Bailout Bill!
Today the House of Reps. will be voting on the bailout bill. This bill started out with only three pages. The bill that was passed by the Senators was over 500 pages long. This is because everyone wants to through in their own little pet projects. This is how our government works. Is it right though? I don’t think it’s right at all. I think we need to stick to the problem and leave all the pet projects out. But that will never happen, as long as we keep electing crocks into office. Before we elect anyone we need to make sure we do a credit check and complete background check for now on. Oh, and drug testing on these elected officials. I swear I think a few of them are on drugs. Anyway, these are the chosen ones to vote on bills that some never read. Heck, if they ever did read them they might never understand what they’re reading. How many do you think sat down and read the new 500-page bailout bill. I would say about 100 sat down and read it. The rest will just play follow the leader. I will end with, pass the bill House of Reps., give the American people at lease a chance to make this work. If it doesn’t pass today god help us all.
Bad Days To Come!
Another huge drop on Wall Street today. The Dow Jones industrials fell more than 340 points to end at 10,482.45. The sure sign of a recession is in the air. I’m starting to believe that even if the house passes the bailout plan will be enough to save the economy. We’re at a seven-year high in jobless claims and factory orders are way down. That means more jobs will be lost very soon. And now we’re coming into some of our biggest holiday shopping months, which the retail market could feel the pinch. Heck, I wouldn’t be surprise by Christmas time we’re in a recession. The way I see it is, this bailout bill isn’t going to help at all. But if it does help, which I sure hope so, I will be surprise. As always, let hope for the best, but be ready for the worst.
Automakers In Trouble!
The word on the street is that automakers are now feeling the pinch of this widespread credit problem. Most all U.S. and foreign automakers are reporting 30 percent drops in monthly sales. Automaker Honda Motor Co. reported a 24 percent drop, which was the best compared to others. With credit being so tight and economic worries this will only hurt automaker in the following months. And let’s not forget the high price gasoline, which slowed down truck sales. I think that we may even have a few automakers go bankrupt by year’s end. This could happen if the Senate and Congress don’t pass the rescue bill soon. Passing this bill will free up some credit and get things moving again. I will be watching tonight, so I won’t be surprised in the morning. If they fail to pass this bill we will have a crash on Wall Street come first thing in the morning. Lets all hope for the best.
Rescue Plan!
Will this rescue plan be enough to save our economy? That’s the million-dollar question that is being asked by just about everyone. I really don’t know if this will be the right move. There are a lot of people on both sides of this rescue plan. A lot of people feel it will help make of economy get back on track. And on the other side of the coin a lot of people think it will fail. I will say with the Dow Jones opening down 200 points it looks like is very will could fail. The Dow’s rough start could also be because of the sale of Wachovia to Citigroup Inc. So over the next few days will come the real test of this plan. I do sure hope it works out in the end. I really don’t want to go through what mine grandparents went through with the great depression. I only want what’s best for my family and America.
