phat cat

The Weakness of the Treasury's New Bailout Plan

One thing I learned from the '97 Asia financial crisis is not to bet against the government. The date the HK government intervened in the stock market was the date the market hit the bottom.

Now we have a concerted effort by virtually all the governments in the world (minus iceland) on board to fight this beast, it'd be foolish to bet against them. I don't care how much the hedge funds have in their control, you are fighting against the guy with the money printing press. And where can you go if you don't like what the US is doing? Everyone is on the same boat this time! Look around, the Europeans are in even deeper, and the Asians are panicking even more because they need customers who buy their products!

In short, people, let's quit the doubting and move on try to make the plan work.