You know that there's a panic when the markets react to a 3/4 percent cut by the Fed as really bad news. We are officially in a widespread panic.
Seems to have been a time delay. Until the next subprime convulsion.
but do you think the people will see any of that cut? Not a fucking chance. It will all go to reducing the festering red ink of the now partially Arab owned banks.
Total rot. Just like the minds of anyone who can still (with a straight face) support the Bush Crime Syndicate.
In this economy where people have so much debt, how do they know that people, strapped by falling house values, won't just pay down their debts or (gasp) actually save money for the impending downturn.
Plus, it will be July before the rebates become available. Like Iraq, it's one of these problems that don't have a solution.