TRADING 04 FUTURES

[TREND1]

We are not alone. Ireland was facing a credit market freeze-up as well. In response, the Irish Parliament passed a measure guaranteeing all $600 billion of deposits in Irish banks. Both houses of Parliament voted overwhelmingly in favor of the measure. Ireland is a small country with a population of about six million. We have more than 300 million Americans. Ireland did not blink at a rescue package worth about $100,000 per Irish person. We seem terrified of a $700 billion plan, or just about $2,300 per American. We should instead be terrified of what will happen if we do not get our credit markets functioning and soon. The Irish plan seems to be working. Money is flowing into Irish banks. That is irritating some British bankers but it is helping Ireland.