GiantCommunistRobot wrote:Subjective opinion beyond substantiation. C'mon, admit it, no one really knows that, do they?
I added the winkie thing, what more can I do????
Giant Communist Robot wrote:
Shapley wrote:I expect the Dow to recover, as well. I think the bottom may have been reached
...at least in general principle. Now it looks like sour grapes from the election.
I still do. However, government can do things to screw it up in their efforts to make it better. This is one of the problems with the bailout - it can go very, very wrong. The Republicans knew this, and opposed it, but enough of them finally buckled to get the thing passed.
The UAW and the auto makers met with Nancy Pelosi today, to ask for more bailout money. The problem with the auto makers is that nobody's buying their cars. The trouble with the UAW is that their workers are not needed to work assembly lines that aren't running to build cars that aren't being bought. How is the bailout going to help them? When we bailed out Chrysler in the '70s, the problem wasn't that cars weren't being bought, it was that Chrysler's cars weren't being bought. The bailout was offered with a plan for a new strategy to persuade people to buy Chryslers instead of other cars, and it worked. Today, nobody's buying any auto maker's cars, so there's no market share to recover. Toyota is in trouble, GM is in trouble, Ford is in trouble. Washington doesn't have the solution, but they're so hungry to look like their doing something they'll end up doing the wrong something.
So, in a way, the guy with the top job could cause some concerns in the market. However, I stand by my statement that it's too early for that. he doesn't get the job for two months yet.....