THE NOTION THAT YOU HAVE TO RE-START THE ASSET BUBBLE BEFORE YOU CAN RE-START THE CONSUMER IS THE FALLACY...
THE RATE CUT TODAY WILL DEVASTATE CD's AND SAVERS...BUT SAVERS WILL NOT GO BACK INTO ASSET SPECULATION UNDER ANY CIRCUMSTANCES...
THE FED JUST REMOVED MASSIVE AMOUNTS OF MONEY FROM THE BANK ACCOUNTS AND CD's OF AMERICAN SAVERS!
STILL, THE SUB-PRIMES AND ASSET SPECULATORS ARE AWOL FOR THE DURATION OF THIS DEPRESSION...
THEY MIGHT AS WELL GO TO ZERO...AND HOPE FOR A CARRY TRADE IN THE DOLLAR!
