From what I've read, we have quite a ways to go with sub-prime rates re-setting - over 2 million more mortgages due in 2008. This is expected to continue to dragging down industries dependent on the housing market. As for the Fed further dropping rates - sounds like they're too late to really salvage the economy. Now the hope seems to be on foreign countries infusing some cash into our financial system. As long as money is tight lenders are going to be very cautious and stingy.

Keep those belts tight!

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Eric Barker
Moraine Woods Consulting, Inc.
Barrington, IL