tag:blogger.com,1999:blog-8034970.post3512135327558340789..comments2023-12-25T16:51:01.726-08:00Comments on Cromely's World: Panic at the FedCromelyhttp://www.blogger.com/profile/02220177112637075263noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8034970.post-36383499877477563042008-01-24T07:43:00.000-08:002008-01-24T07:43:00.000-08:00I think the last statement there in your article w...I think the last statement there in your article was the key. I have always believed that the people in the leadership position in this country are there because they have the ability and, deep down inside, the desire to do whats best for the country. A lot of people laugh at that notion, but think of this.<BR/><BR/>What you just presented was a good side and a bad side to this cut. Some people will use it to open new lines of credit they neither need nor deserve. Others will be financially responsible and use it to their best long term advantage.<BR/><BR/>I would disagree that the easy availability of credit is what has lead to this. While it has been available, no mortgage ever pulled a gun and forced someone to sign it. Yet we hear this line of easy availability every day, because it's easier for a politician to say that than to come out and say the truth. And what is the truth?<BR/><BR/>This recession is caused by the financial irresponsibility of the American people. What the Fed has done is given us a tool we can use to fix that, or the rope we could use to hang ourselves. Which choice we will make is entirely up to us. <BR/><BR/>Is it panic? Perhaps. Could it help? For sure. Will it? We'll see.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8034970.post-77267211053744661492008-01-23T19:24:00.000-08:002008-01-23T19:24:00.000-08:00I think it was a panic mode, feel good decision to...I think it was a panic mode, feel good decision to lower the rate. Too many people are over extended on credit as it is. I expect a rocky year ahead. (I'm in sales and have noticed quite a drop off in sales in the last 3 - 6 months.)miksterhttps://www.blogger.com/profile/01014935306811504401noreply@blogger.com