Thread: Global Market Roundup: Will the Bailout Work?

Whew – what a wild week! Global stock markets and commodities tumbled, whereas government bonds and the U.S. dollar surged amid mounting fears that the ongoing turmoil in financial markets was foreshadowing a hard landing for the US and Europe.

The first-ever trillion-dollar loss (as measured by the Dow Jones Wilshire 5000 Index) on Wall Street came on Monday in the wake of the U.S. House of Representatives failing to gather enough votes to pass the $700 billion bank rescue package. Globally, more than $1.7 trillion was wiped off the MSCI World Index.

Considering the entire history of the Dow Jones Industrial Average since 1896, Monday’s decline of 777 points ranked as the largest points decline in history (see post “Fear Grips Global Marketsâ€

Poll link is in the middle of the article at link.


Will US bailout plan work

15.3 YES

69.6 NO

15.0 NO IDEA

I hate this bailout plan, but the point of it is nothing more than show for the rest of the world to give them confidence we are still a mighty nation, both militarily and monetarily. We have to realize that we, our opinions and actions are widely known in places like Turkmanistan--at the same time we have no idea what is going on in that country or any other countries around the world. Oh yes, we get stuff like 457 died in a mine accident,etc., but the opinion of the rest of the world about our abilities to continue is of no concern to American media. Very, very sad.