Friday, May 13th, 2016

Congress passes bail out


This should be good for the markets and economy. The Senate and House both passed the legislation. This bill should help homeowners, businesses and the economy and of course our fat cats on Wall Street. It may be time to cautiously enter the markets with stops in place. Market volatility is still high, VIX at 43, job numbers really poor and unemployment up. This bill will be a step in the right direction, and I hope it will gives time to be able to invest again and hope the markets bounce off these sharp lows, and place a trade bale bottom that most traders are looking for. So far this week been good to us. But what a roller coaster ride it has been down 777 points up next day 450 and down again into the gutter for the week, contrary to the expected market rally that should have ensued right away…

The bail out is full of earmarks -Here is a grocery list. More than 2,300 appropriations for home-district projects that total up to 6.6 Billion dollars. Here is a partial list: $2-million study of “hibernation genomics” at the University of Alaska. $800,000 for the study of razor bumps. This money would go to a pharmaceutical company outside of St. Louis, Mo. $1.6 million for research on low-temperature vehicle performance at Wayne State University. $5 million for a sustainable-energy project for the Vermont National Guard. $1.75 million for a Presidio Heritage Center. $1 million for a Military Intelligence Service Historic Learning Center. $1.75 million for Expanding Access to Proven Lifestyle Modification Treatments Focused on Preventing and Reversing Chronic Diseases. * Tax breaks for rum producers in Puerto Rico and the Virgin Islands. * Tax breaks for producers of wooden arrows used for children’s toys. * $10 million in tax breaks to small television and film producers. * $128 million of tax breaks for the manufacturers of car racing tracks.

This has nothing to do with the economy, housing, credit markets and Wall Street. This is the way Washington works.



Comments

4 Responses to “Congress passes bail out”
  1. I appreciate your post! I usually don\’t even bother to leave comments, but i like what you had to say here! Would you mind terribly if I left a link back from my site? My visitors would appreciate this!

  2. I appreciate your post! I usually don\’t even bother to leave comments, but i like what you had to say here! Would you mind terribly if I left a link back from my site? My visitors would appreciate this!

  3. Politics says:

    I enjoyed your point of view… finally someone said the right thing! :) Would you mind terribly if I place a link back from my site at whiterabbitcult.com?

  4. Hello, i guess this is as good of a place as any to post and let you know. I went to subscribe to your RSS feed, and when i clicked it i got an error that said “Parse error: syntax error, unexpected T_CONSTANT_ENCAPSED_STRING” followed by other gibberish that scrolled off the screen. I had to force the page to stop loading because it locked up my browser. Cheers.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

*