America is Back!
The Fed cut the federal funds rate by half a percentage point today, which we're told is supposed to encourage lending. Blown Mortgage described the market's reaction as "meh," though it looks more like "Whee! Splat." Meanwhile Manhattan hotel building has slowed, so we're not going to have much outside help pulling the local economy out of its tailspin. Quick, to the dollar store -- and if you get a good rate on a dollar, please let us know immediately.