cue hearty laughter
save us, massah. give us da medicines.
In a dramatic change of tone, Ben Bernanke on Thursday indicated that the Federal Reserve is ready to cut interest rates aggressively to ward off the risk of a US recession, sending stocks soaring.The Fed chairman said “we stand ready to take substantive additional action as needed to support growth and to provide additional insurance against downside risks”.
now, big finish. big finish!
The Fed chairman did not discard the US central bank’s inflation concerns, warning that the renewed strength in oil prices was “lifting overall consumer prices and probably putting some upward pressure on core inflation measures as well”.He hinted that provided inflation expectations remained steady this would not get in the way of Fed easing, but said “we will be closely monitoring the inflation situation, in particular as regards inflation expectations”.
Mr Bernanke’s comments came as Robert Rubin, the former US Treasury Secretary, threw his weight behind plans for a fiscal stimulus to provide further support for the US economy, which a panel of experts he chaired suggested should be about $100bn.
January 10th, 2008 at 22:23
Bernanke: “This is madness!”
Bush Administration: “Madness? This… is… AMERICA!!”
Or, in the words of the great Howard Dean: “Byyyyyaaaaaaaaaaah!!”
The Downfall of the American Empire: A Drama
by Taylor
(background music) The Hamster Dance “Dee da dee da dee da do-do, dee da dee dee dooooooooh!”
The scene opens on a montage of images, including dollars being printed, American flags waving and American soldiers being blown up in foreign conflicts. The scene lasts 120 minutes and then ends promptly with the falling of a curtain.
text: THE END
January 11th, 2008 at 09:51
hamster dance. always kills.