I called my dad yesterday at about 3:30 PM ET. We caught up on things, and of course talked about the economy. He is a veteran watcher of the market. We watched Wall Street Week alot when I was young. Lately dad has kept CNBC on the TV almost constantly, to watch the carnage. So as we talked he watched CNBC and I went to CNBC.com and refreshed the page every so often. As we watched the Dow go down down down we talked and in a strange way bonded over the bad news. We both were urging the clock forward at 3:59 to stop the rout, and gasped in relief at 4 PM.
Now when I call him I greet him as a fellow comrade in the Socialist Republic of the United States. How much of the financial market can the US Government take over before we are technically in socialism?