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It looks like the congressional leaders have finalized a $700 Billion bail out package to rescue the U.S. economy. The largest financial bailout in U.S. history looks to be supported by both presidential candidates and is expected to be voted on by the House on Monday. The government is expected to receive warrents in companies that take advantage of the bailout package.
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The flooding in the midwest has flooded over 1 million acres of farmland. While this will raise prices for corn and soybeans that will help farmers not in the flooded areas, it will increase feed prices for cows, pigs, and chickens, further raising prices for beef, pork, milk, chicken, and eggs. The increased prices will continue to increase inflation which is going to give the Fed Chairmen more issues as they will have to debate keeping interest rates low to try and help increase the economy or increasing interest rates to try and fight off inflation which is being fueled by the low dollar, high oil prices, and high corn prices.
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Sirius satellite radio and XM satellite radio’s stocks both rose today as it looks like the merger might get approval. The FCC Chief Kevin Martin is recommending approval for the $3.8 billion dollar merger. There is still uncertainty as many of the commissioners have not openly discussed how they feel and plan to vote on the issue.
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