Stock market up over 200 points already this morning.

[onehandle]

Bad news for the anti-capitalism crowd.

They should have voted for McCain.

[rockymountaindem]

1. Yet the employment picture continues to darken n/t

[onehandle]

3. Yep. A big temp agency I use with just laid off 30% of their worldwide staff.

These were their permanent employees, not temps.

They don't expect to be rehiring for a year.

[ejpoeta]

5. employment usually lags. whether we are bouncing back yet, i am not sure.

but all the experts have said that employment wouldn't come back as fast as the stock market or other things.

[Teaser]

12. It will. Employment lags industrial production.

That is an economic truism, and it makes sense. Think a bit on it, and you'll see why.

[avaistheone1]

13. Where is the industrial production going on in this country that will generate new jobs?

[rockymountaindem]

15. True enough

I've heard that before. Hey, if the stock market is doing better, not only is that good news for my family but at least it's one less piece of bad news. It's better to have the stock market improve and the job market suck than both at once.

[avaistheone1]

17. The stock market is improving based on news that the bankers will

be able to value their toxic assets any way they want on their books. It is expected that this will generate a 20% profit for bank. This what Enron did. This is reinflating the bubble.

I think we are in real trouble.

[DebJ]

18. Yep. Years behind. In 1975-76, it took me 9 mos to get a min wage

clerical job. Well, one penny an hour over minimum wage of $3.75. More than 60 people applied for that little job.
They cut off apps at that point. I got it over the other top applicant because I wore a micro-mini skirt. Looking
for a job as a teacher now...I hope my brains will carry me this time, LOL!

[fasttense]

2. Nice to know that the rich are still able to get richer. But the middle class still don't have JOBS.

Will this be another "jobless recovery"? If there are NO JOBS then there is NO Recovery. But you can always pretend like the bush and dick did. Just pretend the economy is swell and ignore the downward spiral of the rest of America.

This economic slump looks like it will turn into another bad depression.

[skooooo]

10. This middle class person...

Has retirement money tied to stocks, so I'm glad it's going up. This idea that only rich people invest money is ridiculous.

[jefferson_dem]

22. The "stock market only benefits the rich" simpleton nonsense has surely grown tiresome.

n/t

[MadHound]

4. The markets, especially the DOW (which is the only one up that amount),

Are not accurate indicators of improving economic health, nor even of events that are in the best economic interest of most of the people. They are a dark reflection of the mood of the investor class at best, and the investor class are the people who run this crony capitalist economy. That is why we see the DOW skyrocket when unemployment rates go up, because fewer workers means more profits, and that's but one example.

You do realize that the DOW is made up of the stocks of only thirty corporations?

Please don't fall for the fallacy that so many fall for, namely that what is good for the DOW is good for the economy as a whole.

[onehandle]

6. I don't fall for it. I believe that the market is a fantasy based on little.

That being said, others do believe in it. Hopefully companies will fall for it, come out of hiding, and start to ponder hiring in a few months.

[MadHound]

9. At best, the markets are vague trailing indicators,

Meaning that employment numbers will rise before the markets reflect a better economy on a consistent basis. For the most part, markets like the Dow and such are used to confound the public.

[leftynyc]

23. That is the complete opposite of what

I'm told from the Wall Streeters I know. Market is a leading indicator and employment a lagging indicator - according to them. Me, I have no freeking clue.

[Raineyb]

27. Thank you!

:applause:

I get tired of that canard.

The DJIA is not an accurate indicator of how the economy is doing.

Regards

[dmallind]

7. Around here the DJIA is only meaningful

when it goes down.

The truth of course is its not all that meaningful in either direction, especially short term, but remember in DU world -200pts = proof that the depression is on us whereas +200pts = plutocratic rich criminals (over 50% of the population owns stocks but apparently gains only help CEOs and hedge fund bandits) taking short term gains.

There can be no good news for some. Not even when it isn't much news.

[rockymountaindem]

8. Yep n/t

[avaistheone1]

11. Wall Street rallies on mark-to-market easing

NEW YORK (Reuters) – Stocks added to gains on Thursday after the board that sets U.S. accounting standards agreed to give banks more flexibility in applying mark-to-market accounting to their toxic assets.

Optimism was also boosted as leaders of the G20 nations agreed to put an additional trillion dollars into the ailing global economy through extra funding for groups like the IMF.

The Dow Jones industrial average (.DJI) climbed 275.02 points, or 3.54 percent, to 8,036.62. The Standard & Poor's 500 Index (.SPX) rose 30.46 points, or 3.76 percent, to 841.54. The Nasdaq Composite Index (.IXIC) jumped 64.06 points, or 4.13 percent, to 1,615.66.

http://news.yahoo.com/s/nm/20090402/bs_nm/us_markets_stocks_52



This is not good because from what I understand it allows the banks to value their assets at any price they want. So our leadership is essentially inflating the bubble again.

[Yavin4]

14. Dow Is Up Partly Becuase Industrial Production Is Up

Industrial Production is up because of the Stimulus spending.

[avaistheone1]

19. Great! I would like a link for that.

I am trying to find out how the stimulus is truly effecting the economy.

[HiFructosePronSyrup]

16. The Obama-haters must be hopping mad.

[vaberella]

20. They're never hopping mob. They still have Stiglitz and Krugman on their side. n/t

[HiFructosePronSyrup]

21. They must be hopping mad too.

[avaistheone1]

24. I think you have had too much corn syrup.

:rofl:

[jefferson_dem]

25. What/who will they believe... Stig and Krug...

or their lyin' eyes?

[Raineyb]

26. The Stock market always rallies when they're allowed to cook the books.

http://www.marketwatch.com/news/story/Accounting-standards-now-determined-mob/story.aspx?guid={43B3FDAE-FCFB-46FE-A0AC-6B232C945510}

Regards

[avaistheone1]

28. If it worked for Enron - why not then for the other corporations.

:crazy:

[Raineyb]

29. Indeed!

Aren't we silly for expecting something better?

Regards

[Skwmom]

30. If you think all is well in good in the land of American b/c the stock

market went up, just remember the market also went up under Bush.

With the trillions our government has handed over to the crooks, and the policies it's pursuing, it should go up.

The economy is about much more than the stock market, which has become nothing but a game (which is why many refer to it as the game).