Two friends over the weekend made suggestions to help in the financial crisis.
JP Morgan is alleged to have stepped up to the plate and broke the Great Depression cycle by announcing his purchase of stock.
I don't know if it is true.
However,I recently read an article on all the billionaires in the US.Suppose the President invited them to the White House for a summit,and they would announce that each of them to show support for our economy etc., was purchasing significant amounts of stock.With stocks at bargain basement prices,they surely would come out ok,but most importantlly send a clear message to Main St.
My second friend who is in the oil business,suggested that as oil prices fall,this would be a great time for the US Govt.,to sign exclusive contracts with oil producers at a low rate,and then resell it to local companies.He believes with lowered world demand producers would fight for the contracts.We could freeze Russia, Venezuela etc.out of the picturee,and help our balance of trade and inflation.
I have no idea if these are rational approaches, but American brainpower should not be neglected.
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While it looks grim for McCain.if somehow the market shoots up and the debate shows the true McCain, it is not beyond possibility of a victory.I can not think rationally of an Obama-Pelosi-Reid victory with a filibuster proof Senate-SAVE ME!
