Down a quarter point yesterday. Ben Bernanke and the Fed are hurting us, long term, more than they are helping. At least it wasn't the full half basis point the market was asking for. A weak dollar is going to hurt us more than any increase in exports will help. That's in my opinion.
So as the Fed continues to save the markets and as the President and Congress bailout the lenders and foolish homeowners, I have to wonder about the other side of the coin. HERE's a great article by the great Todd Harrison over at Minyanville. It's my recommended read.
-----Sincerely, Trevor Stasik.
UPDATE 9:58: Here's another excellent read from over the weekend by wonderfully dour Bill Fleckenstein. He has a very good analysis of the economy in its current state.
Bernanke, Quarter Point, Bailout, Weak Dollar