Public policy, social issues, gender politics, religion, civitas, and other taboo topics fall under the hammer of Shava's iconoclasmic force of natural philosophy.
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Buddy can you spare...
Saturday, March 08, 2003
12:31 AM
The Guardian is speculating that the federal funds rate may be taken down to one percent in the light of our recent miserable employment numbers here in the states. And that number seemed so dramatic, so I decided to dig a bit.
The Federal Reserve Board only has historical numbers for the federal funds and prime rates going back to the middle fifties, which I find questionable. But it's been since the middle 50's that either rate has been so low.
This isn't looking like the time back in the 70's when those numbers were high, even in the midst of recession. Perhaps I'm looking at the wrong trend.
The last time the prime rate passed 4.25 on the way down was in 1929. Wonder why I have to go to some random page at the FRB in St. Louis to go that far back?
I'm feeling down along with the economy. Maybe singing a bit of white blues will make me feel better...
They used to tell me I was building a dream
And so I followed the mob.
When there was a dot to com or chips to make,
I was always there right on the job.
They used to tell me I was building a dream
With peace and glory and tech.
Why should I be standing in line
Just waiting for a check?
Once I built out fiber, made my mark,
Paid my payroll on time.
Once I built out fiber, now it's dark.
Brother, can you spare a dime?
Once we had two towers up to the sun,
Steel and glass in its prime.
Once we built two towers, now they're gone.
Brother, can you spare a dime?
Soon in khaki suits, gee we'll look swell,
Full of that Yankee-Doodly-dumb.
Ninety-five billion bucks shot to hell,
And I was the kid with the drum.
Say, don't you remember, they called me "Al"
It was "Al" all the time.
Why don't you remember, I'm your pal?
Say buddy, can you spare a dime?
Or, maybe not..
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