Fed Intrest Rate Hike – Might be the last straw

This post was written by marc on June 30, 2004
Posted Under: Politics

The FED raised the interest rate today and it might be the last straw that will break the fragile economy. We are running on totally false numbers. Gas prices and energy prices spiraling out of control – health care costs in double digit inflation – and wages continue to drop. This is insanity and things are about to break. America is on the verge of collapse.

Reader Comments

The economy is not going to collapse beacuse of a 1/4% increase in the prime interest rate. The implosion wil be more like a slow cancer-caused death. It’s going to take at least a decade for the inevitable demise to really sink in. By then it will be too late to plug the dike.

#1 
Written By Jizzy Jim on June 30th, 2004 @ 9:53 pm

Report back in a few months. You’ll find yourself wrong again!

#2 
Written By Randy Charles Morin on June 30th, 2004 @ 9:55 pm

Al Greenspan knows what he is doing. This 25 basis points hike is long overdue and was well telegraphed. The reason it took this long was pressure from the White House and Greenspan wanted to insure his reappointment.

#3 
Written By richard on July 1st, 2004 @ 7:41 am

In Greenspan We Trust!

#4 
Written By Alex Libman on July 1st, 2004 @ 8:03 am

Damn fucking straight, “In Greenspan We Trust.” He got us through your wonderful “Clinton Boom,” which was more connected to smart Greenspan economics than anything else. Marc, Greenspan understands the US economy more than you can possibly comprehend–let him do his job.

#5 
Written By Mance on July 1st, 2004 @ 10:08 pm

If you people that like greenspan why don’t you read what he wrote about being in charge of the economy, quote he has no idea what he was doing. Its all a game. Do you know the feds don’t own the banks

#6 
Written By Ron on September 1st, 2007 @ 7:05 am

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