Tuesday, September 30, 2008

Stocks surge higher, but credit worries persist - Yahoo! News

Stocks surge higher, but credit worries persist - Yahoo! News: "NEW YORK - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief." So not 1000 pts. but pretty impressive. I'm thinking that tomorrow we will start hearing a much scaled back "bailout", more like 400 billion. I heard Obama has attempted to steal the Republicans idea of raising insurance to $250,000. It won't work. This was proposed and thrown out by the Democrat majority, and now Obama proposes it and it's magically back in. We won't let him get away with it. Once we get the proposed bailout scaled way back (it should be less than $100 billion or nothing at all but it won't) and the conservatives get more say into what is done, then watch this pass with huge majorities, maybe even unanimously and watch the markets shoot up through the roof. The Fed will finally be able to pull back on the money supply, which will help inflation, energy is going down which will help a lot also. Things are looking good for President Bush's exit. He should be thankful conservatives saved his ... again.

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