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Is the second rescue package vote in the US already doomed?

Despite putting itself forward as the saviour of the world it looks as though the second vote on the US rescue package may actually be a lot closer than many are suggesting. While many people are assuming that the vote will go in favour of the revised package there are already noises from the lower house suggesting that the changes have not gone far enough.

The next two hours will see some serious arm pulling and back door deals in the US as President Bush looks to seal a deal which will leave him as the peoples champion when he leaves office next year. Aside from this it is imperative that the US deal goes through so that other governments can start to release their own plans.

The US plan is vital to the stability of stock markets and economies around the world and without the US deal there would be limited success in smaller deals in other countries. We are literally on a knife edge between pulling back from the brink and dropping into what could be a serious and devastating depression such as that seen in the US in the 1930s - it is that serious.

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