So numbers 50% and 100% higher than expected are now cause for a "relief
rally". What, us worry? They say in a bull market, stocks rally on bad
news and in a bear market they tank on good news. Well, guess which we
now have. And what's so great that stock prices need to go higher? One
month, maybe 2 in a row of decent employment numbers? A "recovery"
that's now getting pretty darned long in the tooth (believe it or not,
it's 3 years old)? Massive pump priming (i.e. tax cuts and record low
interest rates) that has pretty much uwed up its effectiveness? Out of
control budget and trade balance deficits? A war costing hundreds of
The one bit of honest good news I can see is the possibility that we may
finally be about to do something about our silly tort law that allows
whole industries to be shut down (and all their employees put out of
work and their stockholders'--none of whom did anything
wrong--investments vaporized). But even that is still just a growing
possibility--not a certainty.
"Bernard Thomas" <bsth...@nospamix.netcom.com> wrote in message news:%23KO9PzO...@TK2MSFTNGP11.phx.gbl...