Both Edwards and Giuliani dropped out of the US Prez stakes today. Edwards I would have like to have seen go the distance, but at least Democrats now have a choice between the future and the past. As for Giuliani ... good riddance.
The other news of note is that the Fed dropped interest rates another 50 basis points on top of the 75 drop last week. The rate banks charge each other is now 3%. The Fed clearly said their worry is not inflation but a recession. As well as it should be. And interest rates may fall even lower as Ben Bernacke tries to do what Alan Greenspan managed to do after 9/11 -- a so-called "soft landing." It won't be easy, though. America wouldn't be in this mess if they had some money in the bank rather than wasted in Iraq, borrowed from the thugs in Beijing.
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