« | »

AP: Obama Plan Makes Stocks Shoot Up

From the fantasists at the Associated Press:

Wall Street opens sharply higher

By JOE BEL BRUNO, AP Business Writer

NEW YORK – Wall Street extended its rally into a second session Monday as investors grew optimistic that President-elect Barack Obama’s plan for a huge infrastructure spending package will help boost the crippled economy.

Obama announced over the weekend plans for the largest U.S. public works spending program since the creation of the interstate highway system a half-century ago. That could bolster the economy by putting thousands of people to work building schools and other construction projects.

Investors also appeared more comfortable that the government is closer to legislation that would dole out billions to America’s three biggest automakers within a week. Congress is expected to pass a $15 billion bailout for Ford Motor Co., General Motors Corp., and Chrysler as soon as Tuesday.

Obtaining the aid might come in exchange for the jobs of the companies’ top executives. Sen. Chris Dodd, D-Conn., who chairs the Senate Banking Committee, said Sunday that Rick Wagoner, GM’s chief executive, “has to move on.” …

Of course Wall Street capitalists love nothing more than out and out socialism. What could be more clear?

And naturally, any subsequent market decline will be blamed on Republican obstructionism to Mr. Obama’s noble New New Deal.

Still, remember when our media actually reported news rather than their own wishful projections?

We think we do.

But then again, we might have been imagining things.

This article was posted by Steve on Monday, December 8th, 2008. Comments are currently closed.

4 Responses to “AP: Obama Plan Makes Stocks Shoot Up”

  1. proreason says:

    Charles Krauthammer wrote a column about 10 days ago that said the wild gyrations in the market are due to reactions to government actions, rather then rational economic activities.

    In a nutshell, if traders think the government is leaning today toward mortgaging more of your future to make Feb 2009 look good, then the market swings wildly up. If King Paulsen or King Obamy changes his mind tomorrow, it swings wildly the other way.

    Makes some sense, since not much else does nowadays.


  2. Trialdog says:

    Love that picture. Three “workers” blissfully enjoying their new government job, complete with an “artist” documenting the glory and an official government “organizer” overseeing it all. That’s change we can believe in!

  3. Liberals Demise says:

    Houseboys’ plan makes my blood pressure shoot up. To hell with the failing stock market!!

  4. VMAN says:

    Let’s see?????? The Republicans come out against the auto bailout and the stock market goes up yet nothing is said of that. HMMMMMMM?????????

« Front Page | To Top
« | »