hahaha, I love it!
Markets are expected to surge today on hopes that Obama's stimulus package will be enough to turn around such a huge crisis in the markets! I LOVE the logic though, anytime borrowing/printing ANOTHER Trillion (or so) dollars to continue socializing the entire American economy is considered market stimulus I can't help but laugh!
In other news:
http://news.yahoo.com/s/ap/20081208/...mical_job_cuts
Quote:
Dow Chemical Co. said Monday it will slash 5,000 full-time jobs — about 11 percent of its total work force — close 20 plants and sell several businesses to reign in costs amid the economic recession.
The company, one of the largest chemical makers in the world, expects the moves to save about $700 million per year by 2010. Dow also will temporarily idle 180 plants and prune 6,000 contractors from its payroll.
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So the market is expected to go up because while real companies who sell real products to real customers are laying of tens of thousands and are in varying degrees of crisis the already bankrupt government will be hiring a bunch of road crews with yet more borrow/printed money?? lol
Claeren.