Market says ... 75bps, please.

Looks like this morning's little stunt shaved 100 to 200 points off of the loss (the futures market is very thin this time of the morning).  YM was down 500 points this morning, now as I write we're only down between 300 and 400.  So if rate cuts are long term solutions, why are they done as knee jerk reactions to what the futures have done in one day?  I don't know about you, but this further shakes my confidence in the leadership.  I understand that the economy is a complicated engine with many moving parts, but with that said, should we really be knee jerking these massive rate cuts?

I also go back to my original statement of, wasn't it easy money that got us into this mess in the first place?  We're just killing our dollar.  Here's how the EUR/USD responded to this:

In addition to looking at evaluating more long term buys, I'll also be looking for a more stable currency to park my dollars in.  One that doesn't drop nearly a point overnight.