Fed raises rates - Market jumps 155 points: What's wrong with this picture?

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And check this out

Home mortgages expected to rise from 6.9 to 8%

CD interest rates expected to rise from 4.05 to 4.1%

Why is it that banks must make more than 20 times more off this hike than its customers? No wonder they're having a profitable year.

"If [the U.S. stock market bubble bursts] before the rest of the world has recovered [from the Asian currency crisis/IMF extortion/depressed real economy], then you would have a worldwide depression similar to what happened in the 1930s." - George Soros, one of the most successful financiers in the world, on the PBS documentary Crash

The lack of an early stock market crash is one of the main reasons I am more pessimistic -- the higher it goes, the farther it will crash, and the closer it happens to Y2K the worse _both_ will be. - Infomagic

The market bouncing upward on the rate hike announcement is worth a full quarter point movement towards the pessimist's end of the scale. - Mr. Decker

-- a (a@a.a), June 30, 1999

Answers

We are going to have to do some etching, we will need to put this on stone tablets in order for some people to get what this means...

-- BiGG (supersite@acronet.net), June 30, 1999.

a,

The stock and bond markets' reaction was not so much to the quarter point raise, but to the accompanying commentary that indicated that the Fed "bias" has changed from possible tightening to "neutral".

Jerry

-- Jerry B (skeptic76@erols.com), June 30, 1999.


a:

I think this Federal Reserve decision may be the new basis for the final bull run. Now that the rate has been settled after weeks of speculation and won't be changed soon, I expect the stock market to top 12,000 before the plummet.

What are your speculations?

I read NEWSWEEK's cover story "THE WHINE OF '99 : EVERYONE'S GETTING RICH BUT ME!" and was alarmed at the greed permeating the entire article. Y2K was ignored as if it's irrelevant. The main theme of the story was INVEST NOW & GET WEALTHY!

The biggest stock market crash of all time is approaching...

-- Randolph (dinosaur@williams-net.com), June 30, 1999.


Wow,

Between Russia and this I need some Maalox! Two hits in one night, and on the day of the deadline....this is alittle too much !!!!

-- Moore Dinty moore (not@thistime.com), June 30, 1999.


Randolph: I dunno, 12000 maybe. Its amazing though. Very surrealistic. I bet those that knew the score in '29 felt rather odd about their knowledge also. Did you see Crash? If not, check out the PBS website.

-- a (a@a.a), June 30, 1999.


The bigger they come, the harder they fall. These idiots have so much confidence in worthless stocks that they are sending our economy towards a cliff that is going to make the Great Depression look like a walk in the park. All in the name of greed.

-- @ (@@@.@), June 30, 1999.

a:

I don't watch any television, so I'll check out the PBS web site.

-- Randolph (dinosaur@williams-net.com), June 30, 1999.


a:

Amazing data at www.pbs.org/

I've been talking to some coworkers about the stock market crash scenario, and they are quite uneasy about this topic. They don't want to lose their hard earned investments, yet they are STILL NOT PREPARING for WTSHTF.

They can't blame me for not warning them, but they'll blame me for something else...

-- Randolph (dinosaur@williams-net.com), July 01, 1999.


Get rich or get out.

-- Spidey (iln@jam.commie), July 01, 1999.

The markets hate uncertainty. There is a saying I think..."sell on the rumor, buy on the fact". In the period up until the FED announcement (or when analysts became reasonably certain about the FED move), the markets were headed down. When the "street" felt sure that the FED would raise 25 basis points, the markets started going up. My take anyway. Besides...until we start thinking about the stock market as a speculative investment instead of a savings account for the common man, markets are bound to go upward. Y2K will change that I think.

-- jeff (jdevore@prodigy.net), July 01, 1999.


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