Billy:
This Rubin lady really is a moron. She said Joe the Plumber and was actually trying to make a serious point. God help us. BTW Jennifer, you hypocrite, the markets are testing the OCT lows now, which happened under Bush, because he was not doing anything to stem the crisis. So in your infinite wisdom you want Obama to do nothing too? Hmmm, that sounds about right. Let the “markets” handle it. Do you realize we have a $3 trillion hole in our banking system? Unless you have that cash lying around, and you can recapitalize the banks by yourself, then it is going to take more, not less, gov’t intervention and Fed policy. Period.
Yes, because the markets in October were CLEARLY reacting to the exact economic situation of October, they weren’t looking forward at all to conditions in the future. That’s really the liberal view of markets isn’t it? Well, it also happens to be exactly wrong.
As a matter of fact, too, there is $3 trillion lying around in various private entities, only the government keeps propping up the banking system to the advantage of the current bank owners and won’t make them take the losses they need to. Same goes for the auto industry. The idea that the government has to ‘do something’ is caused by a lack of understanding of the way financial markets work.
My prediction is that the S&P 500 will not see the levels it was at before Obama got elected again during his 4 years in office.
