Ether_Snake said:
McCain will get a boost because people will be happy to see Wallstreet being hurt, it's an "Us VS Them" thing now, and McCain at the helm of the "Us".
You guys are fools to think that Americans will be angry that the bailout didn't pass.
Plus, Nikkei is down by peanuts right now.
Actually, I think you are sadly correct. I think most Americans are probably against the bailout, or at least suspicious of it.
My point is mainly that Americans are too stupid to even know what is going on. We are entering uncharted waters, but on the nightly news they had a fucking three minute segment again trying to explain what a sub-prime mortgage was, and what a securitized mortgage was. The reality is, people are just unaware of what is going on.... my main argument is that in a month when the real economy starts falling apart, Americans will freak out.. who that breaks in favor of, im' not sure..
But I also wouldn't read too much into the Nikkei. Right now we are still dealing with the credit markets failing. The trickle down impact of this is still a few weeks away. We probably won't see the real bad shit begin for another few weeks, IMO.
Right now, credit is drying up. In a few weeks, layoffs and liquidity shortfalls will trickle down to consumers, they will then consume less, which will lead to lower earnings, which will lead to missed quarters, which will lead to stock price collapse, which will lead to more layoffs, etc..
Right now we are only in the top of the 1st inning of the financial meltdown. The shit hasn't even gotten 'real' yet.