Friday, October 03, 2008

Another Wait

Today we will wait for another vote on the (gift package) bailout of Wall Street. Yesterday, Warren Buffett called it an "economic Pearl Harbor." Today, the French Prime Minister said the world is "on edge of abyss."

You have to love the French. Always more beautiful in their language.

I don't see the far left or the far right, an odd team in this debate, thinking a few tax cut perks are enough to vote for this. God knows what kind of pork spending is being bandied about in those halls to twist arms. I think I fear more those promises than the actual bill.

We shall see.

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Blogger Sue J said...

So they just approved the bill.

Now what?

2:24 PM  
Anonymous Morgan said...

The market drops of course.

2:53 PM  
Blogger Sue J said...

From Reuters:
"Financial stocks, which had traded sharply higher on the promise the bill would be passed, fell after the House vote on profit-taking and as the market focused on the tough road that still lies ahead for the U.S. economy."

WTF? They went up on the promise but when the bill actually passed, they fell?

What kind of dysfunctional relationship is this?!!

3:15 PM  
Anonymous Morgan said...

Oh, come on've never been in a yo-yo relationship? Damned if you do, damned if you don't.

4:11 PM  
Blogger Sue J said...

well, yeah, and we ARE getting screwed, so ....

6:01 PM  
Blogger Rev. Bob said...

Hi, Sue,

We still may be screwed, but the Wall Street rule has always been "buy on the rumor, sell on the news."

9:31 PM  
Blogger Sara said...

California was looking for 7 Billion, and the jobless rate jumped and even though everyone talks about a 700 billion package, it starts at 250billion and then requires another round with congress.

the reality? this may soften the blow but we are in a recession and mostly likely will go through a depression.

the dollar will continue to lose value. can't just print print print. gotta hve soemthing behind it and we don't.

companies still, on the average, cost too much to buy.

and we're still pouring money into Iraq. what really ails this economy has not been fixed.

for my anonymous friend who likes to keep me in check- that's soley my personal, layman's opinion.

before finishing an entire cup of coffee.

8:12 AM  

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