September 29, 2008: Judgement Day?

Let's start our first official post with the fact that today, September 29, 2008, is a day that will go down in infamy. As I type this to you today, I am attempting to get ready for a power nap, so that I can watch the overnight reaction from the world markets regarding the audacious actions of the congress of the United States. The fact of the matter is that, there were still people out there as late as a month ago, that would not acknowledge that our country was in a recession. If you watch CNBC for example, you would see various pundits, that would go about explaining why we are not in a recession, and why we should remain bullish in this economy. What was suppose to happen, and the mild expectation for today, was that the bill would be approved, and that there would be no way that the House of Representatives to kill this bill rationally. A rally would then ensue, with of course its ups and downs, but that ultimately, that did not happen. What did happen instead, was a night mare, politics.

I am disgusted with both parties. Some may say that an ideological marker had been placed at the center of the moral compass of this nation with the actions that were being taken by the congressman, but these actions taken by your local congressman, were more like mere acts of self preservation, rather than the act of moral leaders. For goodness sakes, we are talking about the United States congress.

I am not going to explain the political dynamics involved in the final decision of the congress, nor will I even enter into a dialectic about whether the bailout is a positive or a negative. The fact of the matter is that during the voting of the bill, as the Houses number went above 200 in the nay, we saw the market plummet.

I am in absolute agreement with many of the pundits in CNBC: There is no difference between Main Street and Wall street and that as far as how this will affect ordinary Americans will remain to be seen. It is now 12:24 am, September 30th. I await for 1 am, with dread what will happen in Asia tonight. Judgment Day, from the east, after the citizens of the west past its verdict on what has had to be some of the most egregious actions taken by corporate America to come to public light, the likes that would have made Boss Tweed blush. I await judgment from the Europeans, who, themselves, are in a similar position. They are extremely worried what is going to happen with our markets. I await the next day, when the Dow Jones will be starting at 10,365, after suffering a 777+ drop in one day. Once again, I look forward to our President, trying to calm Wall Street and the nation down, for the second time in two days, giving his fireside chat, in the futile hopes of keeping the markets from burning. It is a time where many old forturnes will be lost, and new ones will be born. Those that will be judged by fire, will either burn with result, or rise from the flames in rich glory. The TRADE is ON!!!