Hank Paulson’s bailout bill is in the dustbin thanks to the 94 Democrats and 133 Republicans in Congress who voted against it.Congressman Ron Paul (Rep.) pretty much summed it up in his speech before the doomed bailout bill.

He put the blame for the current crisis firmly on the shoulders of the “managed economy,” “an inflationary system,” “corporatism” and “a special interest system.”

He also warned that promoting more and more US government intervention would have “disastrous” consequences for the global economy and the US dollar.

See for yourself…

Traders remain nervous today despite approval from Congress on the final draft of Hank Paulson’s bank rescue bill. European stocks are heading towards three-week lows. US futures are down. Floyd Brown at Investment U says this is distracting from the long-term picture, and some great bargains, for contrarian investor.

“Maybe the Sky IS Falling” it says on the cover of the current issue of Fortune. “The Great American Slowdown” is on the cover of this week’s Economist. It is true. Times are bad.

Contrarian Investing Approach

When the moment is right, will you be ready? A lot of men are about to be. Any time. Any day. Every day, in fact. That’s because the Food & Drug Administration is expected to grant Eli Lilly (NYSE: LLY) approval for a daily version of its erectile disfunction drug, Cialis. This comes after the European Commission approved it in June.

Okay, first things first: Who the heck are these guys married to? Seems to me they have lofty and unreasonable expectations!

But it’s not just in the boudoir where expectations are high. The stock market lives on expectations. And at this time of year, many of them are unreasonable, too. For investors like us, it means we have to…