Sept. 18th is the date that the Fed is expected to cut rates by 1/4-1/2 a percentage point. Will they do it, or leave rates unchanged?

“In truth, there hasn’t been any growth in the economy since Bush took office in 2000. What we’ve seen is an ever-expanding bubble of personal and corporate debt amplified by a “structured finance” system that magically transforms liabilities (subprime loans) into securities and increases their value through leveraging… The financial system has decoupled from the productive elements of the economy and is now beginning to show disturbing signs of instability.

I guess that they’ll probably cut to save Wall Street from taking the market on another super-duper-looper ride, but either choice could have some bad implications for the economy. Check out this article over at CounterPunch that covers the current tumult from the broad perspective.

 

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