Fed cuts interest rates by .25%

[intogamer]

Originally posted by: mjuszczak
So would it seriously be a good idea to move money to paypal and convert it to the Euro?

No because 1st its PAYPAL and 2nd. Conversion rates aren't real time.

 

[Vette73]

Originally posted by: GTaudiophile

Originally posted by: Marlin1975

Originally posted by: GTaudiophile

Originally posted by: redgtxdi
3,

2,

1........

Mother Fsckin Son of a Cork Soakin' Son of a !$#$%!~!~!#$~@$^%~$^~!@~#$


I think somebody needs to throw a horse's head in Bernanke's bed!!! :|

Hey Bernanke......................STAY THE FSCK OUT OF THE MESS PEOPLE HAVE MADE FOR THEMSELVES!!! MAKE THESE FSCKING PEOPLE ACTUALLY ***DEAL*** WITH THE CONSEQUENCES OF THEIR BULLSH!T FOR ONCE!!!!!!!!!!!!!!!!!!!! :|

I'm sick to my fscking stomach!!!!!!!! :|

Why aren't enough Americans as sick as we are and willing to take action?

Most people are to dumb to understand. Just go to wal-mart and take a survey on what they think about the rate drop. :laugh:
better yet ask them also if they think Iraq had a direct hand in 9/11 and see what % say yes. I'm betting more then 1/3

Most wouldn't understand as the question(s) would be asked in English...and I don't speak Spanish.

¿Qué

 

[Modular]

I love all the fearmongers that come out in posts like this.

THE US IS DOO000M3D ZOMG RUNN!1/

Edit: The people who know wtf they are talking about and are actually involved in the processes that make this economy and the world economy run are not the same, and know much more than anyone here on the ATOT forum. I understand that means that I am not one of those people, but at least I have enough common sense not to become an intarweb forum doomsdayer.

 

[Slew Foot]

Yup, cant say I didnt see this coming even though its probably the wrong thing to do. Dollar in the tank, GDP at 4%, unemployment under 5%, and he goes and cuts the rate. Idiot.

Sometime in the next week, Dave is going to post an I told you so thread about Oil at $100 a barrel.

P&G just announced a 5% increase in the price of their products due to high energy costs, inflation here we come.

 

[UNCjigga]

Originally posted by: Special K
Why does the Fed lowering interest rates cause short term surges in the stock market, and why exactly will it cause the price of oil to rise and the value of the dollar to fall? I have read these statements over and over on here but have not seen any accompanying explanation.

Sorry, finance n00b here.

Macroeconomics

 

[Vette73]

Originally posted by: Modular
I love all the fearmongers that come out in posts like this.

THE US IS DOO000M3D ZOMG RUNN!1/

Edit: The people who know wtf they are talking about and are actually involved in the processes that make this economy and the world economy run are not the same, and know much more than anyone here on the ATOT forum. I understand that means that I am not one of those people, but at least I have enough common sense not to become an intarweb forum doomsdayer.

So you are saying that the dollar dropping and oil shooting over a $100, let alone all the other factors, will not hurt us in anyway.

 

[alphatarget1]

Originally posted by: GTaudiophile
Well, let's say you have $10,000 USD and you put it in Euro Bank X at today's exchange rate of about 1.44. So you have 6.945 EUR in the bank earning interest. Let's assume a high interest rate of 5% per year, so you leave your money in EBX for two months and have 6.950 EUR in the bank but the Euro has strengthened to 1.6:1 and is now worth $11,120 USD. Wouldn't be too bad would it?

I for one believe the USD may never be 1:1 with the EUR again.

No European bank in the Eurozone would pay 5% APY.... At least in Germany.

 

[Ns1]

Doesn't this mean exports will go up and thus decrease the trade deficit?


discuss.

 

[Modular]

Originally posted by: Marlin1975
So you are saying that the dollar dropping and oil shooting over a $100, let alone all the other factors, will not hurt us in anyway.

Do me a favor and don't try and bait me into some stupid P&N "discussion" in the OT section. You and I both know I said nothing of the sort. Will it hurt? Sure. Will it get better? Absolutely. Is it doomsday? Should we all move out of the country? Be my guest man.

It's never as bad as people think it is. Sure, this was a huge mistake: the whole thing from sub-prime lending to this cut in rates, but in the end, the US is NOT going anywhere and realistically, you may pay an extra $10-spot a month for groceries, and maybe $10 for gas as well. Cancel your subscription to Maxim and stop bitching.

 

[Vette73]

Originally posted by: NeuroSynapsis
Doesn't this mean exports will go up and thus decrease the trade deficit?


discuss.

On paper yes but we do not have as much in terms of manufactoring as we did. Heck the last Autoworkers strike was about keeping GM from closing more plants down in the us. Also China ties its currency into the US dollar. So if we drop they do as well. That way its still better to produce over there then here.

So nope very little good, IMO, will come of this.

 

[OS]

wow, I for one am actually surprised so many ATers here "get it" on this rate cut whoring. It is explicitly done to prop up the banks that made bad bets.

The stupid housing market excuse, fed cut doesn't do dick. The entire housing bubble was entirely because short term rates were too low, giving rise to stupid short term, "exotic" mortgages. You can't cure a f*cken drunk by giving him more shots. It just props up the stock market while killing the middle class.

Fixed (you know, the stable ones) mortgages are based off the long end of the bond market, which is all over the place. Hell the last time fed did that stupid .50 cut, the bond market took a sh*t, drove up long term rates.

You guys really need to start writing and calling your congressional reps, everyone. The longer this stupid sh*t goes on, the more our money becomes worthless and oil goes up. I am really starting to wonder if in the coming year or two we are gonna see $5/gal gas.

 

[Ns1]

Originally posted by: Marlin1975

Originally posted by: NeuroSynapsis
Doesn't this mean exports will go up and thus decrease the trade deficit?


discuss.

On paper yes but we do not have as much in terms of manufactoring as we did. Heck the last Autoworkers strike was about keeping GM from closing more plants down in the us. Also China ties its currency into the US dollar. So if we drop they do as well. That way its still better to produce over there then here.

So nope very little good, IMO, will come of this.[/u]

What about other markets? It's small chump change, but I do some work for a paintball retailer. I've noticed foreign (ie EU) countries are demanding more of our product.

Doesn't this make travel more attractive too? Relative to hot tourist destinations, US is safe and is now cheaper than ever (for Europeans) to visit.

I'm not for or against this rate cut, I'm just throwing out some stones for discussion.

 

[2Xtreme21]

Just bought 800 pounds and 250 euros this morning.

 

[waggy]

well we were thinking of getting a home equity loan and redoing teh roof/bathroom and kitchen heh

 

[txrandom]

I'm glad I just locked into a 5.65% APY 1 year CD.

 

[OS]

Originally posted by: NeuroSynapsis
What about other markets? It's small chump change, but I do some work for a paintball retailer. I've noticed foreign (ie EU) countries are demanding more of our product.

Doesn't this make travel more attractive too? Relative to hot tourist destinations, US is safe and is now cheaper than ever (for Europeans) to visit.

I'm not for or against this rate cut, I'm just throwing out some stones for discussion.

The US is a deficit whoring, NET importer, so devaluing currency immediately hurts us more than it helps.

Sure, it helps exports, if the US made anything anymore. Yes it will help exports in the mid to long term, but I'm not sure what good that is when oil is hitting $95/barrel now.

 

[eleison]

Yea, this is definitely good news. Odds are good there will be more 0% interest offers from banks. I feel bad for those people who saved.. now their money is being worth even less!!! Which reminds me, come black friday, buying a big screen lcd would make financial sense..

 

[HeroOfPellinor]

Originally posted by: Marlin1975

Originally posted by: redgtxdi
3,

2,

1........

Mother Fsckin Son of a Cork Soakin' Son of a !$#$%!~!~!#$~@$^%~$^~!@~#$


I think somebody needs to throw a horse's head in Bernanke's bed!!! :|

Hey Bernanke......................STAY THE FSCK OUT OF THE MESS PEOPLE HAVE MADE FOR THEMSELVES!!! MAKE THESE FSCKING PEOPLE ACTUALLY ***DEAL*** WITH THE CONSEQUENCES OF THEIR BULLSH!T FOR ONCE!!!!!!!!!!!!!!!!!!!! :|

I'm sick to my fscking stomach!!!!!!!! :|

yea its great we should bail out mortgage companies, investors, banks, etc... yet we give a kid some oatmeal or a cheese sandwich then all the neocons come out saying they put themselves in that sititution, its their own fault, let them learn the hard way, etc...

Meanwhile, the lefty libbies maintain their dominance on generalizations.

 

[Mark R]

Originally posted by: 2Xtreme21
Just bought 800 pounds and 250 euros this morning.

Bear in mind that there are growing pressures on the Bank of England to cut rates too.

Major banks struggling - Northern Rock has now borrowed $50 billion in emergency funds, etc. House prices falling, Foreclosure rates surging.

Having said that there are good reasons not to:

oil price surging, natural gas and electricity prices rising fast (due to half the UK's nuke plants being offline until further notice), massive rises in food prices (bread expected to rise 40% in the next few months).

Who knows what the BoE will decide. I wonder if they'll say to hell with the pound, and just slash them to save the banks, and the national debt.

 

[redgtxdi]

Originally posted by: waggy
well we were thinking of getting a home equity loan and redoing teh roof/bathroom and kitchen heh

Hey..........that's still OK!!

Figure the roof..............$5..........err.............$50K

Bathroom...........$30K

Kitchen...........$50K


And that may LOOK like a lot, but January 1, minimum wage goes up to $52/hr, so if you talk to your employer...............may all work out after all, eh??

 

[Doodoo]

Originally posted by: Modular

Originally posted by: Marlin1975
So you are saying that the dollar dropping and oil shooting over a $100, let alone all the other factors, will not hurt us in anyway.

Do me a favor and don't try and bait me into some stupid P&N "discussion" in the OT section. You and I both know I said nothing of the sort. Will it hurt? Sure. Will it get better? Absolutely. Is it doomsday? Should we all move out of the country? Be my guest man.

It's never as bad as people think it is. Sure, this was a huge mistake: the whole thing from sub-prime lending to this cut in rates, but in the end, the US is NOT going anywhere and realistically, you may pay an extra $10-spot a month for groceries, and maybe $10 for gas as well. Cancel your subscription to Maxim and stop bitching.

Didn't you get the memo? Everyone on ATOT is a millionaire, dates a supermodel, and is a genius. Everyone here can do a much better job than Bush or Bernake.

 

[waggy]

Originally posted by: redgtxdi

Originally posted by: waggy
well we were thinking of getting a home equity loan and redoing teh roof/bathroom and kitchen heh

Hey..........that's still OK!!

Figure the roof..............$5..........err.............$50K

Bathroom...........$30K

Kitchen...........$50K


And that may LOOK like a lot, but January 1, minimum wage goes up to $52/hr, so if you talk to your employer...............may all work out after all, eh??

yeah thats all great...except i retired a few years ago LOL..

man this keeps up i'm going to have to go back to work =(

 

[waggy]

Originally posted by: Doodoo

Originally posted by: Modular

Originally posted by: Marlin1975
So you are saying that the dollar dropping and oil shooting over a $100, let alone all the other factors, will not hurt us in anyway.

Do me a favor and don't try and bait me into some stupid P&N "discussion" in the OT section. You and I both know I said nothing of the sort. Will it hurt? Sure. Will it get better? Absolutely. Is it doomsday? Should we all move out of the country? Be my guest man.

It's never as bad as people think it is. Sure, this was a huge mistake: the whole thing from sub-prime lending to this cut in rates, but in the end, the US is NOT going anywhere and realistically, you may pay an extra $10-spot a month for groceries, and maybe $10 for gas as well. Cancel your subscription to Maxim and stop bitching.

Didn't you get the memo? Everyone on ATOT is a millionaire, dates a supermodel, and is a genius. Everyone here can do a much better job than Bush or Bernake.

WTF i am sopposed to be dateign a supermodel? damn here i was dateing a actress (just don't tell my wife).

and a genius? only when i drink.

 

[XZeroII]

Originally posted by: mjuszczak

Originally posted by: QuaziK
obviously the dollar is being destroyed to make way for the Amero.

How close to reality are we to a unified currency with Canada?

Not close at all. Unifying currency is, in general, a horrible idea. Lots of countries in the EU were ready to bail on the Euro years after is was instated because it was hurting them so much. Basically, everything is fine until recession hits. Then everything goes to crap.

 

[Vette73]

Originally posted by: OS

Originally posted by: NeuroSynapsis
What about other markets? It's small chump change, but I do some work for a paintball retailer. I've noticed foreign (ie EU) countries are demanding more of our product.

Doesn't this make travel more attractive too? Relative to hot tourist destinations, US is safe and is now cheaper than ever (for Europeans) to visit.

I'm not for or against this rate cut, I'm just throwing out some stones for discussion.

The US is a deficit whoring, NET importer, so devaluing currency immediately hurts us more than it helps.

Sure, it helps exports, if the US made anything anymore. Yes it will help exports in the mid to long term, but I'm not sure what good that is when oil is hitting $95/barrel now.

That and the travel thing looks good on paper and you might sêe some upswing, maybe, but the US's image right now is not good so many are not coming here. Heck the person Bush has in charge of global image just quit. She more then doubled the budget yet our image rating dropped down to 30% in some places they polled.