Tuesday, March 18, 2008
Dow Ups 420.41
In response to Fed's 75-point rate cut, the Dow is having yet another Viagra moment, closing the day up 420.41. In the short-term this is definitely good news, but in the longer term is it going to work? I am no pundit in rescuing the economy. Basically, the US financial system collapsed in 2007 and we just found out in early 2008 and experiencing the pain now. Is the rate cut, like Bloomberg had said earlier to Bush's tax credit, akin to giving a drink to an alcoholic? The answer is yes I am afraid.
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