money.cnn.com — Even if the central bank starts to cut rates aggressively, many of the risks for the U.S. economy are beyond its reach. Problems in housing, the financial markets and the first job decline in four years have made a Federal Reserve rate cut next week all but certain. But it has also raised talk about a recession -- and whether the Fed is able...
Sep 13, 2007 View in Crawl 4
yodaj007Sep 14, 2007
No, CixeL, a depression is not defined by human suffering. It is defined by economic criteria. What you are talking about is the EFFECT of a depression.
netantSep 15, 2007
Addendum: I do admire the fact that at least you applied some research and critical thinking to the matter. I knew a guy desperately trying to keep his house, despite the fact that the locality was too economically depressed to employ him. Once he realized the American dream was a load of BS, and not worth going into forclosure, he became a lot more realistic about his options.
fizzymintsodaSep 15, 2007
Neither is for sure. Prime Rate is tied to the percived credit risk of a banks best customers. e.g. large, financialy sound businesses. This rate does not even have to be the same from bank to bank. So how does the amount of available credit in the economy get changed? Easy, the fed will sell Treasury Bonds that it holds (not new ones) thereby reducing the amount of available cash in the market. Now, people and biz dont have the cash to put in the banks b/c they bought the bonds the Fed sold. As a result the banks have less cash and since they must have a min cash balance to cover demand deposits (a % that is set by the fed) they are more picky about who they lend to. If the Fed wants to increase credit they buy bonds putting cash back iinto the market doing the oposite of what I just explained. Or, they could just change the % banks are required to keep as reserves.
rarsonSep 15, 2007
Or maybe he's just getting dugg down because the stock market is overvalued? How about that?A lot of people don't even realize how much of this housing/subprime mortgage crap is actually DIRECTLY tied into the stock market. How is it you think the banks became so cavalier with their money to just lend it out to all these people that had no business borrowing so much? They wrapped it up in options on the stock market. If you take a look into Goldman Sachs in particular, you'll realize that any investment in them is a particularly BAD investment.We also can't ignore the genius of "level 3 gains," which companies are now using to boost their bottom line with imaginary valuations of things that don't even bring the company profit.
rarsonSep 16, 2007
No, that's not what he said. He said IF the Fed interfered too much, bad things would happen. I said that bad things WILL happen because they DO interfere too much. I wouldn't have posted it if it wasn't worth mentioning.
mhmdkhamisDec 15, 2007
The federal government also contributed to the growing gap between the rich and middle-class. Calvin Coolidge's administration (and the conservative-controlled government) favored business, and as a result the wealthy who invested in these businesses. An example of legislation to this purpose is the Revenue Act of 1926, signed by President Coolidge on February 26, 1926, which reduced federal income and inheritance taxes dramatically11. Andrew Mellon, Coolidge's Secretary of the Treasury, was the main force behind these and other tax cuts throughout the 1920's. In effect, he was able to lower federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,00012. Even the Supreme Court played a role in expanding the gap between the socioeconomic classes. In the 1923 case Adkins v. Children's Hospital, the Supreme Court ruled minimum-wage legislation unconstitutional13.<a class="user" href="http://download.free-software.cc">http://download.free-software.cc</a><a class="user" href="http://mobile.free-software.cc/">http://mobile.free-software.cc/</a>
writerwriterFeb 8, 2008
Yes, the coin has been minted and yes, there are photos on line and yes, there is coverage in the national (US and Canadian) media and yes, this has been in planning for ages and yes, the docs have been signed. In my country, our past PM signed a doc that allowed for this currency to go forward. This is not conspiracy news. This is a fact and yes, NBC covered it. There are photos and coverage at www.stupid-files.blogspot.com