Just announced today(link below). Thinkin it will take a lil more to pull this one out than the "coming heat" as per our infamous leader says! Once we enter into the "negative interest" twilight zone..be no more bandages left. Let's hope we're not on our way but doesn't look promising as Dow fell/closed almost 800 points after announcement!!
After this only about 2 rounds left in clip. A large/politically motivated 50 basis point cut serves only to spook the market even further. At least to me....such recklessness really was no surprise. Just a continuation of Trump's erratic behavior/poor fiscal management as no major U.S. company has filed Chapter 11 more than Trump's empire under his management in the last 30 years. Same mentality/same person. Hopefully, America can survive a few more months of Trump's wreckless fiscal policy.
Our leader says "more more" cuts!! Of course he holds a 950 million mortgage on a Manhattan Office Tower, $567 million debt on San Francisco property plus sharing in $1.2 billion debt on other real estate ventures. Hey that's only $2.7 BILLION!! Likely all being interest floaters. Hey "I like debt" being "I'm The King of Debt"!! .......and we wonder why America's debt is increasing at alarming historical rates...huh??
They may as well take it to 0% and just keep it there. It was 0% or near that for eight years of the Obama presidency and now it looks like Trump is going to take his turn at 0% for the next few years. Can't help but wonder why these guys need 0% interest rates to keep this economy going. Couldn't be because the country is for all practical purposes insolvent due to our $22 trillion dollar national debt could it? These last three presidents have presided over outrageous deficit spending. The entire country is awash in debt and it just keeps getting worse. There will be a day of reckoning eventually, you can only burn a candle at both ends for so long.
There's a federal reserve board meeting on the 17th, they'll likely give it another cut then. Those viruses can't take interest rate cuts ya know.