Congress will say anything
I was in shock regarding Secretary Paulson and Chairman Bernanke's comments last week, even called it treasonous. Their comments paled in comparison to the President and Congressional leaders analytical description of the US economy over the weekend. All in an effort to bail out the markets. (LOL)
Truly if companies cannot pay their bills and workers cannot cash their pay check this country is in a world of hurt. Given Congresses expert analysis is there any surprise the market is down 3 percent this morning, globally equity owners are down nearly 4.5 percent?
I hope everyone is sitting in a globally diversified pile of cash and short-term government bonds because in a couple of days guess what? It is OCTOBER!
There is two things we investor - voters can do.
Truly if companies cannot pay their bills and workers cannot cash their pay check this country is in a world of hurt. Given Congresses expert analysis is there any surprise the market is down 3 percent this morning, globally equity owners are down nearly 4.5 percent?
I hope everyone is sitting in a globally diversified pile of cash and short-term government bonds because in a couple of days guess what? It is OCTOBER!
There is two things we investor - voters can do.
- Sell your global equities, who knows where this economic event is going to go. Congress will say anything to get in front of a TV camera and refuses to think before they talk. I call this the BAIL OUT before the bail out.
- If your Representative or Senator votes for this package, vote for the other person.
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