Wherein the Economic State of the US Makes Me Sound Like Scooby Doo
NEW YORK (CNNMoney.com) — The U.S. dollar fell sharply against major currencies Tuesday after the Federal Reserve announced its decision to cut interest rates.
The central bank said it will establish a target range for its key rate of between 0% and 0.25%. The Fed also said it will establish a discount rate of 0.5%.
In addition to the interest rate policy changes, the Fed also signaled that it will continue to explore more unconventional ways to boost economic activity…
In addition to aggressive rate cuts, the government has been forced to essentially print more money to help pay for several new initiatives aimed at aiding the weak economy. Flooding the economy with cash has helped ease the credit crunch, but it has also worked to undermine the dollar’s strength.
The United States of America is bankrupt. Don’t believe it? Consider this: Federal obligations now exceed the collective net worth of all Americans, according to the New York-based Peter G. Peterson Foundation. Washington politicians and bureaucrats have essentially mortgaged everything We the People own so they can keep spending our tax dollars like there’s no tomorrow.
Other Posts of Interest:
- Hey Congress? Stop Helping.
- So Where’s that Recession Again?
- Senators, Please Think! Kill the Big Three Bailout Bill.
Category: The Economy and Your Money
