Fed Rate Cut Extends Lifeline to Deadbeat Borrowersposted by MR WAVETHEORY at 9/18/2007 12:15:00 PM
1) Credit card borrowers get a lower rate. Hurray for more 0% credit card offers.
2) Home flippers get their ARMs lowered to a more affordable rate. Expect more home flipping!
3) Housing bubble gets reinflated. Expect home values to stay where they are!
4) Home owners who refinanced their floating rate loans to fixed rate loans get screwed again! ARMs are now all the rage again!
5) Subprime lenders get more time to unload and mark to model their worthless paper.
6) Stock market gets a 300 point boost! Expect more to come. We're coming up on elections!
7) Gold keeps going higher. What can you expect!? When you keep printing money, people run for the hills!
Uncork the champaign. Say hello to Ben Bernanke - the Web 2.0 version of Alan Greenspan. We will just inflate our way out of our problems.