SEARCH BLOG: ECONOMY
As reported in The New York Times, bad news was treated as good news by Wall Street.
Let me put my 2 cents in with Wall Street's billions since yesterday's trading seems to reinforce that perspective.
The economy contracted sharply in the first quarter of the year as businesses scaled back on investments and cut their stockpiles of unsold goods, the government reported on Wednesday. But the numbers suggested that the worst of the recession may be fading as the government’s stimulus filters into the economy.
- This recession will not be ended by housing construction... not with the glut of foreclosed homes available and the stockpile of owned homes with people anxious to sell.
- This recession will not be ended by manufacturing which is in desperate shape with the effects of the auto industry blasting through the suppliers and related industries.
- This recession will not be ended by social security recipients super-charging the economy with their $250 stimulus checks.
- This recession will not be ended by the new intellectual-property based economy which is easily copied and usually is.
- This recession will not be ended by the new "green" economy which will create more job losses in traditional energy resource suppliers that will be saddled with onerous taxes.