Merrill Lynch, Lehman etc don't open for business one morning the Fed, like the Bank of England and the ECB had to start pouring a few hundred billion in or that's exactly what would have happened. As you note, a few trillion in home valuations has melted away. A lot of that value was on the banks balance sheets. The Central banks are merely playing for time hoping that over time the banks can generate enough new capital ( and profit from the lower interest rates) to absorb the huge losses they have taken. It is also the case that by trying to force rates down the Fed was trying to prevent a total collapse in the real estate market which would be likely if the prime rate was 3% or so higher than it currently is. Annoys me for sure because I have a large cash position that will soon be earning negative real interest but against the backdrop of a total financial meltdown which was staring the Central Banks in the face I'm not sure what other course they could have taken. I’m having trouble seeing this Wall St bailout you speak of. Yeah, Charlie Prince, Stan O’Neil and a few others lost their jobs and got ridiculous severance packages but you aren’t going to find many shareholders of banks and other financial services companies smiling or thinking they were ‘bailed out’ . The Fed did intervene to keep them ’solvent’ with its lending facilities even though many were/are not but Central banks always have to do this when the big banks blow it. May not be fair but unless you were willing to see what happens if Citi, UBS, Wamu, Merrill Lynch, Lehman etc don’t open for business one morning the Fed,
like the Bank of England and the ECB had to start pouring a few hundred billion in or that’s exactly what would have happened. As you note, a few trillion in home valuations has melted away. A lot of that value was on the banks balance
sheets. The Central banks are merely playing for time hoping that over time the banks can generate enough new capital ( and profit from the lower interest rates) to absorb the huge losses they have taken. It is also the case that by trying to force rates down the Fed was trying to prevent a total collapse in the real estate
market which would be likely if the prime rate was 3% or so higher than it currently is. Annoys me for sure because I have a large cash position that will soon be earning negative real interest but against the backdrop of a total financial meltdown which was staring the Central Banks in the face I’m not sure what other course they could have taken.

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