Run For Your Lives!!

Are those Crazy Americans actually, genuinely crazy?


Before I just used that adjective as a term of endearment but they've gone and done it now.


To have to drop one quarter percentage point for the sake of the economy is unfortunate but to have to drop two is just careless. So what the heck are we meant to make of a truly shocking 3 1/4s of a percentage point drop in US interest rates?


Well, I'll tell you. Panic in the ranks of the US Stock Market, a similar drop in the UK rates and house prices taking off again. There's already talk of an emergency Bank of England meeting, presumably to follow suit and drop rates substantially.


Drastic times may well call for drastic action but the US Fed's knee-jerk reaction may very well kick the world economy out the window.


I said it before and I'll say it again. I'm glad I don't own any shares. There's going to be some absolute bargain shares out there in the next few weeks and months.


I'm not sure if pension-savers will see it that way...