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Title: Dow jumps 190 on jobs data, lower oil
Source: CNN
URL Source: http://money.cnn.com/2011/03/03/mar ... york/index.htm?hpt=T1&iref=BN1
Published: Mar 3, 2011
Author: CNN
Post Date: 2011-03-03 16:55:39 by go65
Keywords: None
Views: 3847
Comments: 16

NEW YORK (CNNMoney) -- U.S. stocks posted their best day in three months on Thursday as Wall Street rallied behind a strong unemployment claims report along with a modest drop in energy prices.

At the preliminary close, the Dow Jones industrial average (INDU) rose 191 points, or 1.6%, to 12,258. The gains were the best for the blue-chip indicator in 2011 and the largest since Dec. 1.

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Begin Trace Mode for Comment # 5.

#1. To: go65 (#0)

I've said this several times -- the November election was like flipping a light switch. We serve enterprise customers. We went from almost no new business to 30+ unsolicited calls a week. Overnight. The calls are still coming in.

If the GOP fails to cut spending and reduce the annual deficit, this will all come crashing down on top of us all.

jwpegler  posted on  2011-03-03   19:28:45 ET  Reply   Untrace   Trace   Private Reply  


#3. To: jwpegler (#1) (Edited)

I've said this several times -- the November election was like flipping a light switch. We serve enterprise customers. We went from almost no new business to 30+ unsolicited calls a week. Overnight. The calls are still coming in.

We had our strongest year ever in 2010, but are being really cautious this year. If the GOP gets their cuts it will shave 1-2% off of GDP according to both Moody's and Goldman's research arms.

Remember something, a growing economy helps Obama come 2012. A double-dip recession helps the Republicans. The GOP Congress will do all it can to sink the economy between now and next November.

go65  posted on  2011-03-03   22:24:16 ET  Reply   Untrace   Trace   Private Reply  


#4. To: go65 (#3) (Edited)

Goldman's

Goldman is a huge part of the problem. They've had their slimy tentacles all over the Clinton, Bush, and Obama administrations and helped caused the financial melt- down. Of course, they didn't have to suffer the consequences because taxpayers bailed them out. Nothing they say should be trusted.

On the other hand, for every Goldman there are dozens of economists sounding the alarm bells over the massive and rapidly growing deficit. They are correct. We have to fix this before it is too late.

jwpegler  posted on  2011-03-04   10:32:06 ET  Reply   Untrace   Trace   Private Reply  


#5. To: jwpegler (#4) (Edited)

Nothing they say should be trusted.

they are telling "their" customers that GOP budget plans will cut GDP by 1-2%. Mark Zandi at Moody's (and an advisor to McCain/Palin in 2008) is saying the same thing.

www.bloomberg.com/video/67237016/

Go look at the UK for a preview of what to expect. They're back in a recession.

go65  posted on  2011-03-04   11:19:58 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 5.

#6. To: go65 (#5) (Edited)

I understand. They are using an old-fashioned Keynesian analysis that has no place in the 21st century. These same dimwits claimed that Obama's "stimulus" would make the economy boom. It didn't.

The Keynesians are looking at the problem from the wrong side. We are no longer living in a closed economy. Stimulating demand does not ensure that the benefits will flow to the U.S. We have to stimulate investment in innovation and new productive capacity.

jwpegler  posted on  2011-03-04 12:08:25 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 5.

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