They said the DOW rose today above 9000 because of a 3 month rise in home sales and companies doing better then expected. For all the Republicans whom don’t approve of President Obama can you atleast concede he’s apparently doing something right? All I’m saying is that going into this presidency we knew economic recovery was going to be a long, hard process and now it seems like everyday you hear from Republicans talking like President Obama was supposed to fix the economy overnight. They also complain about the spending we need to do to fix the economy, but weren’t complaining when President Bush was spending nearly a trillion dollars on defense and his original $700 billion dollar corporate bailout when the economy first started tanking. I just wish I knew the logic behind it.
The stock market is rising on better than expected quarterly earnings. People are saying: ":Wow! the company made money (or didn’t lose as much as I expected). Lets buy stock!":
The thing that concerns me is that much of this earnings improvements came from cost cutting and one-time financial events. Look at Ford for example. The posted a profit that was based on cost cutting and some financial transactions – but not on increased sales of cars.
As a result Ford will have a very difficult time repeating this feat next quarter.
And they are not the only company whose earning are not coming from ‘Net Income From Continuing Operations.’ Until this number turns black the recession will continue.
Jobs are still being lost at an extremely high rate. Why are we celerbrating again?
Don’t let it fool you….there’s that trillions of debt that SOMEONE will have to pay for, namely us and future generations.
When it hit 13000 like it was when he took office than there is time for rejoice.