You saw the DOW go from +130 to -50 after the vote. Fuck, I wish senators and reps had the same term limits as the White House. OK, the bankers got paid. And every crooked politician in the lot. You can bet they made deals to never have to worry about their financial futures. Are we too docile to revolt with civil war? What about next time, when they come for your guns? Your gas-burning vehicles? Your surplus food? Won't happen, this is America. Correction, Amerika.
The real cost of this mess will probably be 3X's as much. We are on the cusp of a major recession, global slowdown. Unemployment rate will double to 10-12%, bankruptcies will double, more housing foreclosuers, the US is bankrupt, dollar will collapse. It will be one bailout after another for 3 years! Can you say "New Deal Part II"!
TT1, agreed. Anything government estimates should be multiplied by 10. That's 8,100,000,000,000.00 of debt to our kids. Unemployment is already at 12%. Slick Willy changed how those numbers are calculated, so accurate figures are double what is reported. Somehow, the geniuses in Congress all missed economics. You cannot spend yourself out of debt. This is not war!!! Oh shit, I guess it is, against the taxpayers.
As issued on RFT's blog, do not be dupped. This market is heading UP. We are at a bottom. BUY, BUY, BUY with NDX in 1490 area, and SP500 in 1110 area! BUY, BUY, BUY (al the level indicated in this post)! I love america. America's best days are ahead!