It is my sincere hope that this country’s economic crisis is solved with this new bailout plan that was signed into effect today, but honestly I don’t know that anyone in Washington has taken one step towards resolving the problems that got us here in the first place.
Here’s an analogy, let’s say you have a water leak, you put a bucket underneath it to catch the leak but in the bucket you find that there is a hole. At the end of the day have you really addressed the problem?
Today as I watched the markets close downward I couldn’t help but ask myself how much faith investors have in our entire process anymore. I also quickly glanced over some of the additions or earmarks that were added onto the bailout and almost fell out of my chair. in addition to the 700 billion dollar dollars of our tax money that is going to bail out wall street we also somehow managed to cut taxes on wooden arrows for children? Oh, and by all means let’s be sure to cut import taxes on Rum and Wool imports while we are at it…
Sorry folks, I am a pretty intelligent dude but I can’t see how these things are anywhere remotely related. What did I miss out on or is this a real life WTF?
CNNMoney.com Market Report – Oct. 3, 2008
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