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cropsey, il 61731 | That's what it 'seemed' like to me. The Dow going up for apparently no reason (markwright would suggest earnings, but it doesn't appear widespread). I think the hope is the news cycle will report happy days are here again and we all go out and buy chevys. The DJ seems to rotate quite a bit lately - is it just an indicator how much fast food we eat (seems more heavily service loaded than manufacturing - maybe we're lucky boeing and CAT still make the list).
Back when Bush took over he had a bit of a ressession to work with (partially in response to Clinton tax hikes) and he cut taxes on people making money and paying taxes. The improvement started slow (as usual), but jobs in lots of different areas started coming available pretty quickly to the point we were close to full employment. Apparently good enough jobs that folks could buy multiple houses and then the policys that were hopefully designed to 'prime the pump' for home ownership, dynamited it instead. Economic recoverys seem to work better if there is money coming from more places than just the government. I compare it to the days of $2 corn when we compared the fairly sizeable gov't subsidy being dwarfed by just a 25 cent move up in price.
Thanks,
Pat | |
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DOW CHART BEWARE
