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Tuesday, September 18, 2007

Fed Gets It Right, Hawks Shut Up

The Fed just cut the fed funds rate by 50bp - Bravo! This was a must. Uncle Ben got it right. He finally got over the Helicopter Ben-complex and let it fly.

All the inflation hawks will be crying and are booking appearances on TV as we speak. Yeah food is up, yeah energy is up, gold too - but housing is crashing. How can the largest household asset plummet and people not even mention it in the inflation argument? The crash in housing will also lead to a drop in rents - a huge household expenditure for those that don't own. Worried about a little inflation? How about another depression you fools.

The fed got it right - period. Inflation hawks shut up.

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1 Comments:

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