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March 18th, 2009
04:30 PM ET
Markets rally
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/03/13/art.stock.market.jpg]
Ali Velshi
CNN Chief Business Correspondent
Markets were up on news that the Fed will inject more than $1 TRILLION of money into the economy.
The idea that this extra money will reduce the cost of borrowing, and help home buyers and consumers generally, lifted the Dow up 14 percent higher than the low that it hit during this recession.
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Filed under: Ali Velshi • Wall St. |
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Once upon a time there was an economic crisis ! It ended !
I cannot get excited about this funny money being printed by the Feds, I was appalled by Obama's performance in Ca. tonight. He is most at home on the campaign trail and he is good at talking about and making big promises. His unread stimulus will be full of more horrible surprises like AIG bonuses which the administration ordered paid. He will impoverish America by punishing the most successful. Many of these layoffs are in anticipation of his policies that will cost business and industry and all of us when we are in the midst of great suffering now. He needs to get off this liberal ego trip right now and forget cap and trade , national health care and alternative energy until this country is stable again. Nothing he is doing is helping. Great rhetoric but he has never run or managed anything in his life and is in this job way over his head. The first 100 days have been a disaster. I cannot imagine a worse time to have and inexperienced, glib person in the White House. God help us.
...another emotionally-charged , daily result of moody Wall Street.
What's that, Feddy boy? Want to print more money? Sure, go ahead. Knock yourself out.
The funds that are not being borrowed from foreigners are literally coming from nowhere. They're used to purchase "assets" for the Fed balance sheet. The “liabilities” are the cash that’s injected into the banking system. The assets used to be for the most part Treasury bills, but are now seemingly everything but the kitchen sink. The return on those assets is the interest we pay for the use of our own money.
14 percent over the low, huh? That's a truckload of wealth creation! Like magic, itz.
You know, if we in education ran our business like wall st runs theirs, the teachers would all be millionaires and the kids would be out on the streets.
Let me see if I have this straight: we cut interest rates to artificially inflate a nation only to crash and burn.
The Federal Reserve now pumps $1 trillion into the economy and the stock market gets artificially inflated only to eventually crash and burn.
Earth to leadership: how about spending money making things that people around the world actually want to buy.
Once we do that, we will no longer have use for the smoke and mirrors.
I hope the DOW continues its upward climb; maybe if it does people will feel more like spending some money.