Today's Interest Rate Cut

On abcnews.com I read an interesting money article written by Scott Mayerwoitz, of ABC news business unit, regarding Bernanke and the good old interest rate. Guess what it is?

Bernanke and the Feds have cut the interest rate again today, by 3/4 of a percentage point. Yep, they did! This supposedly the five time since August 2007 that they have done this while trying to repair the broken USA economy.
According to the money news, the last time the Interest rate was this low way in February 2005 when Greenspan and the Feds cut the rate trying to correct the recession at that time. Strange that Bush even admitted in a speech on 2004 that we were in a recession during his speech. However since that time no one in the Bush administration, including Bush, will utter the word recession since.

Scott Mayerwoitz goes on in his article reporting on what the Fed said in a statement: "Recent information indicates that the outlook for economic activity has weakened further. Growth in consumer spending has slowed and labor markets have softened. Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters."

With the way the Dow has gone up today because of the move by the Feds, it appears as it Wall Street might be healing. But then this is the sort of thing that has been going on back and forth, up and down like a RollerCoaster Ride since Bush and the Republicans began their Government Financial Incentives for Businesses to send American jobs overseas, calling it OutSourcing. Infact, if people would take the time to thoroughly investigate the Nixon and Ford Administrations from Nixon's trip to China to the changes the Republicans made to the USA Foreign Trade Agreement they would have seen a pattern of slowly sending American jobs to other countries that eventually destroyed economy.

What troubles me is that even Lou Dobbs does not credit the Nixon and Ford Administrations for destroying the economy of the 70s. Nope! Just like all the other present and past Republicans, Lou Dobbs blames Jimmy Carter who actually inherited it.

Well here we are in the first quarter of the year 2008. Out economy has been going down hill since Bush took office and began his OutSourcing of American jobs to Foreign countries to Foreign workers and NO ONE sees the pattern.

What pattern am I talking about? Why do I keep connecting jobs with the economy? What could I possibly know that no one has even spoken about?

I am talking of the pattern, the connection of jobs with the economic rule: "FOR THE WORKING ECONOMY TO WORK, YOU HAVE TO HAVE THE PEOPLE IN THAT ECONOMY WORKING!"

Taking jobs away from American workers only destroys the American economy.