News Buzz: Central Banks Cut Rates to Jolt Economy, Debate Aftermath
Interest rate reductions are praised, but the IMF warns the United States could slip into recession
Reader Comments
the economy
Federal Government
I feel that the federal government should help the people that want to help the people that want to be helped. The people that need the money to pay the bills, and the mortgage. People that may have been laid-off, or have had a terrible illness or injury that put them in debt from hospital bills.
Mostly people are laid-off because of debt, but in this case it is because the economy is so horrible. The on going war, and rising prices of oil, gas, which means transportation the price of grocery’s. Everything else’s prices are raising as a result of the uncertain economic times.
Another reason for Federal Government help is hospitalization. The hospital bills of the sick or injured people are outrageous, they are burning holes in peoples pockets. There is not much more that we can do, when you get sick the bills raise, and in most cases people loose thousands of dollars on medicine, and doctors. So once you spend all of that money on doctors, and etc..Where does the money come from that pays your light bills and mortgage. It doesn’t come from anywhere except possibly the government.
Car sales are going down the drain. One in ten people in our country are effected by the automobile industry. If the three major manufacturing companies: Ford, GMC, Chrysler were to go bankrupt the economy would really crash. We wouldn’t have hardly any money left.
Today I was CNN and they said that “The Federal Reserve joined today with five central banks around the world in an uncommonly concerted round of interest rate cuts meant to bolster confidence in the markets and improve access to credit. In explaining its half-point cut to 1.5 percent, the Fed pointed to recent turmoil in the markets and economic data that show a marked slowdown in recent months. "Moreover, the intensification of financial market turmoil is likely to exert additional restraint on spending, partly by further reducing the ability of household and businesses to obtain credit," the Fed said in its announcement.”
With the way the economy is going, everywhere is going to go bankrupt. The world of money will be destroyed if no one cleans this mess up!
