mavericks

It's Ugly Out There. What's Washington Waiting For?

Bernanke is so far behind the curve, I'm not sure rate cuts at this point will do any good. I lost confidence in him last week when he was still talking about slow growth going forward. If he couldn't see that domestic spending and investment is quickly grinding to a crawl, then he needs to lift his head up from those backward looking reports. Now the intl. markets are going to follow suit which will kick out the last leg of support. He plays a dangerous game.