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Monday, September 29, 2008

Cheaper Beer?

If you haven't considered your hand at homebrewing yet, well, now may be the time to start:
In a moment of historic import in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry. The vote came in stunning defiance of President Bush and Congressional leaders of both parties, who said the bailout was needed to prevent a widespread financial collapse....

Stock markets plunged as it appeared that the measure would go down to defeat, and kept slumping into the afternoon when that appearance became a reality. By late afternoon the Dow industrials had fallen more than 5 percent, and other indexes even more sharply. Oil prices fell steeply on fears of a global recession; investors bid up prices of Treasury securities and gold in a flight to safety.
Oh man...

1 comment:

  1. Short term pain for long term gain is not a bad thing.

    Anyone under 30 should be celebrating that we didn't get stuck with the bill.

    (But good luck to everyone in the short term.)