I know that I've said it before and I'm sure I'll say it again, but I'm worried about the Fed's latest rate cuts.
In a nutshell, it takes several months to see the results of the last cuts, more time than what has elapsed. I'm really afraid that they cut too much, too quickly and that they are going to start hiking rates in another couple months because of their quick trigger finger.
Add in the issues with Bear Stearns and the new foreclosure bail-out talk and I think we are going to be up to our elbows in a mess.
We (the US collectively) has less money to spend on necessities because we are paying a king's ransom for gasoline, but the oil companies are showing record profits. Where is our government now?
Indiana just passed a property tax relief bill that is supposed to help homeowners and investors by placing caps on how much they will have to pay. It is financed by a 1% increase in sales tax starting April 1. Too bad the property tax relief doesn't start for 2 more years. And let's not forget Lake County who won't pass a 1% county income tax, so they get "punished" by not having caps placed on the property taxes. If this state was a business, either the board would have been fired by now or they would have filed for bankruptcy.
Just amazing! Anyone have any bright ideas??????
Scott
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