EMC’s Business Finance blog

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Media reports are casting President Bush’s televised address last night as both a warning to the nation on the severity of the financial crisis and an attempt to push Congress into passing his proposed bailout. A number of the stories remark on Bush’s stark warnings about the health of the economy.

It is truly sad that the United States is falling into crisis. However, people should not be in panic for the United States will fix the problem.

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Crude-oil futures leaped more than $16 a barrel Monday to score their biggest one-day gain in dollar terms since 1984 — when crude began trading on the New York Mercantile Exchange.
Crude futures rallied Monday to a high of $130 a barrel — their highest intraday level in two months — buoyed by a steep drop in the U.S. dollar and speculation that the Bush administration’s proposal to stabilize the financial sector might help revive economic growth.

I couldn’t believe that it happened too fast. The stock market has shaken and the oil went up. Will it go to $140 a barrel again? I don’t know.

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It is likely that US is going down. The subprime mortgage actually destroyed their financial status as many financial institutions are being bankrupt.

The stability of the United States financially  cannot be assured. I hope that they will soon survive.