While the congress rejected the bail out bill (barely), they did not, however, pass a bill that states that there would be no more proposition to bail out the investment banks, ie - Wall Street.

A likely scenario is that they will keep the PPT (plunge protection team) on a leash and let the market slide a bit more like it did Monday on the news of no passing of the bill.

Once the dire predictions from the establishment are realized, the congress will cave in and since there are now less pressure from the public (after losing another 10-15% of their nest egg) - they will pass this “Trillion-Dollar-Baby” like it was a walk in a park.

Is the “October Surprise” DOW declining by 1,000 points? We shall see.

No matter what the congress does it is not good for an average American - would you rather add 10% additional percent to the national debt and therefore probably devalue dollar a bit more or lose 10-15% of your 401(k), IRA, etc.?

HOW ABOUT BOTH?! Not a pleasant but a likely scenario.

When I talked to Rob the other day on his thoughts about the new “new deal” he mentioned how S&P500 was at 800 at the end of 2002 recession and we didn’t have the problems we are facing today.

Considering the market is currently at 1,200 ish - you do the math on how much more room we’ve got on the downside - 35%+!!!

I have been preaching for almost 2 years now to get supply of gold, silver and stored food - cheap insurance considering the circumstances.