large stakes sale
So, the Fed cut interest rates on Wednesday. Following the announcement, the
US dollar sank to a record low against the Euro while the futures market saw
gold rocket to a 27-year high.
On the same day, Treasury Secretary Henry Paulson told Congress that the government will hit its
debt ceiling on Oct. 1. He urges that we raise the current $8.965 trillion limit; the 5th hike since 2001. In case you aren't aware, your individual obligation to that total now stands at $29,739.
And if that wasn't enough, the government-controlled stock exchange in Dubai is making news as I write. They're
announcing a plan to purchase a 20 to 30 percent stake in Nasdaq. It will make the Middle East business center, soon to be home of
Halliburton, the largest single investor.
Someone may need to help me. - Isn't a falling dollar, inflation, rising national debt, an uncorrected
housing bubble, and foreign ownership of our stock exchange supposed to be a bad thing? If so, why is Wall Street so damn happy?
The following article doesn't explain everything, and by bringing this up I don't mean to imply that I do, but it looks like a good place to start. At a minimum, it names the winners and the losers in the latest Federal Reserve attempt to do, well, something.
- eFinance Directory