Wednesday, January 30, 2008

Fed Cuts Rate Again

The Federal Reserve cut its lending rate again, knocking it down another 50 basis points. The latest move added to its recent 75 basis-point reduction should enable many people to refinance their mortgages. Homeowners who were facing problems may see their borrowing difficulties disappear as the effect of lower short-term rates permits an increase in mortgage refinancings.

The scammers will have no luck, however. But lower rates will help new buyers acquire properties that were relinquished by people who defrauded lenders. That's a bit of good news in the middle of a bad situation.

Here's an idea for venturesome investors: Buy Washington Mutual stock. The symbol is WM.

Fed cuts key interest rate by half point
Wednesday January 30, 2:22 pm ET

WASHINGTON (Reuters) - The Federal Reserve cut a key interest rate by a half-percentage point on Wednesday as part of an aggressive effort to halt a sharp slowdown in an economy hit by a housing slump and a credit crunch.

The Fed's action takes the bellwether federal funds rate target to 3 percent, the lowest since June 2005, and comes just eight days after it slashed rates by a bold three-quarters of a point. Wednesday's follow-up reduction was in line with the expectations of many financial market participants.

The cumulative 1.25 percentage point reduction in the benchmark overnight rate in less than two weeks ranks among the most abrupt rate-cutting sprees in the modern history of the U.S. central bank.

7 Comments:

Anonymous myron johnson said...

And it will be primarily the Jews who will benefit.

Through thousands of years of the closest kind of inbreeding, Jews in general have maintained their race and their peculiarities far more distinctly than many of the peoples among whom they have lived.

Greed and big noses. Just walk Wall St.

2:48 PM  
Anonymous Myron said...

Don't think there is a Yiddish conspiracy!

Israel's expansion has included ethnic cleansing. Palestinians who had lived in that land for centuries were driven out by systematic violence and terror aimed at ethnically cleansing what became a large part of the Israeli state. The methods of groups like the Irgun and the Stern gang were the same as those of the Bosnian Serb leader Karadzic: to drive out people by terror.

Today the Israeli government continues seizures of Palestinian land for settlements, military incursions into surrounding countries and denial of the right of Palestinians expelled by terror to return. Ariel Sharon, Israel's prime minister, is a war criminal who should be in prison, not in office. Israel's own Kahan commission found that Sharon shared responsibility for the Sabra and Shatila massacres.

Sharon continues to organise terror. More than three times as many Palestinians as Israelis have been killed in the present conflict. There are more than 7,000 Palestinians in Israel's jails.

To obscure these truths, those around Israel's present government have resorted to demonisation. Initial targets were Palestinians, and have now become Muslims. Take the Middle East Media Research Institute, run by a former colonel in Israeli military intelligence, which poses as a source of objective information but in reality selectively translates material from Arabic and presents Muslims and Arabs in the worst possible light.

Today the Israeli government is helping to promote a wholly distorted picture of racism and religious discrimination in Europe, implying that the most serious upsurge of hatred and discrimination is against Jews.

2:56 PM  
Blogger no_slappz said...

myron,

Again you have succeeded in proving your ignorance about Jews. And you have expanded your ignorance to include the idiot arabs who have some connection to the region once known as Palestine.

Here's a little help for you. There was never a nation of Palestine.

Palestine is like the North Pole. We know where it is and we understand which part of the globe we are discussing when the North Pole is mentioned. But the North Pole is not and will never be a sovereign state.

That's how it is with the region known as Palestine. There was never a nation of Palestine.

However, if the idiot arabs in the area want to create a nation of Palestine, they can. All they have to do is accept the offer to live in the West Bank where they can have about 95% of the West Bank land.

I know you are an anti-Semite moron, but you should know that Israel has 6.5 million citizens. About 5 million are Jews and about 1.5 million are arab muslims.

Meanwhile the surrounding muslim states won't give citizenship to the so-called palestinians. For 60 years the nations surrounding Israel have shown their undying hatred for the muslims who left the land that became Israel.

If those idiot arabs had lived in the US, all children born in the US would be US citizens. But muslims are not like that. They thrive on bringing misery to each other. That is the muslim way, as history has shown since the schizophrenic nut muhammad was stricken in the desert 1400 years ago.

3:38 PM  
Blogger no_slappz said...

myron, another point, since you are hopelessly out of date.

Ariel Sharon is no longer the leader of Israel. He's been out of office for quite a while.

3:39 PM  
Anonymous Myron Johnson said...

The rate cut is just another jewish ploy to ruin the country.

The Jews love to spread financial hope with their Wall Street facilities! If we have any hope of success in counteracting their left-wing, race-mixing econonmic ploys we need:

two things: (1) A smashing, dramatic approach which could not be ignored, without exposing the most blatant press censorship, and (2) a super-tough, hard-core of young fighting men to enable such a dramatic presentation to the public, in-spite of the inevitable Jewish violence.

I examined the tactics of the Jews in dealing with all previous approaches to the problem, and found they had a sliding scale of increasingly vicious attacks on those who tried to expose and oppose them publicly.

The first and instinctive weapon of the Jew is economic. If you are an 'anti-Semite', then you and your family must starve, if it is in the power of Jewry to accomplish this -- which it almost always is, since they supply, control or patronize all businesses. The whole weight of Jewish business is brought to bear on anyone who dares to oppose these lovers of free speech. Usually this is enough to terrify and reduce any man, especially one with a family, to humiliating and disgusting submission to Jewry.

But if that doesn't work, they go after his reputation and social life. He is smeared and blasted and lied about in the Jew-controlled media of entertainment and information. He is called a 'bigot', a 'hate-monger', a 'failure' and finally, when all else fails, he is damned as a 'Nazi'.

5:04 PM  
Blogger no_slappz said...

myron, my demented commenter, do you know there are only 15 million Jews in the entire world. But there are 6.5 billion people on Earth.

Hence, Jews account for a little more than two-tenths of one-percent of the world's population.

You are obviously convinced they have super-human powers if you believe what you wrote.

6:00 PM  
Anonymous Anonymous said...

For once you made a cogent rebuttal!

5:50 PM  

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