The fed lowered two key interest rates by 1/2 point. That lowering decision, pushed gold to a new high. As inflation picked up, the stock market tumbled (after the rate cut, the Dow went up over 200 points BUT closed down 37).

A senate panel cleared a broader stimulus measure than passed the house.

The reits (real estate investment trusts) were hot because of lower interest rates. Reits were strong in many areas (movie theaters, apartments, malls and housing.

S & P downgraded/negative rating action on over 8000 residential mortgage bonds and CDO's.

Have a great day.

That's all fine and good, but it was also announced that due to a shortage of a certain additive, gasoline production will slow down. This may drive the price to $3.50 per gallon in the very near future. The effect this will have on the average American will negate any stimulus package, which is too little too late anyway. The interest rate cut will only help the forunate few that still have their holmes, but will probably lose them after they refi and the rates go back up this summer.

And of course the credit card companies (a.k.a. loan sharks) will still be commiting usuary upon the American public. The $600 I will be getting from G.W. will probably be just enough to pay the bankruptcy lawyer.

If we want to improve the economic situation, we need to cap gasoline prices. The oil company profits are over inflated and they can afford it. Then we need to put the reins on the credit industry. Americans are drowning in debt, 30%-40% of which are fees and rediculous finance charges imposed upon their victims, I mean "customers".