The Rock Takes A Pass
This could have never happened six months ago when markets were frozen like ice;
NEW YORK (AP) — Prudential Financial Inc. said Monday it will not take funds from the government’s financial rescue program, but it is planning to raise $1.25 billion on its own through a common stock offering.
As I have said again and again, you do not need stimulus money when the economy is in recovery.
Other items this morning include a rise in personal income. My income was up, guess a lot of people felt a rise too.
NEW YORK (MarketWatch) — U.S. stock futures added to early gains on Monday after the government reported personal income climbed 0.5% in April. Futures for the Dow Jones Industrial Average were up 118 points at 8,606. Those for the S&P 500 were up 15.2 points at 933.30, while Nasdaq 100 futures gained 12.2 points to stand at 1,447.8.
And some great manufacturing data;
LONDON (AP) — World stock markets rose strongly Monday after closely-watched manufacturing surveys reinforced hopes that the global economy may start to recover by the second half of the year.
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June 1st, 2009 at 7:09 am
You know I started to copy another list of all the bad economic news to link to here. We have gotten into childish behavior looking for articles that supports the economy is gettting better by you and staying the same or worse by me.
All I’m going to say is that a lot of people say unemployment is going to get worse and it will for the unforseeable future(including Obamas economic team.) You think that unemploymnet shouldn’t count because it is always the last indicator of economic receovery. I say there is no recovery until unemployment recovers. I don’t see any of these policies going to help employment–just like the 1930s under FDR. Everyone was happy because of give-away programs. There is no such thing as a give-away program. Someone is paying and the debt we are building is unbelievable.
I’m sure that we are going to hear good days and bad days and people are going to play every little news item to their political benefit.
For some reason–I do not see the policies of Obama promoting a free market/capitalistic policy. I’d rather support good conservative economic principals and Libertarian.
[Hmm, "people are going to play every little news item to their political benefit." Like when some cheered the "Obama Bear Market." I really feel sorry for retirees and alike that fell for that crap listening to talk radio, they are the ones who were punished when politics intersected with finance. OL]
June 1st, 2009 at 7:33 am
If in fact a recovery is occuring, when does the administration’s long term spending spree, bad energy policies, bad environment policies, excessive taxation etc. begin to trump & short circuit whatever good economic news there is? We all know that this administration only views business as a fattended calf one day to be slaughtered, taking jobs and prosperity with it. Then what?
June 1st, 2009 at 7:35 am
Any number of companies have refused the stimulus money. Many in fact planned to take it but changed their minds or outright refused once they saw the strings attached. That one company refused stimulus money even though many others have take it–to their detriment–no more indicates a recovery than a stripper’s smile indicates a personal interest in a potential customer.
June 1st, 2009 at 11:44 am
Cheney says he supports Gay Marriage.
And also of interest…
Gen. Ricardo Sanchez calls for war crimes truth commission.