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If someone tells you they know how to get us out of this financial crisis slowly walk away from that person.  Treasury Secretary Henry Paulson, Federal Reserve chairman Ben Bernanke and SEC chairman Chris Cox are pulling out all the stops but government alone cannot restore consumer confidence or convince the banks to start lending.

  Our financial problems started a worldwide financial crisis with each country having their own plan without coordinating a unified plan of action with their neighbors.  Since we aren't spending, we have lowered our trade deficit. The British has announced a plan to provide $500 billion of capital to their banks with guarantees for all their financial transactions.  Secretary Paulsen has hinted that he is open to that plan....Don't ask me where he is going to get the money.

Since Wall Street is not four men making decisions in a back room, the bailout was not intended for them, but if done right, they will prosper.  The $700 bailout is supposed to be a long-range strategy that will not work unless consumer confidence is restored. The economy needs to fall, rise, and stabilize without government intervention before the housing market will raise enough to even think about making the gain on the sale of the questionable mortgages. 

Now the financial geniuses are telling us not to watch the DOW, because it's just a snapshot of how the economy is performing. They are telling us that this is a credit crisis, so if you are buying a new car don't expect to get a good deal, and watch those late fees on your credit cards.

Looks like the market will close on a positive,perhaps it's because of an upcoming G7 Summit....Nope,in about 15 minutes it fell to -128.00

This morning the president said “anxiety can feed anxiety,”…Take heed.