I have CNBC on in the background and between reading and watching the events unfold one of the anchors labeled the situation perfectly.
He essentially said that a close of 200 – 300 (in the DOW) points down won’t send a strong signal to everyone that there really is a crisis. However, if the market closes down sharply then that will send the needed signal that something “MUST” be done. We are being spoon fed a load of crap.
This bill will probably eventually pass… With the amount of panic and amount of “wealth” lost today I wonder if the level of support will start to shift from negative to positive.
CNBC is also saying that Barney Frank said that they were going to monitor the market’s reaction after the vote. So, lets go through the motions and see how the markets react to a no go on the bill and then if they freak out we can make sure it will pass on the second go around.
Anybody ever been to a musical, a play, or a performance of any kind? Well, there are scenes and each is carefully planned out. First you lay the ground work and setup the plot, then there is a climax, and a resolution. I highly doubt we are even close to the climax, which means we have a long way to go laying the groundwork.
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