Thursday, August 30, 2007

Get Happy!

Well, the markets are rebounding from the highly positive yet somehow disappointing news about the economy this morning. Here's what the AP had to say in an updated article:

"Stocks recovered from a sharp dip Thursday as weaker-than-expected economic data led Wall Street to believe chances are improving for the Federal Reserve to lower interest rates."

Wha?

Okay... So... The weaker-than-expected economic data was bad news... So "Wall Street" decided this morning to sell because of the bad news. But somewhere between 9:30 and noon, this paved avenue through downtown Manhattan slapped itself on the forehead and said: "Wait a minute, since this news is so horrible, the Fed might REALLY lower interest rates now! Let's buy!"

Mokay? Mokay.

2 comments:

Anonymous said...

Great post James. Keep it up!

Roger said...

I am amazed too that the Wall Street press seems to think they can just foist this junk off on us and that it explains everything.

Bunk. Nice blog, though. Keep up the great work... and the good investment ideas.