InvestYoung

Painful Recession!

When the President of the United States says there’s a recession coming, it’s coming. President Bush is really pushing Congress to pass his rescue plan. Most American’s out there don’t fully understand how this bailout plan will work. I will say that as much as I disagree with it, we need it. We need to get the credit rolling again. If you can’t get credit everything will stop. People will stop buying homes, cars and any other big ticket items. I also feel that the CEO’s of these companies’s that cased all the problems should be fired with no termination packages. You know what, maybe that should be added in with the bailout plan. Anyway, Congress needs to approve this bill now.

Clinton’s Supporters!

It seems that Hillary’s huge support to run for the White House is still there. Hillary is trying her best to get her supporters to back Barack Obama of for President, but it’s not working. Hillary’s supporters don’t trust him and are still a little mad because of the two going head to head to win the Democratic Party ticket. I read on Yahoo! that an “Associated Press-Yahoo! News poll shows that among adults who backed his rival during their bitter primary campaign, 58 percent now support Obama.” This percent hasn’t change and is becoming very alarming to the Democratic Party. They need these supporters to get behind Obama, or they will lose the White House. The Democratic Party can only blame themselves for this problem, they let Clinton and Obama fight with each other and split the Party into two. If the Democratic Party brings their Party back together they might have a chance, if not they will lose the White House for another four years.

Heavy Traffic!

All the major problems on Wall Street have also affected financial web sites. People from around the world have been having trouble logging in to check their accounts. Not only check, but to sell and buy at huge discounts. One of the online brokerage firms, Scottrade Inc had huge volume of trading going on. The only problem was that with some many people logging in, it slowed down their site. This slow down didn’t just affected Scottrade, it affected just about all the online brokerage firms. I had read that these sites where running so slow that 5 to 10 percent of the users couldn’t even gain access to their accounts. That’s a lot of people not being able to access their online accounts. Hopefully things will still turn out ok for the ones that weren’t able to gain access. With new plans coming in from the Fed we won’t have another financial meltdown again.

Stocks Heading Up!

Today is going to be a huge day on Wall Street. With the U.S. government stepping in to save things. The U.S. government has plans on rescuing our nation’s troubled banks from their souring debts and problems. If things weren’t so bad I would say that the government needs to not help these banks. But the problem is that their problems are becoming our problems. Therefor the U.S. government needs to step in and protect the general public that is why we have a government. The government needs to make sure that these banks pay back every penny they borrow plus some. And have policies in place to make sure this never happens again. I had a real hard time this week and I hope never to go through another crash again. Because that’s what it was, a stock market crash spread over a few days. I have never watch some much money slip down in one week. Today will start over 400 points, but how will it end. I will be watching through out the day and driving my wife nuts with updates.