The Political Bear

Published by bear

The stock market is up and the economy is doing better, yet the first round of stimulus checks have just begum being deposited into peoples bank accounts. However, as noted by the AP- Jobs are up, stocks are up, and investors are now less weary.

Wall Street is up sharply in early trading after the government said the nation’s employers cut fewer jobs last month investors expected.

The market, which soared Thursday on renewed optimism about the economy, was pleasantly surprised when the Labor Department said only 20,000 jobs were lost in April.

In the first minutes of trading, the Dow Jones industrial average is up 107 points at the 13,117 level.

The moral of the story: Elected officials like bribing voters even if it doesn’t do any good. My bet is that the second round of stimulus legislation will still pass, at least, the House if it doesn’t just get the full red carpet treatment, like the first one.

I am not complaining to much though. I like my check and it does equal lower taxes, but it is still a very inefficient way to lower the tax burden.

May 02, 2008
Filed under: analysis, economy, Stimulus, taxes