Discussion in 'Economy' started by Truthmatters, Nov 30, 2011.
Stock futures surge as central banks join forces- MSN Money
world economy being stablized in a concerted effort by most countries and consumer confidence at new highs then there is the record breaking black friday sales and cyber monday sales.
This is getting good
Takes a knot out of my gut that's for sure.
ADP jobs number was very good.
Chicago PMI was very good.
Global central banks cut interest rates on swap lines.
It is a good day for the markets.
consumer confidence is up, auto sales up.
things are starting to look good
Mr. Market in manic mode. That's awesome
The Euro is saved, US Deficits disappear.
The markets are good because once again the American taxpayer takes on the risk...whoohoo...let's repeat the 1980's and 90's all over again...who cares if none of this is real?
A good, concise article on the mechanics of todays move by the central banks:
The attempt by major central banks to ease strains on Europe's credit markets certainly cheered financial markets on Wednesday, but what does the coordinated action actually do?
In essence, the US central bank, or Federal Reserve, agreed to provide cheaper dollar funding to the European Central Bank-which can then provide cheaper dollar loans to cash-strapped European banks.
The goal is to ease the credit crunch in Europe. Lots of European banks make dollar denominated loans, in part because US interest rates are so low. The banks do not usually finance these loans in the way you might think-by lending out the deposits of their retail customers. Instead, the loans are financed by short-term borrowings from other financial institutions.
Central Banks to the Rescue? What Today's Action Means - Yahoo! Finance
I was debating weather or not to add to a position and TM helped me decide.
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