The US Senate passed the bailout bill 74-25, but the market was not impressed. Traders speculate that it’s too little too late and we’re already in a deep recession. Investor cash flows have nearly completed halted. Foreign debt buyers seem to be pressuring the US government to push this deal through for their own interests. US retailers fear the worst Christmas season in three decades.
GE is down as their capital raising efforts are diluting existing shareholders. US equity index futures are down about 1% across the board. Commodities and other currencies also losing ground against the dollar. Is this deflation because of massive debt destruction?
