Wednesday, October 31, 2007
fed cuts another 25bps
the fed notes that the economy is likely to slow thanks to intensifying pressures from housing. it should also be noted that durable goods orders are in decline and that third-quarter profits are looking to have fallen year-over-year for the first time since the last recession.
UPDATE: the stock market, of course, after a stagger, has rallied like it was the end of the second world war, the first world war and the napoleonic wars all at once -- with jesus christ himself returning to earth to boot. i obviously can make absolutely no sense of it, but it reeks powerfully.
I'm telling you, gm, Marquis kicks Gibby's ass, makes Seaver look like a pussy and turns Marichal into his bitch. then he goes out and buys financials. perrone
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