The Dow is a NUTBAG in my opinion right now. The employment numbers came out and they're TERRIBLE reaching new highs. The economy is going in the toilet no matter what happens with this bill.
And by the way...It's still up in the air whether this will even come to the floor at all. The repubs WILL NOT SAY that they have the votes yet. A lot of arm twising is currently underway but when asked they would not yet commit to a sufficient number of votes.
If the bill does pass we still have to wait to see at what price the assets are sold to the fed. If they pay too much they'll need to come back and ask for more taxpayer money...which IMO AGAIN, will not be given. NO way now how!
And that will mean that printing money is the only tool left to them...INFLATIONARY.
If they get a reaonable deal on the assets...we'll have to wait and see how the reverse auction goes and then watch from there what happens in the credit market.
McBUSHIE'S choice of Palin was irresponsible, dangerous and insulting to America's intelligence. That choice and his continuing smears/lies prove he'll do anything to win this election even to the point of endangering his own country.DEFEAT HIM!
