Tuesday, September 30, 2008

Waiting for the other shoe to drop

So, the bailout was voted down, yet it's hardly a victory. The Dow dropped 777 points on Monday, losing 3 billion dollars a minute, one point two trillion dollars in 6 hours. Think your 401k plan was spared? John McCain's jedi mind trick notwithstanding--taking leadership credit for the bailout deal not just prematurely but delusionally (most Republicans, including ALL of Arizona and Alaska delegations voted NO, btw), then blaming Obama for injecting partisanship when he learned there was no deal, was not the only bafflement of the day. Having voted then exhausted themselves pointing blaming fingers, the House members left for the Rosh Hashana holiday, Jews and non Jews alike. No one seems to have a clue what to do; New Zealand and Ireland are said to be on the brink of recession as international markets emerge from denial. Dubya's slated to give another deer in the headlights speech at 8:45 Tuesday morning; wonder if he's shutting down the government because it can't make payroll?

1 comment:

Dan Brantley said...

The Dow gained back almost 600 billion dollars on Tuesday and had recouped much of the rest on Wednesday.
But I suppose that isn't the shoe you're waiting for.
remember the scariest words in the english language are: "I'm from the government, I'm here to help."


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