Thursday, October 02, 2008
PREDICTABLE
I was amazed when everyone freaked out over the 'bailout' proposal which couldn't have been handled worse politically or PR wise.
People were outraged at 'bailing out' those bastards on Wall Street.
Didn't they know that they were the bastards getting bailed out?
Shit, everyone has an IRA or a 501K or something.
And Congress. They got the nervous shits at the same moment. It is an election year.
Well, of course, the Dow took a dive.
And everyone called up their broker or administrator or went on line to see what had happened. And they were not amused.
Whip saw.
Now, the Congress were the bastards. And rightly so.
The Republican party is in the hands of the barbarians. The red meat conservatives and the christers.
Amusing to say the least. And at this moment when the Senate has acted, Wall Street is sending another message to the House Republicans. The Dow is at minus 200. Back to the deep dive levels.
Word Reaches Congress: As the Market Goes, So Goes the Electorate
I am sitting still. Watching the show. What goes down must go up. My friend who cashed out is looking at a 10% loss on his retirement funds and is now scrambling to find another place to put the money as he went to 30-day notes at a big 9% interest but they are not being renewed. Lucky if his bank will let him put the dough in his savings account.
Well, that is an exaggeration, but still.
Labels: market
