Monday, September 29, 2008
By now, you're feeling as nervous as...well, we all are.
The Dow was down more than 300 points in late morning trading Monday but fell more than 700 points in late-afternoon trading after the House failed to pass the bailout bill.
If there is a light in the darkness, we can't see it yet. So obviously there is a lot of danger, no matter which way we sail. And financial institutions like Wachovia aren't out of danger yet.
The good news is that (astonishingly) the dollar rallied and looked a little better than the Euro, which seems to indicate that the market feels the dollar is still a better investment. However, an expert has said that the move into the dollar and bonds Monday isn't as much a flight to quality as it is a "flight to refuge."
I hope this continuing difficulty signals the McCain campaign that the bailout isn't enough: Obviously, the war is a very bad hobby to continue to indulge in. If we want to protect ourselves and our investments, then the protection needs to start at home.
At home, we can shore up our border defense and ferret out the illegal aliens (some of whom are undoubtedly terrorists). At home, we can put our soldiers to work a little closer to their families. At home, the slaughter of our troops will not continue at the same pace that it is now. At home, the defense of American interests becomes a little more plausible.
The government needs to get it's priorities straight. Until people demand accountability and true leadership, that will never happen. And up to this point, the people have not really spoken, or we would not have the two poor candidates that we have now.
We are left with two weak candidates: One is an inexperienced socialist, and the other is too much of an experienced Washington insider. Neither one is equipped to drag our country out of this quagmire.
At this point, even Ron Paul is starting to look good.