Prime lending rate gets cut again!

[Whitmore]

Bloomberg TV had it on today,Alan Greenspan and the Federal Reserve policy makers reduced the benchmark U. S. interest rate to 1 percent, the lowest since Dwight Eisenhower was president 45 years ago, in an effort to boost the economy and ward off deflation. The rate was 1. 25% and the Fed cut it . 25% down to 1. 0%



I dont know about you but I traded all my company stock over to mutuial funds when it hit 1. 25% and between the sell and buy my portfolio is up 38% in less than a year, I got in to mutuial funds when the DOW was at 8400. Dow is now 9011 today. I plan on being patient and doing better yet, I think there is plenty of room for growth and I also think that we are in prime condition to do so because most of the weak have died off or been bought out and all that is left is the survivors now... ... ... ... ... ... ..... JMO



Cheers, Kevin

 

[Doc Tinker]

My brother brought up an interesting observation, the other day. He thinks the World Trade Agreement will affect us for a long time. He believes the agreement is supposed to ensure that the rest of the world will come up to the standard of living that the United States enjoys, which really means the the US will end up with a lower standard of living. He says that our economy will not revive for a long time, if ever. He told me that his investment counseller suggested that he was full of crap.



Doc