Last week in Tampa, while Republicans put down America and debated how to monitor the use of contraceptives, stock prices fell.
The Democrat Convention in North Carolina was something else.
Beginning with Michelle's powerful speech on Monday, there was no letup. Speaker after speaker drew thunderous applause with speeches that aroused America with new hope and excitement. There was never a dull moment and emotions ran deep--especially when Gifford gave the Pledge of Allegiance.
(Gifford was shot in the head by a Bagger fanatic after Rush Limbaugh put billboards in her state prominently featuring "bullet holes" in the display, and Sarah Palin distributed pamphlets putting Gifford under a "sniper scope.")
Presentations were so exceptional and emotional, no one thought Obama, even with his gift as a communicator, could do better--until he did.
And now the market is respnding. Stock prices are soaring with gaps to the upside. Capitalists everywhere are demanding, "Give us Obama!"
The markets are up because the thought is that the FEDS will do an influx of cash due to the horrible financial report - abysmal number of new jobs, unemployment is down due to over 300K leaving the job market!
"markets are up because the thought is that the FEDS will do an influx of cash"
I think the Fed will do just that. But that is old news.
What is new news is the disappointment in number of new jobs in this morning's jobs report.
Normally, today's jobs report would have brought the market down (for a brief time). But it didn't.
Because market future were very strong leading up to the jobs report, it seems reasonable to attribute today's market resiliance to events at the DNC. (The S&P has gapped up on the open both yesterday and today.)
Yesterday and today we saw a market celebrating speeches at the DNC in South Carolina.
Also, you are over-reacting to today's job numbers.
The unemployment rate is down--not up. The number of jobless Americans is down--not up. Housing is beginning to pick up. (Housing is traditionally an early indicator of an economic turnaround.) And manufacturing is strong--especially autos (another early indicator of an upturn in the economy).
You really should check your meds before you take them. You have OD'ed on the happy pills again.
The market is going up on the anticipation of more QE. QE is a response to the world wide slowdown. We may be pulling growth forward by a few basis points, but will pay later in the form of inflation and higher interest rates.
The net effect is sub-par growth in the developed Socialist economies for years to come.
Tell the young people graduating from college why your ideological President can't produce jobs in their fields. Heck, the economy is so weak that MCD isn't even hiring burger flippers.
MCD is a buy on weakness. It has tremendous purchasing power and will squeeze suppliers. MCD should gain share throughout the global recession. I also own YUM, which is slightly more risky, but has a better growth rate than MCD.
Before you get carried away with how great the market is doing, perhaps you should learn how to factor in the imputed rate of inflation that results from Socialist money printing (also known as fraud and theft). Here's a clue: The price of Gold as adjusted for inflation expectations is flat.
Adjust the stock market prices for the rise in gold prices and then tell me how great we're doing.