The FED funds rate is set at 5.25. However, due to the massive black helicopter drop to save the IB's and HF's from their foolish ways, the FED funds rate is actually below this level. In effect, we now have a stealth rate cut. Wall Street - thank you Uncle Ben!
FED Funds Rates:
- 08/21 - 4.89%
- 08/20 - 5.03%
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"Bill Gross, manager of the world's biggest bond fund at Pacific Investment Management Co., urged the Bush administration, rather than the Federal Reserve, to bail out U.S. homeowners to avoid ``destructive housing deflation.''
In boom times, the money changing crooks couldn't care less about hard working middle class families. Our present situation is the result of immoral greed by the same financiers that now talk of a welfare bailout to "save the market."
Yeah, right.
The financiers greatest fear is working for a living.
And where would big deficit Bush get the money for the bailout? By borrowing from the Federal Reserve! The unconstitutional banking cartel gets richer, no matter what happens, and our Dollar turns to trash even faster.
A 25% to 50% drop in real estate values is the best long term solution for the health of our economy. No pain, no gain.
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