Wednesday, October 14, 2009

A banner day for the stockmarket

Today as I was driving the voices on my talkradio box broke into the regularly scheduled program to announce that the DOW had just peaked above 10,000.


Except that not 3 minutes later they had sound bites from various economists about what this meant. Now, for my local station to get all the way from Midwest US to NY and DC and back with interviews and everything...

It makes me think that this little market spike was orchestrated by the news-idjits to give them something positive to report.

It doesn't really matter that the Dow barely topped 10,000 and then immediately dropped back down. It doesn't matter that if you had blinked you would have missed the 10,000. What matters is that THEY say something good happened.

Okay, I'm no economist, I don't play one on TV and I didn't stay at a HIExpress hotel last night. But it seems to me that for there to be a REAL recovery in our economy, the job loss rate needs to turn into a job creation rate. So long as more people are losing jobs then are getting them, no amount of pie in the sky happy unicorn rainbow farts are going to turn the economy around.

Just my two cents.

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