Economics Update

Well, in terms of the stuff I put here, there was very little today. My guess is that everyone is waiting on Timothy "Eddie Haskell" Geithner's bank bailout plan.

We do have a rumor on the plan though, and it's that Geithner has dropped the federally funded bad bank, and instead any disposal of the financial dioxin out there will be handled by encouraging private money to drain the cesspool, which, when I last checked, was paying about 35¢ on the dollar for the top tranches of this.

Good luck with that.

He was supposed to release it today, but he put it off a day, which pushed the dollar down and it also pushed oil down, despite OPEC talking about more supply cuts.

I will post a bit about Nancy Pelosi's scary graph.