Tuesday, August 08, 2006

The Fed

The Chairman of the Federal Reserve Board (now Ben Barnanke) is supposed to be the second-most most important man in Washington. (After the Prez.)

A pause in interest rates --- which is how the Fed voted today --- is supposed to boost markets. But it drifted lower.

Anyone who knows how the market works and doesn't is invited explain it to me. I doubt that I'd believe it.

All I believe is: "Never sell America short." It's worked --- with some horrific crashes in between --- for about 230 years.

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