Can the Fed raise rates?
Will the Fed cut rates? Probably another 25 bases points. Why you ask? Well, the banks are still in trouble. No doc loans are still being made. Credit Cards delinquency rising. Oil and food out of sight. Can the Central Bank called the Fed raise rates? Yes they can but they won't. The arms loans are still are being made so if the rate is raised then this mess comes back with a vengeance. Look for these prices for the next 5 years. Oil and the dollar are both high right now. Why? Beats me. Maybe the wall street people are still in denial. Do you think that the Central Bank will raise the lending rate and risk a torrent of foreclosures again? The Rate is forcing more foreclosures now as it is. I wonder how long it will take for the currency's traders realize that the dollar won't strengthen any time soon. Now for the good news. Min wage will go up in Nov. by a $1.00 to $6.85. Now if you lost your job on wall street you can always get a job in the service industry. I hear they need help and they pay a really good wage of $6.00 an hour and you know that you will see a pay raise in Nov. Now I know that it won't cover a gal of gas and a gal of milk, but it will cover one of them and if you go to the day old bakery you can have a loaf of bread. Remember to walk there to save gas money and to keep in shape. Oh yea Bac is thinking of pulling out of the Country Wide deal. Where is your money at? As the commercial says "Can you hear me now?" Get used to 6.00 a gal. because the dollar will tank and then they will introduce the Amero. as the new currency. Raise the Lending rate and oil will drop as well as food prices. Then the riots around the world will stop because they can then afford the food again. Save for Christmas it is going to be a lean one.