The official explanation I read was there were some pretty bad economic numbers. So bad that alot of people thought it was a sure thing the Fed would cut rates again. This caused people to buy into the market and the Dow jumped to a record high.
May I just say, so the f*ck what if the Fed cuts rates? Our economy will still suck and our currency will be garbage. Yeah, happy days are here again! India and China will still be graduating more engineers than we will be. Jobs will still be going overseas. The American auto industry will still be losing money. We will still be sending a huge portion of our cash to the Middle East for energy thus funding the enemy in our war on terror which is costing us perhaps a Trillion dollars. But our stock market is going up on the strength of BAD economic numbers. Can a nation with people this stupid running the economy survive?
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