I’m not one to take a one day sampling of the stock market and make a “see-I-told-you-so” snap reaction. Â It’s pretty unreasonable to think what happened in Congress on Friday would have much of an impact today–the assumption of the passage of the bailout was already priced into the market. Â But the reaction to today’s drop is fast and furious, so I thought I’d join in with some snark.
Dow dips below 10,000—Maybe the market realized over the weekend that its new business partner is the US Federal Government?
Should the Fed cut interest rates?–That sounds like a good idea…let’s rig the system so that we canÂ borrow our way out of this. Â Why didn’t someone think of that before?
Global markets affected by the credit crisis–Duh. Â Easy fix–just set up some sort of central banking system. Â Better yet, let’s set up several.
The biggest irony of all–we continue to look to the people who cause problems to solve them and wonder why things don’t get better. Â My favorite phrase is being thrown around by fear mongers is “uncertain economic times”. Â When have we ever lived in certain economic times?
2 Replies to “$700B Well Spent”
There’s so much getting slung around right now.. (Thursday’s loosening of credit to the tune of $660 Billion, the Bailout for $800 Billion) that pretty much the only thing that’s guaranteed is that certain slick money folks are gonna get fat at the public trough… No matter where the money ends up going…
The situation really sucks for those of us who didn’t profit in any way, but will pay.
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