Econ. 101

Boo-ya!

Howard Blackstein presents the sort of honest economic analysis [in ALL CAPS no less] you won't see on CNBS...

THE DIRTY TRUTH ABOUT THE FEDS ACTIONS- WHEN THE FED 1) CUT THE DISCOUNT RATE BY 50 BASIS POINTS,AND 2) CUT THE FED FUNDS AND DISCOUNT RATES SEPT. 18,WHO DID THEY HELP?

IF WE ANSWER THAT QUESTION,WE KNOW WHO THE FED REALLY THINKS MATTERS!!! THEY HELPED THE BANKS, BUT NOW CREDIT IS TIGHTER FOR THE AVERAGE CONSUMER THAN BEFORE!!!

THEY LOWERED THE SHORT TERM INTEREST RATE THAT BANKS MUST PAY TO DEPOSITORS - THUS HURTING RETIRED AND AVERAGE INCOME PEOPLE!!!

THEY HURT THE HOUSING MARKET BY THE FACT THAT BY LOWERING THE FED FUNDS RATE, THEY LOWERED THE APPETITE FOR FOREIGNERS TO HOLD OUR LONG PAPER , THUS RAISING THE INTEREST RATES THAT DETERMINE MORTGAGE RATES.

THEY WILL BAIL OUT THE RICH, BUT THEY WILL LET THE REST OF US SWING IN THE BREEZE.

THEY WILL NOT FUND CHILDRENS HEALTH CARE,BUT THEY WILL DEFEND WITH THEIR LIVES THE 15% DIVIDEND TAX RATE ,WHICH ONLY THE RICH TAKE ADVANTAGE OF. SAVERS PAY THE HIGHER, REGULAR INCOME TAX RATE ON INTEREST.

THIS IS A GOVT OF THE RICH, BY THE RICH AND FOR THE RICH!!!!!