America is infatuated with outrage. We’ve spent the last couple of weeks spiking our collective blood pressure over bonuses at the faltering insurance giant AIG
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Outrage Infatuation
The DJIA rose 54.40 points, .75% to close Friday at 77278.38 The Nasdaq Composite gained 25.77 points, 1.80% to finish the week at 1457.27 The S & P 500 rose 11.99, 1.58% to 768.54 The 10-Year Treasury yield fell 0.263 percentage points to 2.626% Crude oil rose $4.81, 10.4% to $51.06 The markets had a second consecutive week of gains and are showing signs that we may have the first monthly gain in stocks since August.
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The Week in Review
From The New York Times : John McCain and Richard C.
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Let ‘em fail
President Obama keeps reminding us that it’s not his fault. Again today at a police acadamy graduation in Ohio, he said, “We inherited a big mess.” It seems to be his favorite line. It is, after all, George Bush’s recession, right?
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Who’s big mess?
From Fox News: The Dow Jones Industrial Average has fallen faster under President Obama than under any new president in at least 90 years, according to a review conducted by Bloomberg. Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the “Obama bear market.” The Dow has also dropped 31 percent since Election Day
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Obama–already setting records
The Young Liberal in our office approached me the other day and started a conversation about the pitiful mess our economy and stock market are in and asked some pretty good questions about sub-prime mortgages and and the collapse of housing markets. I was so encouraged when he seemed to come to the realization that government meddling had a significant role in our present lot
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Barney Frank and The Young Liberal
So, The Happy Capitalist has been on a little hiatus. Okay, not so little.
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The hiatus is over





