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An auto bailout ain't happening now.
But another stock market selloff is.
Stocks swooning amid Washington fidgeting.
It's not that the investors are pro-rescue as, I suspect, they're anti-indecision.
And they've decided that Washington can't decide on anything.
Punting on a turkey that might suit Congress better "after" Thanksgiving.
...but no guarantees auto makers will be feasting on that turkey before Christmas.
Why does this stuff keep happening?
Financial rescues that will certainly work.
Then they don't.
Auto rescues that will most certainly get done.
Then they don't.
So investors sell.
And sell some more.
And keep selling.
Because when you don't know what's going on, why stay in something going down?
Why take stock, when you can just sell stock?
Why be certain of anything?
Oil can't go any lower, then suddenly it can.
Citigroup would never sell for less than 10 bucks...today...less than five.
Japan's seven percent weekly selloffs are over...until it got hit with a seven percent sell off...today.
The Swiss are the jewel of Europe and will show the way...who knew it would be a full point cut in interest rates because even the Swiss can't get out of harm's way.
I could go on...
About an Obama tax hike on upper incomes that might take a hike...or maybe it won't.
Or an Obama stimulus package that won't be huge but suddenly it might.
No wonder so many are so confused and so worried.
My friends, this isn't about markets abhorring uncertainty...it's about investors certain that'll never change.
Here then, is the deal.
No deal. No closure. No certainty. No quick rescue that seems to work. No quick bailout that seems to click.
So buyers don't click, stocks don't click, economic numbers don't click.
"We" don't click.
What ails us isn't the uncertainty over how long this drags on...but our certainty that it likely will...for a while.
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