Monday, October 06, 2008

New Day 

With the passage and signing of the bailout (Pardon me. Rescue) bill, the US economy has entered a new day. I'm no economist nor a prognosticator of markets, but the lack of faith shown in the economy in the last three weeks was so great, it is hard to believe that the indexes will roar back. It takes time to rebuild confidence once it is lost. It sure seems to me that we are in a period of muddling when traders will stand back as financial concerns feel their way through. Call it a recession or what you will, but as a PR person, it is a lesson in credibility. When people stop believing, there is little one can do until time and activity rebuild it.

I'm no political pundit either, but this period would seem to favor Democrats far more than Republicans. John McCain already is concerned. He should be.


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