Just said that if you adjust the dollar, based on the weakness we've had, the market would be flat.
I seriously doubt that many people realize how negative this is or the implications that it has down the road.
What was the FED thinking by lowing 1/2 BP? Talk about economic suicide. Does anyone think that all those talking heads on CNBC got to him?
Maybe he watched Larry Kudlow too much, he had the shock and awe idea the night before. Well, we are still paying for the last time our government had a shock and awe campaign, granted it is on someone elses terrritory. Hate to see what the current shock and awe economic campaign will do to our country.
He wanted to bail out his wall street friends. Or, Bush squeezed his balls and force him to cut drastically.
The data did not support such a drastic cut. Dollar is dead and foreign governments are converting their foreign exchange reserves from dollar to euro (i.e. no buyer for US treasury, meaning US cash flow is choked).