Wednesday, January 30, 2008

$200.00 a barrel oil?

The Fed/Bush/Beltway try to prop up a failing system:

Fed Cuts Rate by Half-Point; 2nd Reduction in 8 Days

ed Cuts Rate by Half-Point; 2nd Reduction in 8 Days

WASHINGTON — The Federal Reserve reduced short-term interest rates on Wednesday for the second time in eight days, meeting widespread expectations by investors on Wall Street for a big rate cut.

In lowering its benchmark Federal funds rate by half a point, to 3 percent, the central bank acknowledged that it is now far more worried about an economic slowdown than rising inflation, and it left open the possibility of additional rate reductions.

“Financial markets remain under considerable stress, and credit has tightened further for some businesses and households,” the central bank said in a statement accompanying its decision. In addition, it said, recent data indicated that the housing market is still getting worse and the job market appears to be “softening.”

and two 'bomb iran' candidates leading the primaries - thanks to media driven outright censorship and outright lies - the main stream media has shown blatant collusion - we' well on our way. The dollar already fell with the announcement of this latest bit of wisdom from Washington.

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