Bailout Looms as Stocks Get Stuck in Neutral

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Congress continues to ponder a bailout plan to assist Wall Street in buying troubled assets stemming from the housing decline. The stock market continues to wait on Congress to throw away tax payers money. There simply isn’t much out there in the market that looks good. This market looks very weak, stocks in my scan of the market is hitting its lowest level prior to the big decline last week. New Lows continue to pound new highs and VIX is sitting at the 35 level. The market certainly isn’t believing in the Congress to get ANYTHING done, including doing NOTHING and letting some firms go out like LEH.

It is time the Austrian School of Economics is taught in this country. For too long we are taught that government is able to step in and support the economy and interfere with markets. It is unfortunate that this is simply socialism and it only creates drag on the economy and steals from the productive in the society.

Bring back a truly free capitalistic market, let market forces determine pricing not the GOVERNMENT.

Enjoy

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