I don't think these numbers include reaction to the drastic rate change.  The Feds are doing their best to stem this albiet they admit there is financial hurt in the US economy they will have to monitor closely moving forward.  This interest cut...and more importantly the degree of cut...will provide consolation to the US investment community that the Feds are willing to move on things...but at the same time..the population has to learn to budget themselves better..which is something, especially in this day and age,  I see as being a pipe dream.  I'm afraid they may stem this bloodlet just to have it hit again in another year or two's time.  Either way the banks have to be more responsible with how they hand out their money.  They are the biggest culprits contributing to this economic problem.  Their greed has been fed simply by the desire and greed of the everyday person who can't afford to live above their means.

Look around...spas on every corner charging 200, 300, 600 per day.  The rich go there...now their overwhelmed by those who just want to pamper themselves at a cost well above their ability to sustain.  Spas have taken the place..sorry my mistake...spas have moved into close competition with shopping sprees for the fairer sex.  Sorry but this is only meant to be an example of the price people will pay for pampering (not a necessity of life as I've ever seen it but the sales pitch sure makes it seem like it is).

Lets face it ... we all like to pamper ourselves in our own way..ladies like to do themselves up and guys like to do their houses and cars up...(stereotyping I know but somewhat true we must admit).  Fiscal responsibility has gone out the window.  Living on credit and dying on credit.  We are becoming cashless which is a big part of the problem.  When the cash leaves your hands you feel the pain..but just handing that card over..no pain unless you really do have guilt when you spend.

The Feds have to teach the public fiscal responsibility and they need to regulate the levels of lending the banks can adhere to.  This does unfortunately lead to another problem...."1984".   We can't let the government take control of our lives but when it comes to economic survival the people have got to know their limits and for many a hard lesson is what is needed.  Nuf said.  Good luck today everyone.

MM