I am an INDEPENDENT Certified Financial Analyst (OeVFA, EFFAS) who worked as a financial journalist for 15+ years and now evaluate global market trends. Analyzing financial and political news permanently I want to share my insight with those who understand that we approach an era of global redistribution of wealth. The US-European centric approach will not work much longer. Five billion people in the developing countries will demand their fair share of the world's resources.
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FOMC Says Data Has Limited Value
Posted on October 09, 2007
It appears that Jim Cramers infamous outburst on TV has led the Federal Reserve into a panic action at its latest Federal Open Market Committee (FOMC) meeting. According to the FOMC minutes published on Tuesday policymakers brushed away economic data and preferred to give markets a shot in the arm with its 50bp cut of the Fed Funds rate to 4.75%.Here comes the lengthy explanation from the FOMC that tries to justify a rate cut I still consider most inappropriate in a time when surging commodities prices show that even a downturn in the USA will be offset by continuing strong demand from the eco...
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