I think my graduation today has tilted the axis of the world slightly. Check this out (from Bloomberg). The Dow Jones is currently over 8500, and at the same time:
New US unemployed last month were officially at 539,000 ("better than expected"):
Ford begs loans from the Dept of Energy, that's Ford of "we don't need no stinkin' loans " fame:
The stress tested banks officially need "only" 75 gazillion more to continue as zombies:
Pakistan is officially immolating itself one last time against the Taliban in the Swat Valley:
Umm, what would the Stock Market do on a good news day?
2 comments:
Hooray! You rule the world!
Dear Sir:
There is some perverse table that cites how unemployment is directly beneficial to the stock market... And I am surprised that the stress test for the banking community didn't cause a few more of these institutions to clutch their chests and keel over.
There was a report last week that fewer high school and college kids will find seasonal jobs this summer, as many resort areas are dealing with smaller crowds, and that places like Burger King and MacDonalds have a choice of older, more seasoned candidates, who are less likely to take days off, pilfer, or jerk around.
We have still to see the bottom of the economic tailspin.
Fondest regards,
Jack Riepe
Twisted Roads
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