Disaster Looms Ahead

Dean is still heading this way.  It’s already a huricane with winds of 125 mph moving at 22mph.  This one’s going to be a booger for who ever gets it and according the the latest 5day, it could be us.  And it’s going to be in the area about the time i’m getting my wisdom teeth out.  And on top of all that, The Fed cut the discount rate by half a percent today.  That’s not the prime rate (which everyone has been screaming for them to do) but the discount rate.  this is where banks borrow money overnight to give them access to more liquid cash.  With all the sub-prime mortages going flop, investors have been pulling out like crazy.  yesterday’s international trading was horrible.  The Fed left the rate alone during the past session but now you can see that they obviouly feel that want enough to try and bring the market up. 

One thought on “Disaster Looms Ahead”

  1. ok so we’re not all going to die this time… they are projecting it to hit futher south near cancun and tampico. oh well, maybe next time.

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