Henry Paulson came into a more than lacklust administration on July 3, 2006 and all of a sudden everything turns around UNTIL January 2008.
You can say what you want, but, there is something more than strange about this market.
Stock indices regardless of the 'times' usually follow reasonably predictable growth.
Sure there are the ups and downs, and its the ups everyone wants to catch and ride the wave, like the "Dot.com Bubble," but, for the most part there is a predictable 'trend' line that dominates most stock market growth.
I believe there needs to be a more in-depth reveiw of the global markets before any bail out is issued. There is something a little 'too fishy' about all this and it all points toward Paulson. Are we dealing with an grossly artifically inflated market, of which needs a major adjustment? Is there something 'W'rong about a global construction slow down? I believe the 'frenzy' that Paulson is 'salesman' to is more his concern for the wealthy and not the people that 'shore-up' any economy, labor.
For the USA to be placed in a position of carrying 'global debt,' what does that do in the long run to 'entitlements' and the prospects of 'retooling' the USA infrastructure into an 'Clean Energy' economy?
I don't like it. I don't like any of it. It's all too manipulated and Paulson's priorities are hidden among the frenzy.
It would be better if 'Cooler Heads' took over and it was NOT the USA Treasury that was administering any debt, but, an autonomous legislative bureau that answered directly to Congressional Oversight Committee.
Paulson is the wrong person to trust, he is the wrong way to go. Hank is a little too worried about watching his '14,000 DOW Baby' crash. There is something very wrong here and it hasn't got to do with anything except gross market manipulations that were engineered by a man determined to undermine everything he deemed undesireable about global finance. This is a 'prelude' to 'The Fiscal World According to Henry.'
The powers Paulson seeks are wrong to give to him, they need to be directed into an autonomous bureaucracy (hate the word of course, but, hey like Henry says, it better than the alternative). What you say we set up another office and ask Greenspan to head the entire recovery? I think that would be far safer than this mess, and Greenspan could answer to Congress rather than be dictated to by the Executive Branch, the very people that 'caused' this mess. Ask Alan who he wants at his side, bar none, including Europe, Australia, China, Brazil, Russia, etc. Let Greenspan have some real clout and get to the bottom of this disaster !
That sounds more reasonable with a far greater element of safety than to trust Bush and Paulson with a trillion $US. If Paulson and Bush didn't have the expertise to head this off BEFORE it was an emergency than they don't have it now. The global markets will keep faith IF the USA is acting prudently. Prudent steps will continue investor confidence and if anyone can make 'the right decisions' Alan can. There is still some room to play. We have seen drops of 500 and with a DOW over 10,000 that isn't nearly the crisis Paulson wants us to believe it is.
