What’s Next, Mr. Bernanke… Free Money?

The Federal Reserve surprised a lot of people today, including us, here at RoutingByRumor.
They announced another cut to the target federal funds rate, this time it was 50 basis points, or 1/2% (read the Fed’s announcement, here). That is on top of the 75 basis point or 3/4% emergency cut announced eight days ago. [...]

Bloomingdale’s Warehouse Fur Sale – Proof That Even Luxury Goods Retailers Are Hurting ?

You are more likely to find us at a PETA meeting than in the fur salon at Bloomingdale’s, and we usually don’t pay much attention to advertising for fur coats. Besides, who needs fur, when you already have, well… fur! (see our picktur). But with everyone’s preoccupation these days with the economy, and [...]

Stimulus, Schmimulus ! Why The U.S. Economic Stimulus Plan Won’t Have Much Effect

They are saying that the President’s economic stimulus package might be agreed upon today. Woo Hoo. Happy days are here again.
But wait a minute… I can still hear that “giant sucking sound”,  and it’s getting louder (oh, how I wish I could have found a clip on youtube of Ross Perot coining [...]

The Great Bernanke Pulls A Rabbit Out Of His Hat

What might have come to be known as Black Tuesday 2008 (yesterday) was averted at the last minute, when Ben Bernanke and Company delivered a 3/4% cut to the overnight bank rate. Tuesday’s rate cut was the largest one-day rate cut ever by the U.S. Federal Reserve Bank.
As any great magician will tell you, [...]

U.S. Stock Markets Plunge At Start Of Trading Today, January 22, 2008

Well, it looks like the market futures, the pundits, and of course, the financial gurus at Routing By Rumor (RBR) were right on the money, so to speak.
We are now a few minutes into the trading day, and the Dow Jones (DJIA) has lost more than 400 points within the first five minutes of trading!  [...]