After seeing this morning's headlines, this page is left wondering if I should take Lou Dobbs' advice and has retreat to a dark corner while I suck my thumb:
"...day of carnage" - The Globe & Mail
"Global Contagion" - The Vancouver Sun
"Market Crisis" - The Province
"Crisis on Infinite Earths" - D.C. Comics
"Crisis? What Crisis?" - Supertramp
Wow. All because 228 Members of Congress voted to adhere to the wishes of their constituents rather than the wishes of some of America's most notorious corporate criminals, aided and abetted by a corporate media who are treating the cyclical nature of the economy like the Coming of the End Times. This page is no economist, but I didn't think that rock bottom interest rates, bottomless tax cuts, and a regular blank cheques for the Iraq occupation could last forever - sooner or later, something else has to give besides George Bush's key to the White House.
Until the public sees a bailout package that actually has some actual oversight and some real enforcement provisions, it's not a bailout package worth voting for. Congress can do it right, or they can do it fast. Over the past few days, nobody in the financial services industry has been advocating moving off the buy low and hold strategy, it's still a sound strategy unless one is planning not be around that much longer. It's a sound strategy for anyone in Washington looking to be around after November 4th too.
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