fed to cut rates tonight, page-26

HBG,

The point to all of this is it will be too late in 6-12 months time in the market's minds.To gain a rally for their friends such as Bear Sterns, JP Morgan etc they need to save them temporarily.

Plus when rates are back to 1% which is where they are going, no-one will be interested in borrowing even at such a low rate. The bullets left make no difference in 6-12 months as the recession will be a depression and stagflation will end up deflation by then.

What I am saying is they know where the road leads to but are hoping and praying by throwing everything they have it doesn't end up in that dark place. That dark place is what Japan have become used to.