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Options Trader: Which Way Wednesday, Fed Edition
Posted on June 25, 2008
How badly did the Fed blow it? The purpose of easing rates was, ostensibly, to prevent a slowdown of the US economy. The effect of easing rates was to devalue the dollar and fuel a speculative bubble in commodities that has taken what few spare dollars consumers had left and literally burned them as fuel costs have jumped over 100% since they began cutting rates last year, costing American consumers $1,470,000,000 PER DAY in additional fuel prices and a similar increase in food prices for a whopping $547Bn a year tax on consumers to support a bail-out of the financials....
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