The market got a bit of a bump today. Why? Relief rally perhaps after reaching new lows. China announced a new stimulus package which is much needed, but I would be stretched to say how much good it is going to us here in America. The economic news continues to be horrible. As for the mortgage plan I think it is certainly a step in the right direction. What is very clear is that the Government is trying more innovative programs to get help to struggling homeowners in an attempt to slow the downward momentum in housing prices. This is good but man or man... the cost of all this???? We don't want to know.
In my continued interest in linking to the best I read during the day I would suggest this piece by Thomas L. Friedman - "Obama's Ball and Chain." We are facing some really complex problems (as if you all didn't know this)... with no easy and obvious solutions.
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