A Whole lot of Nothing.

As the saying goes, “no news, is good news.” Sadly, this doesn’t really apply to what happened today in the United States. Instead of receiving no news, what we got was a whole lot of news that really didn’t tell us much. What do I mean by that?

First, we received news that the Senate voted and approved an $838 billion economic stimulus package. Yippy skippy. The only problem is that the Senate approved stimulus plan is different from the House approved stimulus plan. Because of this, we still don’t know what the bill will look like once President Obama signs it into law. In other words, nothing has changed on this front, yet…

Secondly, Treasury Secretary Geithner came out today and announced the “details” of a $2 trillion dollar rescue plan. While he outlined the plan, he neglected to provide the details of how things would really work. The result of this was somewhat reminiscent of when we first heard about The Bailout (i.e. very few details at first) and the markets did not react favorably.

So despite all of this news, we are pretty much left with knowing as much as we did a week ago. As a result, the stock markets are pretty much back to where they were, a week ago (i.e. the DJIA was down 381.99 points and closed at 7,888.88).

Really, the only point of today’s news(and this post for that matter) is to report that eventually, we are going to hear something, at which point I’ll hopefully write something about the US Economy again.

-dunkie