And the hits just keep coming
US dollar strong (BTW, BRL making new lows) which in a vacuum you'd think shouldn't happen following a rate cut to 0.
Problem is overseas USD funding- in the GFC the US was busier than a one armed paper hanger but one action was to set up unlimited USD swap lines to keep the dollar from getting even stronger and keep from strangling foreign firms with USD denominated debt.
Say what you will, I'd feel a lot better if Paulson, Geithner, Bernanke were in charge. Can't mention them without the real stars of the show- Sheila Bair, Mary Shapiro, Elizabeth Warren.
Re: And the hits just keep coming
Who, BTW, and leaving faux Tea Party idiocracy outrage aside, slapped the wheels back on the wrecked jalopy and gave farmers about 7 more very good years.