Think of Nicole and I like the canaries that miners used to bring into mines. When the canaries started to have problems, the miners knew something was wrong.
We feel the hurt of the US economy’s problems first through our exchange on the dollar, but that doesn’t mean everyone else won’t be feeling it soon after.
According to Morgan Stanley — financial analysts much smarter than me, “consumers face what could be a perfect storm” in the wake of the mortgage crisis, and the Fed is considering yet another cut in rates — for the third time in recent memory, to try to rescue our financial infrastructure.
A rather inflammatory, but thought-provoking discussion on the current plans to bail people out, can be found here.