House passes bailout. Markets jittery
The House overwhelmingly passed the bailout bill. The dollar is down a little today, gold is down, oil is down, and the stock markets have fallen back from earlier gains.
I guess investors’ prevailing strategy is to get into US government paper. Apparently most investors don’t see the bailout as the final solution. Investors are taking a look and see attitude.
Next week and the weeks after that should continue to provide us with this most dramatic reality show. One in which all of us are involuntary players.
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October 3rd, 2008 at 6:53 pm
The bailout being passed is making me, personally, very anxious. It seems to me that after the huge losses in the stock market after the first bailout was defeated, would be motivation for a bailout, any bailout to be passed in an attempt to bring those numbers back up. Also, what sort of mindset were our elected representatives in when they worked on this plan. I have always been taught you don not make big decisions like this when there are a lot of emotions involved. Just wanted to share with someone who would understand. I hope all is well in your neck of the woods.
Matt
October 3rd, 2008 at 9:13 pm
Matt,
I’ve listened to a few in the know and read some in the know and those in the know don’t agree on the advisability of the bailout. Even those who are for it don’t see it as the solution but rather just a beginning. As always, there aren’t any guarantees. I’ve got to go with hope. Beats hopelessness.
Hope you guys are doing well.
Ridge