January 31, 2008
-- by Dave Johnson
Do these headlines have anything to do with each other? U.S. first-time jobless claims rocket higher in latest week, U.S. Economy: Consumer Spending Slows, and finally, U.S. Stocks Rise.
For Wall Street everything, everything, everything is about the Federal Reserve bailing them out with interest rate cuts. So the worse the economic news, the more they expect the Fed to cut rates, and stocks go higher. Seriously, just listen to the talking heads on CNBC or the other networks - everything, everything is about what the Fed will do and about what the dealmaking companies will do and not about how well WE - you and I - are doing.
Just who IS our economy for, anyway?
Posted by Dave Johnson at January 31, 2008 12:50 PM
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