I am willing to go all in and believe 100% we are in a recession. It is not the case that the bailout is going to make everything right with the stroke of a pen. No No. It is going to stop things from flying apart and that is very important to recognize. But the economy remains mired in some pretty nasty muck and jobs keep disappearing. Sorry to say it, but it is true.
Some ask why the market fell after the bail out passed. I dunno, maybe you can tell me. Trying to explain the day-to-day, no wait, hour-to-hour variation in the market is a fools' game. You want to try it...go ahead. I'll come visit you at the local mental health institution for the psychologically challenged and differently abled because that is where you are headed. This is a bash-free blog so that is why I will not call it "the nut house".
Like my dad said to me 6 months before he passed away, "Son, I'm so old, I don't go past the cemetary because I am afraid guys with shovels will start chasing me." Go trying to figure hour-to-hour market moves and the boys with the white coats and straight jackets ain't far behind.
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Here is one explanation of the new bill that may be more accessible than most:
http://personal.fidelity.com/misc/framesets/iwarticle.shtml?pagename=IW080929govtrescue&fca_id=20084343p01
Now the question is: Is it going to be a sharp, short one or is it going to be a long, drawn out affair? US economy needs a major correction. The imballances accumulated over the last two market bubbles are forcing a correction. Now, if the more populist elements in the political system gain the upper hand, I fear that they will force a "jobs at any cost" mentality on the treatment of this recession. That is precisely what the patient does not need now.
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