Main Street may be struggling, but Wall Street is on a bit of a roll.
Despite a drumbeat of bad economic news, the stock market is up -- almost 11 percent in the last few weeks. Junk bonds, those risky corporate I.O.U.'s, are rallying. The value of financial shares, bank loans, tricky credit derivatives -- up, up, up.
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Funny, a couple days of sunshine, and everyone on Wall Street pretends it will never rain again.
What a bunch of morons. Rich morons, but morons.
Street of cards.
Times are getting better. The current gloom and doom media loves to tell you how bad things are.
But, inflation is been kept in check. Non-farm payrolls are rising. Housing has stabilized, and is going back up. Consumer debt has been largely stabilized and paid down. Inventories are shrinking, oil going back down. Dollar gaining strength. Wages are taking off again.
I don't want to make light of the very temporary soft patch in housing. This should turn around by June at the latest. This is how tax cuts work, we just need to make them permanent now.
Tax cuts = endless prosperity for all.
God bless America.
You realize that food, energy and health costs are no longer calculated as a part of inflation... don't you?
If you can't see that your own personal food and gas costs has gone up higher in the last year, than the government reported rates for inflation, you're a complete and utter fool.
Starting to see signs of a turnaround - hmm - the DOW has gone between 12000 and 13000 for awhile now - history says in an election season we'll see a bump. So it should go above 13000 until the election then it could just collapse - depends on oil money mainly and bank liquidity. Inflation is really a problem already if you consider oil prices. Household debt is ridiculous. Mortgage meltdown is just starting. Next president should consider major economic adjustments to avoid depression.
"So it should go above 13000 until the election then it could just collapse "
Well you can always hope so can't you.
Household debt is ridiculous? Well yes, yes it is. But take a look at the demographics of those with the debts and you'll notice it's coming of age folks that were raised in liberal homes and as well programmed liberals figure they should have it all without having to pay.
No sympathy here.
There is little technical support for a rally other than it is an election year.
"But take a look at the demographics of those with the debts and you'll notice it's coming of age folks that were raised in liberal homes and as well programmed liberals"
I would definitely like to see the demographics that define "well programmed liberals".
Did it ever occur to you that poor people were poor before they were liberals? Didn't think so.
Wallstreet turnaround? Yeh, just wait till all the billions from federal bailouts run the course and the Fed can't drop interest rates any lower... and another million more jobs are lost in the coming months...
Wallstreet's turning around alright, turning the screw deeper into the American working people.
I have to pay more for everything.
So Wall Street empties our wallets means a robust economy.
Nice try BigLib.
(what a joke username).
Bad news for Libs who have been screaming "worst economy since HOOVER!" for seven years.
Today was a fine day for Wall Street, for America, and for me.
Nice try. Maybe for you and Wall Street.
America hasn't had a nice day in over five years. The war? Remember?
America hasn't had over 3000 civilians killed in a single day in almost 7 years.
9/11? Remember?
So, what you're saying is as long as the market's up, then America is having a good day even if terrorists take down the World Trade Center?
You neocons are a real piece of work.
Real meaning of turnaround, is spin!
And yet when a downturn is reported it's taken by you doom mongers as the gospel.
Things that make you go hmmmm.
Economists know that what the stock market does on one day has no connection with what is coming down the road in the future. There are storm clouds gathering. Here is a fourth danger that Dennis J. Snower, President of Kiel Institute for World Economics, writes about in his blog:
"And that leaves the fourth (and possibly the nastiest) of the dangers, one that concerns the latitude for monetary policy intervention. As the Fed reduces interest rates to combat the crisis, the dollar is falling. This is leading to higher import prices and oil prices in the United States, putting upward pressure on inflation. The greater this inflationary pressure " which is currently in excess of 4 percent " the more difficult it will be for the Fed to reduce interest rates in the future, without running a serious risk of inflaming inflationary expectations and starting a wage-price spiral. U.S. firms and households will gradually recognise this dilemma and the bleak prospect of little future interest rate relief will further dampen consumption and investment spending." http://www.VoxEU.org/index.php?q=node/1095
I'd be happy to help a few people in the Wall St. biz toss themselves out the windows. At some point, our supine press might actually realize that the fortunes of people in the Wall St. biz have very little to do with the fortunes of average Americans. I'm actually starting to wonder if the relationship is inversely proportionate.
Actually many average Ameriacns own stock and the stock market is a very important part of the American economy. I think you'll find the last time the market crashed in 1929, the country was thrusted into a depression.
And yet when the headline is about hard times on Wall st. the huffkids are screaming about the impending doom for all.
Go figure.
And yet when Wall St. gets a bail out and doesn't face impending doom but regular Americans do, "huffkids" are quick to notice that it's business as usual.
Go figure.
Food for thought, written by Jack Bernstein back in 1985...
http://www.jackbernstein.org/
If Israel as it now exists simply collapsed and ceased to exist, the world would certainly be better because of it. Unfortunately the New York/Moscow/Tel Aviv Triangle will not allow Israel to die quietly. As the collapse of Israel draws near, one of two courses of action by the New York/Moscow/Tel Aviv Triangle is likely to be taken:
1. Israel could trigger a large scale Mideast war, a large war which Israel could not win alone. Then the New York leg of the New York/Moscow/Tel Aviv Triangle would use its influence on the U.S. Government to send U.S. military forces to aid Israel.
-----
At some point during the war, when the U.S. military is deeply involved and the U.S. citizens demoralized, the Zionist oriented Jewish International Bankers will make their move. Evidence leads to the conclusion that it is these bankers who own the Class A Stock of the U.S. Federal Reserve, America's central bank. In this position of power, these Zionist bankers, can, and likely will, trigger an economic collapse in America " like they did in 1929 when they caused the stock market crash and started the severe depression of the 1930's.
Thanks for the update, Rev. Wright.
Yeah, it's MY fault that predictions made 23 years ago seem to be coming true.
Keep your head in the sand. You look better that way.
"The struggle for world domination will be fought entirely between us, between Germans and Jews. All else is facade and illusion. Behind England stands Israel, and behind France, and behind the United States. Even when we have driven the Jew out of Germany, he remains our world enemy."
and
"Make the lie big, make it simple, keep saying it, and eventually they will believe it"
-Adolf Hitler
There is a strange air of similarity between your original post quoting Bernstein (whom you seem to agree with), your conspiracy theory, and these quotes from the master Jew hater. I hope that it is coincidental.
By the way, the great depression contributed to the rise of Hitler and the resultant holocaust. Why would the Israelis (aka Jews) want another depression? Your logic is flawed.
Wow.
Bad news for America headline and the huffkids are giddy with glee and piling on.
Good news for America headline and the huffkids are indignant and peeved.
Just, wow.
Wall Street ain't America. Wow.
So the huffkids won't be peeing their panties about the end of America next time stocks dip?
You'd lose that bet son.
So Wall Street won't be whining crybabies when they lose their asses trying to drive America off the cliff with their perverse greed?
You'd lose that bet, sweetie.
I don't cheer for bad news - quite the contrary, in fact.
I also know that in every secular bear market you will see bull rallies.
It's the nature of the market.
"The central bank further restored order in the markets by lending directly to investment banks, assuring that big securities firms could not be undone by a crisis of confidence."
Anybody care to venture a guess what this means? Sort of sounds like the really rich people were paid off. God forbid the "big securities firms" would have to suffer the effects of a recession like the rest of us.
What a load of crap. Who gives a damn about Wall Street when the rest of us can't afford a box of cookies.
Try showing some initiative, just a little would be enough to buy a box of cookies on your own, just like the vast majority.
Love the signage pic. Looks like a ship that's going down.
Yeah, somebody had better count the silverware...
Must be a result of Hillary's gas tax plan!
So what? There is one Wall Street and 5,000 Main Streets. On Main Street people are cold and hungry. Or just worried and hanging by their fingernails to a lifestyle they can't maintain without fundamental changes in Washington.
Great - and I guess Wall Street will just look at us common folks and laugh at us poor "smucks"!!
Yeah, every time the Fed gives them more FREE MONEY, they see things "turning around"... for a day or so.
Don't believe the hype.......
Who reported this load of BS?
New York Times | VIKAS BAJAJ | May 1, 2008 09:38 PM