just guessing on tonight .... but

... but I reckon Ben "B52" Bernanke is going to announce a Fed rate cut within the next 18 hours.

It has to be at least a full 1.0%. If it is less, the market will totally ignore his announcement because the players have already factored in at least a 0.5% cut, and probably even a 0.75% one.

On the other hand, it may be more than 1%, but that's another problem. If it is too big, the market will really get spooked about what the Fed 'must see' is ahead.

So, the Fed as a result of the deliberate actions of Greenspan ( knighted by the Queen of England Greenspan ) is caught between a rock and ... well, a rock.

Stuffed.

The Fed is discovering that the 'market' is so very much more powerful than themselves.

Have you ever listened to Leonard Cohen's song "The Future" ?

I'd give you the lyrics here - but there's enough depression to go around already.

Just my wild guess is all.

all the best to all of us.

dub