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$US700b bailout deal voted down
1points
Wall Street's benchmark Dow index has suffered its worst single-day points hit ever after a $860 billion ($US700 billion) financial bailout package failed to pass the US House of Representatives.
Source: http://business.theage.com.au/business/us700b-bailout-deal-v…
Comments
There goes the neighbourhood … it’s a shame it’s the global neighbourhood that the volatile US economy is destroying.
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Tama, while the US is definitely the trigger, the underlying cause is worldwide … everyone has been quite happy to take cheap, unsecured credit for the past 10 years. That has to come from somewhere.
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Jordan, true enough, but the single biggest push behind both the philosophy driving such economics and those leading the way (downward) have been the US. I’m not suggesting the US is the only country at fault, but the massive political game that combines the biggest bailout in economic history with the tides of a US election are poorly mixed, at best.
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Time to stock up on gold, guns and tequila. Though, of course, tomorrow will have enormous gains because hey, who can resist a bargain?
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