December 16, 2008

  • Insanity

    We have officially entered the territory of insanity.  We have never, ever lived in a world where the Fed interest rate is 1/4 of a percent.  Let me say this again: 0.25%.

    Fed Cuts Benchmark Rate to Near Zero

    By EDMUND L. ANDREWS
    Published: December 17, 2008

    Having reduced its key rate to a record low, the Fed said that it would use “all available tools” to fight the recession and downward pressure on prices.

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