berney has got a good balance and this has a lot to do with his/feds talk in reaction to what is happening.
under the surface tho rates are bringing housing under control which will ultimately lead to slower spending. less remortgaging for paying off credit debt is just one facet. slower housing means slower everything. after all the economy is all about what we all spend. if we have less wealth effect in our homes and more to pay on our home loans then just about everything follows ... down.
fwiw where housing goes the economy follows.
all countries are in this same position now.
only expect a .5% base rise at any time should any numbers be very frightening. so far i do not see anything like this out front. steady .25 rises and nice comforting talk inbetween is what i expect will happen. todays moves will imo get punished tho. the mkts moved up too much considering where we are in time.
i'll be surprised if the dow is not off 3 figures friday
i'm gettin a bit tired now so its off to bed.
be good.
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