Dow Jones industrial average futures rose 200, or 1.91 percent, to 10,674 after falling more than 777 points, or 6.98 percent, Monday. It was the blue chips' largest point drop and 17th largest percentage drop.
The market is trying to correct the value of the dollar because the fed won't. We need to pressure our leaders to pull excess dollars out of circulation and get interest rates rising again. Just like Dad teaching us to ride a bike, the training wheels need to come off and he needs to let go. When we fall, it's ok, as long as we get back up and try again. We learn nothing if he won't let go.
On a related note, I wrote the following comment on "A Little Creative License" yesterday:
----------------It seems to me it's quite a bit like tough love. I would imagine as a leader (government or otherwise) it is hard to watch the economy in rough patches and not act to "fix" it.
Herbert Hoover is a perfect example. He knew that nonintervention was the best policy. But as things failed to recover and he watched his approval rating plummet he was pressured to act. Since recovery can take longer than we might like, things did not turn around before the next election. His opponents seized upon his apparent "failure" claiming he did too little too late. As we know, despite (or because of, I would say) FDR's "New Deal" policies, things got much worse.
If only Hoover had the courage of his convictions (and also been re-elected) we might never have heard the term Great Depression.
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