While talking heads pile on the cable shows, blogs and discuss identity politics, what about policy?
Only Romney is mentioning outsourcing and his solutions are part of the problem. He also vetoed a MA amendment to stop state jobs from being outsourced. You know the idea that money recycled into local economies stimulates that economy? Not when it comes to real jobs it seems. Although at least he is aware of it, and seemingly the other major candidates, both parties are ignoring the global labor arbitrage agenda and what it is doing to the United States middle class.
Here come the bonds markets as MBIA takes 2.3B in write-downs. MBIA stock jumped 8% on this news.
Home foreclosures to stay high for the next two years.
I have no idea with this kind of news the stock market is rallying, but it is.
Here's a reality check
he Wall Street worms have made our economy rotten to the core. Combine dazed and confused credit markets with globalization, and our economy is in a bind. A Fed rate cut won't turn things around for more than a week
The Fed's rate cuts are only bandages. They'll succeed at weakening the U.S. dollar against foreign currencies, and that encourages foreign governments to buy American institutions at fire-sale prices. That can't be good for America
So, why is the stock market rallying?