The Dow has closed above 10,000 for the first time in a year. This is being trumpeted as a good thing and a sign that we're moving 'in the right direction.' Yet unemployment is about to hit 10% and more and more of the costs of these idiotic bailouts and bloated stiumulus packages are being passed on to the states. Iowa is under the gun-- California's much vaunted new budget is already in the red...
So, put the champagne down. This is no reason to celebrate, just another signal that the rich have gotten richer by getting together with the politicians and screwing the rest of us over.
Put. The. Champagne. Down.
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