Daily Chicken Scratch

Friday, January 18, 2008

BUSH SPEAKS.....STOCKS TUMBLE!

How much more evidence is needed that our economy is sliding into a recession. A federal bail out of the mortgage industry and now a plan to hand out money in hopes people will just go out and spend it. These are temporary fixes to much larger problems and instead of worrying about policing the world or investigating steroid scandals maybe our government should start paying closer attention to matters at home.
Wall Street resumed its downward trek Friday as skittish investors, unable to hold on to much optimism about the economy, drew little comfort from President Bush's stimulus plan.

Investors had already pulled back from a big early gain, with the major indexes trading mixed as Bush began to speak. By the time the president finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.

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