Snow stuns market by tipping higher interest rates

[Spazito]

WASHINGTON - US Treasury Secretary John Snow stunned global financial markets by predicting in an interview published that interest rates will rise.

The comment to London's The Times newspaper broke a taboo on treasury secretaries speaking about interest rates, a zone usually restricted to Federal Reserve (news - web sites) policymakers.

snip

Snow's comment was correct but unwise, most economists said.

snip

Moody's Investors Service chief US economist John Lonski said Snow's comments were unexpected.

more

http://story.news.yahoo.com/news?tmpl=story&cid=1521&e=2&u=/afp/forex_us_snow

[Sagan]

1. correct, but unwise?

"Snow's comment was correct but unwise, most economists said."


I forgot how telling the truth is a BAD thing in the misAdministration.

Welcome to the reich-wing's lying America.

[UpInArms]

20. well, here's an article where he goes back to lying

http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20031020-001203-1525

Higher consumer income and spending, a strong housing market and improved business spending, coupled with low inflation and low interest rates "all show we are heading in the right direction of an accelerating recovery," said Treasury Secretary John Snow. He added, "As the economy grows, government revenues will go up, which will help keep the deficit under control."

so I wouldn't believe that the truth would win out in this man's mouth

[hatrack]

2. Yes, God forbid we should say anything true

Can't spook the horses, now can we?

[htuttle]

7. Frau Blucher!

:evilgrin:

[yella_dawg]

16. Crap!

I've got a cold today, and I laughed until it set off a coughing fit. Three times. God, that was good.

[htuttle]

23. Interest rates!

http://piratevideo.tv/Real/blucher.rm

[tom_paine]

11. You mean the sheep, don't you?

I don't think even the horse is a sufficiently docile and stupid animal to compare it to the Imperial Subjects of Amerika.

Perhaps the "cow" because they are too stupid to know not to shit in the creek.

[Jacobin]

3. With deficits at historic highs

anyone in the financial markets who doesn't expect interest rates to rise and go through the roof should look for another occupation.

[Don_G]

9. Very True

Business now has to compete with the Federal Government for the available money that can be "loaned." When that happens, costs on everything will go up as will state and local taxes and "fees" disgusied as a non-tax.

The only question is where and how.

[nadinbrzezinski]

4. hmm sliding exchange rates for the US Dollar

not fun

[Commie Pinko Dirtbag]

5. Please enlighten this economics layman

Everybody seems to rave about how devaluing your currency is good (cheap exports). But I can't shake the feeling this can not be good in the long run. I mean, the money you have in your pocket is suddenly worth LESS!

[leftyandproud]

12. physical gold and SILVER...

are always smart when we have morons in charge...

[radfringe]

15. the dollar

yes devaluing of the dollar means cheaper exports - which means US goods will be cheaper overseas and thereby creating a demand

HOWEVER, since many of our manufacturing plants are now located overseas the cheaper "exports" won't have as large of an impact as it is being touted

The flipside of the devalued dollar is that IMPORTS will be more expensive - and since we import more than we export - the US consumer will be paying more for goods which means even less "disposable income" will be available to 'stimulate the economy'

As noise of this starts making the front page of the papers - and the whistleass's numbers drop, I would expect that the whistleass will start pushing for another taxcut for the fat cats

[twilight]

17. invest in gold or euros

that's the way to go ... I believe anyway. I bought some gold awhile back and its done well in a fairly short time. You might also want to look into buying international bond funds and Euros.

However, GOLD RULES!!!!!

:dem: :kick:

[juajen]

19. twilight, do you mind if I ask you

where your preferred place is to buy gold. I see offers all the time, but am not sure of their legitimacy.

[twilight]

22. hi juajen

check you inbox for details ... :)

:dem:

[Samantha]

28. I am interested as well

any chance you could shoot me the details as well?

[Fridays Child]

6. Hey, you know these grown-ups who are in charge, now?

They sure don't know when to keep their mouths shut, do they? "Bring 'em on," the CIA leak, now this. And, when they should be talking, they shout "executive privilege" and then clam up.

Oh how I long for the days when the Clinton kids were in charge.

[RainDog]

8. the issue is

Snow, or anyone from the White House is not supposed to say stuff like this before the Fed makes its decisions.

the idea is that the Fed is not supposed to be pressured by particular politicians.

of course, the Bush administration givcs a rats ass about anything of this sort, obviously, when he is willing to let a member of his administration out a CIA operative without any sort of consequence.

the weak dollar will not do much for the middle class. nor will rising interest rates.

[Beetwasher]

10. Put this in perspective of the the article regarding the

drop in 6 of the 10 leading economic indicators...

[Dr Satan]

13. I think this was planned

they intentionally "stunned global financial markets."
Its a script and the puppets are doing what the strings tell them to do.

[truthisfreedom]

21. well, that would be giving them a lot of credit for being able to plan

anything. so far all i've seen them do is attack and react.

[Nottingham]

14. I think they did this cause Savers in America are ticked

Low Interest rates have been killing older people living on the Interest of their money

:bounce:

[twilight]

18. your right Nottingham ...

Nottingham, do you remember a message I sent you a long time ago? That place just raised rates last week ... that's cause they know ya know?

:dem: :kick:

[Nottingham]

24. Twilight I saw that! YEP

:bounce: Our economy is so screwed! Thanks top Bush!

[Ugnmoose]

25. This is just the tip of the iceberg

The Bushistas know damn well that The Chinese and Japanese can no longer prop up the dollar and that it is due for a big slide, especially once our Asian partners start actively hedging against devaluation. Once the slide hits interest rates will start to rise, perhaps dramatically. Then we get the double whammy - inflation and unemployment.

[Spazito]

26. Exactly, and the Chinese and Japanese told Bush that very clearly...

China and Japan reject Bush's currency pleas

http://story.news.yahoo.com/news?tmpl=story&cid=676&ncid=716&e=22&u=/usatoday/20031020/ts_usatoday/11910971

[Beetwasher]

27. If Bush is Begging for Help From China

Things must be going horribly wrong indeed...That's not a pretty thought...

[Junkdrawer]

30. Rising interest rates will deflate the air out of the Stock Market...

there are too many retirement dollars in the Stock Market because interest rates are so low.

[kodi]

29. nice stock tip mr snow. carry on good fellow. dont forget your class

somebody, somewhere made a bundle of money from this and i would like to know who.