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I can’t believe it. I mean I am in total shock and disbelief right now. Not only did they vote to not pass the 700 billion dollar bailout due to Nancy’s lame scare the people speech but the dow dropped like mad. 770 something point point drop in a single day. The worst ever single day drop in history and that includes during the great depression. Yeah, uh huh. We surely aren’t in recession. Please. What the heck is going on in congress anyway?

I have been watching the news very closely and although I think we are on the overall right track I am afraid that the short term decisions are not going to cut it. There are too many things being done to try and bailout the short term problems and no attention going into the long term resolution of this problem. That is going to take much more planning and work by both political parties together to figure out. I just hope everyone can stop fighting long enough to figure this out together.

According to a recent study by UCLA California’s economy is actually more sluggish than the rest of the nations. According to UCLA Anderson Forecast senior economist David Shulman, who authored the September forecast says, “real GDP growth to be about 1 percent in the current quarter and essentially zero in both the fourth quarter of this year and the first quarter of 2009. What we are describing is an economy operating at its ‘stall speed’ where any modest shock can trigger a full-blown recession.” Things are not looking good in Cali right now and I think I am actually glad I moved out of there when I did.

It seems that the US Senate is not liking President Bush’s financial bailout plan as much as the companies who need it are. They have put the thing into a slight hold as they feel it needs “more careful discussion and consideration”. Although I agree with that to a point I also know that if something is not done fast there is going to be even more backlash from this. The problem is that it is a no win situation. They approve it fast and there is 700 billion floating around with little rules and regulations but the economy is okay. They don’t and the economy crashes and we are all in trouble.

Earlier today there was an attack on the US Embassy in Yemen. Apparently 6 bombers hit all at once. Yemeni security officials and witnesses said the death toll was at least 16, including four bystanders, one of them an Indian woman. The other dead were six attackers and six security guards, the Yemeni officials said, speaking in return for anonymity because they were not authorized to brief reporters. Luckily there were no Americans hurt in the blast. It is a terrible thing and our hearts and prayers are with the victims families.