The rosy talk at MSNBC about a bounce back must be balanced against ...

the likelihood that other world markets will continue to decline further.

So tomorrow we could be sitting here saying look at the huge Fed rate cuts, and we are headed down further.

At some point, the Fed 'runs out of bullets', and it has nothing left to influence the US Markets.

But for consumers, this truth cannot be hidden ..... the FEd moves have been about propping up banks and financial industry behemoths, not about providing consumers with real assistance.

A major problem is the AMerican consumer is on life support, and the housing market downturn and consumer credit crunch have yet to be addressed.

And, this is the last big interest rate cut they have....

It won't do much for the average American other then drive inflation UP UP UP.

The chickens are coming home to roost.

A temporary recovery from a prolonged decline or bear market, after which the market continues to fall.

You are holding dollars, and the dollar is further devalued.
You are holding interest rate sensitive financial obligations, and the interest paid on those obligations JUST WENT DOWN with dropping interest rates in the US.
You have a vault full of US debt, and the overall value of that debt is dropping -- so you would not be inclined to buy further US debt. THere are better deals outside the US.

I just don't see the Asian Markets viewing these moves by the Fed as positive for them, and they already dropped a huge amount before the US Markets opened.

They are not going to be reassured just because the US Market does not drop as much percentage-wise as their own markets already dropped.

The American citizen should be resurrected.

slow growth = stagflation. We are in a mess and the Bushites don't have a clue what to do.