CHESSNOID

I am surprised to see the stock markets down again today.  I figured that since the Senate passed the Fraud Bailout Bill of $700 Billion that investors and institutes on Wall Street would start a buying frenzy in hopes that the bottom of the market has come.  We had housing reports the other day saying that the Schiller index fell 16.1% and that really didn’t spook the market.  Today, we had a couple more reports about unemployment and manufacturing but I think everyone was expecting lower numbers.

I am expecting the House of Representatives to pass the Fraud Bailout Bill. Supposedly it is better and will solve the economic crisis.  Unfortunately, it is obvious that it doesn’t begin to deal with the origin of the problem nor address the second tsunami of mortgage defaults and foreclosures that will happen early next year. Based on the weaker economy today, everyone will have to become more economical and watch their money to survive the next couple of quarters.

I also believe with the many ideas floating around about how to solve our economic turmoil, it would be wise for Congress to start figuring out which ones are the best ideas to execute into a plan vs the bailout bill to buy WORTHLESS debt.  Seriously, I pray that the House stands up for the American people and not throw away our tax dollars.  The majority of Americans do not approve of it and have voiced our opinions.  Let us hope the House doesn’t let us down like the Senate.

I believe Senators Obama, McCain, and Biden should all resign themselves from the contest because they are all CLUELESS on what needs to be done.  On top of that, they all supported the FRAUD BAILOUT BILL.  They all repeat the same sound bites that the 3 stooges pitched them that their will be economic chaos consisting of layoffs, massive foreclosures, and rising food and gas prices. HELLO! We are living that reality already.  Where the hell have all these elitists been for the past 10 months.  I have been blogging about this for a year. Other bloggers have seen the bubble for a few years.  Why is this a surprise, now? I bet none of our candidates know the price for a gallon of gas or the price for a loaf of bread.  That is the luxury of being rich and out of touch with your constituents.