Monday, September 29, 2008

Uncertainty: Update

While the GOP leadership was addressing the media for about thirty minutes after the failed vote, the market was holding steady. Commentators were stunned that amid this resolution's defeat, investors retained some level of confidence.

When the GOP wrapped up, the Democrat leadership took on the media with their typical messages of fear and desperation. They engaged in a political food fight of sorts that has disgusted many Americans. Pelosi and her fellow liberals were quick to shift the entirety of the blame onto the Republican minority, even though more than 90 Democrats voted against it as well. The message the Democrat leadership put forth was a biased and heavily partisan one which did not sit well with investors.

In their approximately forty minute address, the Dow tanked an additional 130 points. We are now flirting with the largest single day point decline in Wall Street history.

Uncertainty is the problem.

And the Democrat Party made it clear today they have no solutions, just more attacks.

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