Just spied the above update in my stream at SocialThing.com.
So, let me get this straight. This is the *seventh* time they've cut rates in order to inspire more loan-taking in six months.
The *seventh* time.
I'm no economist, but I'm no idiot, either, but I think doing the same thing over and over but expecting different results is *probably* a waste of time.
Maybe it's time to stop spending money on wars and missile defense systems and start spending it on things at home?
See, too me, when people stop taking out loans it means they're uncertain they will be able to pay them back. Although very basic, this strikes me as a sign that people are suffering a crisis of faith in the system--aka a loss of confidence in the system.
Perhaps our leaders could try doing something other than cut interest rates to make us feel better about getting into more debt?
Or could it be that our system has finally peaked?
Mobile post sent by thepete using Utterz.
Orignal From: Federal Reserve Cuts Rates AGAIN
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