Wall Street dropped by an alarming and surprising amount during trading Wednesday. The NASDAQ had the worst performance dropping 1.58 percent (35.16 points). The S&P 500 (1.28 percent, 13.89 points) and the Dow Jones (1.07 percent, 109.43 points) also suffered at the closing bell.

As quickly as stocks had fallen yesterday they turned around and drove back up the hill this morning. Wall Street was up well over 1 percent in the morning and investment was riding high.

According to MarketWatch, Federal Reserve chairman Ben Bernanke said Wednesday that the trajectory for the American economy was “unusually uncertain.” This should come as no surprise to anyone seeing as we have zero government policies in place to actually turn the recession. Yet, it was enough to send investors into free fall. Today, having had time to sleep off their paranoia, markets are riding high once again.

The rest of the economy is not so rosy.

According to CNNMoney.com, the United States Senate was finally able to pass an extension of unemployment benefits yesterday.

After more than two months of Republican blockades, the 2.5 million Americans who were offered up like lambs to the slaughter will get much-needed income assistance. This is only a tiny step in the right direction, but it is a necessary one. Unfortunately, Republican talking points on the unemployed continue to be laced with repugnant personal attacks and vilification.

It should be noted that the vote to extend unemployment only passed by a 59 to 39 margin. Democrats voted almost uniformly in favor of the measure, while Republicans voted almost uniformly against it. How this obstruction is meant to encourage voters to go with Republicans in 2010 and 2012 is still a mystery.

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