The revised bailout will pass while the public is 10 to 1 AGAINST it. Politicians are nothing but Shameless Whores owned by Elite Money. And the public? Mindless animals to be worked and pandered for votes. Talks of market collapse. Depression. Huge Unemployment. Fear Mongering to conjure a blank cheque for Wallstreet and its Banking Cohorts.
Asian markets are slightly down, Nikki and Topix. Us Futures are soft to start. True Economics come to play now. We are in a Global Recession. This bill may or may not prevent a deep and dark Recession. They just fought off a Depression for now. Lets get back to Business and start to see the Numbers for Unemployment. Auto's numbers were bad, PPI/CPI will be. Feds are posed to Cut, Feds Futures are showing. Now its time to make money for the pros, and the rest, well, will wash out. Yes, Unemployment in the Financial Sector will reach Epic levels.
Bailout of Hedge Fund industry and then Mutual Fund Industry next - or maybe they will just pass a law forbidding unpatriotic redemptions so the stock market can only go up - that would suit the new patriots in industry best - real reason, no redemtions means no lost fee income!. P.S. media has been awfully quiet about the approval of a multibillion bailout to the auto industry.
I don't think the average person understands what is best for the country and the economy. When an average person (who doesn't own stocks) hears there is a "bailout plan" why in the world would they support it? I'm glad that the country is run by people who know what they are doing and not the average Joe.
you know whats sad about the auto bailout is that additional 7 billion is added JIC(most likely) to cover the losses from the loans.
The general public may be 50% for/against the bail out, but properly leveraged through exotic but illiquid derivatives it can easily be made 10-to-1 or greater!