He picks his team, he is describing further bailouts and more money printing, we assume, to cover it. All of this is to influence the emotional state of the financiers which at present is pure confident fear.
It looks like the market might open higher, when Obama announces his economic team maybe we get another rally. This is all about trying to hold back the flood waters and jumping all over the place at the speed of light to fix the massively damaged levee.
Its nice in a way because up to this point, its only been about a steady state of pessimism in addition to Bush being virtually useless, so the ship is going nowhere.
Obama is trying to create an energy field, a virtual new deal. Its good, the mood changes a little bit, a little positive thinking, why not.
Here's the thing, they want a 200 to 500 point gain on the day they roll out the blue team. Its going to look pretty depressing otherwise. Will it happen? Yes
Reuters: Stock index futures open higher
Stock index futures opened higher Sunday night in New York, building on Friday's rally, with U.S. President-elect Barack Obama expected to announce his economic team on Monday.
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