Asia Getting Fed Up With Bernanke's Rate Cuts

[bingobongo]

soon the global house of debt will come tumbling down......

Asia Getting Fed Up With Bernanke's Rate Cuts

Officials in Indonesia, the Philippines and Thailand may raise interest rates as higher oil and commodity prices feed into inflation, say economists such as Beng Ong at JPMorgan Chase & Co. in Singapore.

http://www.bloomberg.com/apps/news?pid=206...id=acrUvNUAIYX4

Edited May 5, 2008 by bingobongo

[stumonster]

I do wonder if there is some kind of brinkmanship happening here in an attempt to have the remimbi floated

[Lost in LOS]

I am tired of the rate cuts also as it is cutting into my income. lower interest rates = less income. of course the US still taxes me 18% of that even though I dont live there

Edited May 5, 2008 by jimmys

[LaoPo]

Excerpt:

"The trouble is, low rates are treating the symptoms of the U.S.'s problems, not the underlying sickness.

What ails the U.S. is too much consumption, too much debt, too little household savings and a financial system that's more vulnerable than once thought. Fixing these imbalances will require strong action from lawmakers and economic officials -- not more liquidity.

Japan squandered a decade believing low rates would restore its economy to greatness. The longer it takes the U.S. to heed those lessons, the more Asia may pay the price."

I wrote before that aspirines (rate cuts) don't cure the cause of the sickness.

LaoPo

[digitele]

I do wonder if there is some kind of brinkmanship happening here in an attempt to have the remimbi floated

Good point. I would not discount that theory.

The Fed is not the federal government, Just Bankers bailing out themselves, with the US taxpayer's money.

Then, the Chinese are holding all those US T-Bills. If their currency is floated, who wins?

I think the worst has yet to come. The entire US banking structure is a house of cards.