Thursday, July 28, 2011
Stock Market Comedy
Much hair pulling and shirt rending over the stock market "plunge" of the past two days, a whopping and hair raising 2% drop, attributed to the "debt crisis" in Washington. Today we read that new unemployment claims were below 400,000, not by much, but below that magic number, and the stock market no longer cares about the "debt crisis," which has not changed, and is buoyed by a "rising economy" and is up today. Sheesh.
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Stocks are rising. Gas prices are rising, perhaps slightly. Blood pressures and worries are rising. Media hoopla is rising. The BS meter is rising. The economy? Not so much. Don't worry, it's be down next week on August 1st and the stock market will fall yet again and the breast beating and cries of despair and finger pointing will begin anew.
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