Ben Bernanke's weekend (again with the weekends) coordination of world-wide central bankers all lowering interest rates for banks and providing a federal guarantee on commercial paper has unlocked the cp market. Of course, it wasn't really "locked" so much as rates just went up. With Bernanke's Backstop (I just made that up!) the risk and rate for cp are now down, so hopefully (ha ha) our companies will all be able to make payroll this month.
Banker Ben - Man with a thankless job
Am I the only one who hears the begging of the question as to why so many US companies need to be able to sell commercial paper to make payroll?Oil Prediction Tracker - Almost to $80 well before November 1st.
What's a Copyright?
Meanwhile, mysterious Barack Hussein Castro Lenin "Benedict Arnold" Obama is scheduled to whip Johnny McCain's droopy white ass and become the 44th President of the United States. Let's hope so. At what point will our national stupidity be exceeded by our collective will to live?
But let's not count our chickens before they hatch. Republicans are a scrappy bunch, and continue to defy expectations. I don't think anybody in their wildest dreams thought they could possibly screw things up any more than they they had, but just look at us now! And it just keeps on coming! Looks like the "battleground states" will be Pennsylvania and Florida, the two oldest states by average age of their citizens. Those Florida contests are always fun to watch. And of course, the panhandle is Maverick Country.
We should be so lucky.
On to planning for next year . . .
