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..There's a little Samuel Pepys in all of us..

Saturday, September 20, 2008

A brief note to start the weekend..
While the American government's injecting hundreds of billions into the money market appears to have quelled the fears seen throughout Stock Exchanges worldwide.. the fact is that it's a band-aid measure.. not a solution.
Whether it will have long-term effects.. other than leaving taxpayers globally with massive shortfalls.. is moot.
Will it spur private investment..?
Will it replace the thousands of jobs lost through the several financial mergers we've seen this week..?
Will it allow a recovery for the man on the street, who's main concern is inflation and the diminution of disposable income..?
Moot, at best.
Doubtful, if one is realistic..

One had to smile at the grass-roots approach Barak.. who stated that it's great to see the markets solidifying, although he didn't mention where the money was going to come from.. Barak aimed his comments directly to the American small businessman, in saying the government should be concentrating on 'main street economics'..
And while it's a far less popular a stance, McCain states 'enough!.. Banks should not be supported by government takeover..'
This election campaign in the US appears to have lost any basis in reality.. It's going to be a vote based on emotion.. not from an understanding of what issues will face the new administration and who has the best plan for getting the American machine running again..

More through the weekend. Labour's Annual Conference begins with the coming week, and it will be exceedingly interesting to see how Gordon weathers this meeting of the Party Faithful..

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