This recession scare, it’s real. Too real! The Federal Reserve, much to Ron Paul’s dismay, lowered the fed funds rate by 3/4 of a percentage point today to stave off a, hrm, bank panic of neo-Victorian proportion!
Keep in mind that these old grandfolk usually stew their heads for eons before announcing that even a 1/4-point change is taking place. Now they apparently don’t give a flying fuck, so it’s free money. Also, all yr stocks probably crashed, because the move showed that the moneyhandlers know a recession is coming. But Ronald Reagan told us that only our neighbor loses his or her job during a recession, so haha! Sucks to be my neighbor. [AP/Yahoo]