The Capital for 11/19/08- Brutal: US Shares Hit Five Year Low

Photo chart from BBC.com

I thought the bailout was going to solve everything in at least the financial sector, huh Henry Paulson and Ben Bernake, huh, HUH?

Wall Street plunged more than 5% on Wednesday to its lowest level in over five years on rising economic worries.

October consumer prices fell 1% on the month before - the biggest such fall in 61 years, which has reinforced fears of rapid slowdown.

Adding to the gloom, the US Federal Reserve slashed its economic growth forecasts for 2009.

And what are those pre-year numbers looking like heading into joyous, HAPPY, Holiday time?

The Fed is expected to cut its key interest rate to 0.5% in December - it cut rates twice in October to 1%.

Do you see that chart at the top. Lovely, isn't it?

I thought that chart wasn't going to be the case, or at least that was suppose to be the case of a $700 billion bailout of tax payers money to take on those troubled assets. Instead, we get the same dishonest time and time again.

The Dow hit a five year low today. Even more ominous for all of us, is how lower the standards of this country's supposed economic leaders are practicing.