I think the Big Shitpile bailout deal has fallen through. Expect the worst day on Wall Street tomorrow that we’ve seen in a long while. Also, do not expect John McCain to show up in Mississippi. Today should have been a horrible day in the stock markets and would have been if not for irrational optimism about the prospects of a bailout. Tomorrow, I expect that optimism to turn to pessimism and then all the bad economic reports that came out today will get factored in. It should be ugly, and McCain will have no grounds to say that a deal has been reached or that it is imminent.
Deal Falls Through?
