The G-7 and G-15, International Groups met, and hammered out a plan, that was announced over the weekend. Basically that funds would be infused into the various markets, in one form or another, that being, some countries taking shares of stock in their banks, others having board participation as well, in some intances. But all trying to shore up the falling financial markets around the world, with cash infusions. The U. S. is reluctantly following the British model, as Secretary Paulson, expressed his feelings Tuesday morning. The U. S. stock market appeared to like what it heard, and rose over 900 points, to the largest one day gain ever. Other markets around the world followed suit, and it's off to the races. Some day traders are pocketing bundles, with the plunge downward and upward on the same day. But broadly, the concept of shoring up the markets with almost unlimited cash, is bringing some sense of confidence, in the markets. Then there's tomorrow. Hopefully there will be stability, in the near future. Then, work needs to be done to change the systemic problem, whatever it is, where entire financial markets come tumbling down, like dominoes, almost all over the world. It is not over yet, but a breather is certainly a good thing.
Shock of shocks, politically, Christopher Buckley apologized to his late father, William F. Buckley, and endorsed Senator Barack Obama, and of all people, Christopher Hitchens came out on the same day, with his endorsement of Obama. Three national polls have Obama at 11 points over Senator McCain. Senator McCain's supporters are quite upset with him, they seem to be pulling back daily, as they sense that he is not going to win the election, unless things change immediately. Senator McCain has said that he is "going to beat Obama's you know what" in the final debate Wednesday night, in New York. Wonder if he let Senator Obama know? Me, you never signal your moves in advance, quite an embarrassment, if you get your, "you know what" kicked instead.
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