The 700 billion dollar financial bail out bill was voted down by Congress on monday.  The stock market lost 777 points wiping out 1.2 trillion dollars.

Then the price of oil dropped 10 dollars a barrel — the dollar rose 5 percent against the pound — the price of crops, metals and other commodities have begun to fall.

WAIT A MINUTE — I’M CONFUSED!

Some of those things don’t sound so bad —  like the dollar going up in value and the price of oil falling… The stock market plunging may not be good some investors but so far — the world hasn’t come to a screeching halt either.  Maybe we’re seeing the artificially high stock prices going through a little bit of a correction.

Wasn’t it just a few days ago we were told we had to immediately throw 700 billion dollars at the financial system or we were going to have a global meltdown?

Well, it didn’t happen — where’s the meltdown?

Maybe the house of cards has to correct itself without government interference.  At least that’s what the majority of the voters feel and they let their Congress men and women know about it.  Maybe it’s just some fat that has to melt.

So the question is — how much can you believe?

Who knows,  maybe in the next couple of days the world is going to go to hell and everything I’ve written here will be an exercise in futility.

I don’t know about you but I think the government isn’t  telling us everything.  One way or another, it’s going to be a very interesting October.  Frankly it was good to see the Congress back away from walking in lock step with the Administration and the leadership of both parties — and paying attention to the voters.

Maybe a little correction and a few losses will allow the financial system to find it’s own level.  Only time will tell.

But just in case:  Stock up on non perishable food and drinking water. 

Oh, and if you happen to be in town stop by your bank and withdraw some “emergency cash”.

Then call your Congressman or Congresswoman and let him or her know how you feel about this financial crisis.

You know, just in case — they’re actually listening.

-Bob Baran