The Economics and Politics of Ignorance:

[Crewleader]

4 Reasons Why Wall Street, Politicians, and the Mainstream

October 4th, 2008 by: Dr. Housing Bubble

Congratulations! We are now the future proud owners of $700 $810 billion in the most toxic, putrid, rancid, and horrific mortgages that humankind has ever encountered. On Friday as the Congress went through their Broadway-like charade of actually debating and acting like they care about middle America, the bill which was just rejected on Monday was passed even though the 451 page new Senate bill was essentially the 110 page bill that was rejected just earlier in the week. The market at one point was up 300+ points with only a few hours before closing. Where did the DOW end the day after we sold out America to Wall Street? Down 157 points. Why? Because after this anti-climatic Wall Street bailout the American people now need to confront the reality that their politicians, Wall Street, and mainstream media don’t give a damn about them. Why? I’ll give you 4 reasons.

Point #1 - Employment

First, if you were actually paying attention to some of the market fundamentals employment is still horrific. The data came out Friday morning but most people were glued to the bailout bill passage. September saw 159,000 jobs evaporate, the worst month in over 5 years and our 9th consecutive month of job losses:



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