BREAKING NEWS: Fed Cuts Rate 50 Basis Points!

The Fed and other central banks around the world cut rates by 50 basis points, turning the S&P 500 futures index on a reverse of it slide.

How long will this rally last? About 15 minutes. The market is scared out of its mind right now.

Are we headed for a repeat of Japan’s economy for the last 17 years? Or will we come out of this smelling like a rose?

CNNMoney.com Pre-Market Report – Oct. 8, 2008

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