Bad day for naysayers...

http://biz.yahoo.com/ap/081013/wall_street.html

Well I hope those who were predicting doom and gloom (and that President Bush's rescue plan would never work) are not too despondent today.

I realize it will be a humbling experience for them.

So rest assured I will not be "gloating" or rubbing it in like they have been doing as the markets continued to slide before the gvt. intervention took hold.

Obviously the crisis is not over, and the market could go back down today. (I suspect some would like to see that just to maintain their own credibility).

But I for one hope the corner is turned.

And I hope we never listen to the rightwing so-called free marketers again and let these fatcats run wild. We need reasonable regulation.

Maybe we just had to re-learn the lessons of the Hoover days.

If we could only get Stalin back again...

http://bloomberg.com/apps/news?pid=20601087&sid=a1v8Hglg4jBs&refer=home

`Sea Change'

``"We're looking today at an absolute sea change in the global financial system in terms of liquidity,'' Stephen Schwarzman, chief executive officer of Blackstone Group LP, the world's biggest leveraged buyout firm, told a conference in Dubai today. ``This could be the time that breaks the back of the credit crisis.''

Ah, but Sherm.....not all of us were saying disaster would strike overnight.

Some of us were saying, and continue to say, the bailout will stall and exacerbate the disasterous consequences will will undoubtedly face for printing money out of thin air, throwing good money after bad, further indebting our nation, etc.

Time will tell.

I do think it's a shame about Stalin, though.