Egoist Blog Posted January 23, 2008 Report Share Posted January 23, 2008 By Martin Lindeskog from EGO,cross-posted by MetaBlog Is the US economy going downhill? Here is an excerpt from the article, Desperate measures: The deepening gloom about the economy may well warrant such an aggressive response. But the timing is puzzling. There is more than a whiff of panic about slashing rates little more than week before a scheduled meeting. The Fed statement issued with the decision rationalises the cut as a response to “downside risks to growth”—the phrase is repeated twice in six short paragraphs—and cites recent gloomy data on housing and jobs. Yet the economic news has not grown any worse in the past few days and, given the time needed before monetary policy affects spending, the added urgency seems odd. (The Economist 01/22/08.) Recommending reading: Are We the Greatest Threat to Global Prosperity? by Jonathan Hoenig of SmartMoney. The "R" Word and Franchising by Joel Libava of the Franchise King Blog. Have you read Alan Greenspan's book, The Age of Turbulence? Related: My post, MARKETS DON'T FAIL! http://ObjectivismOnline.com/archives/003213.html Quote Link to comment Share on other sites More sharing options...
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