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.
Posted by marc at June 30, 2004 08:52 PM | TrackBackThe 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.
Posted by: Jizzy Jim at June 30, 2004 09:53 PMReport back in a few months. You'll find yourself wrong again!
Posted by: Randy Charles Morin at June 30, 2004 09:55 PMAl 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.
Posted by: richard at July 1, 2004 07:41 AMIn Greenspan We Trust!
Posted by: Alex Libman at July 1, 2004 08:03 AMDamn 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.
Posted by: Mance at July 1, 2004 10:08 PMIf 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
Posted by: Ron at September 1, 2007 07:05 AM