Da Bears Are Back

After a major rally on Monday, stocks gave back most of those gains today as plunging retail sales and a Federal Reserve report showing the economy sliding into a recession caused the Dow Jones to plummet by 733 points.

Interestingly enough, the massive federal bailout which was approved earlier this month – you know, the one that was supposed to “rescue” us from all this – appears to have helped only those it was designed to help.

Not shockingly, it’s doing absolutely nothing to help ordinary Americans who are facing static wages, a deteriorating job market and plunging consumer confidence. Oh, and over $700 billion in new federal debt so that bureaucrats and bank execs are spared from the slide the rest of us are experiencing.

Check out this quote from one Wall Street analyst:

Even though the banking sector may be returning to normal, the economy still isn’t. The economy continues to face a host of other problems. We’re in for a tough ride.

Well damn. It’s nice to know the banking sector has returned to normal. At least things are hunky dory again over at Bushwood.

Oh, and lest we forget, the latest “economic stimulus” plan proposed by the U.S. Congress is to give bureaucrats $150 billion more because God forbid any government employee go without a friggin’ pay raise during these difficult times.