Posted on 11/05/2009 1:42:39 PM PST by AngieGal
U.S. stocks rallied Thursday as another bout of upbeat economic data and positive results from Cisco Systems Inc. lifted the Dow Jones Industrial Average back above the 10,000 level with its biggest daily rise in points since July 15.
(Excerpt) Read more at marketwatch.com ...
Could it be that Obama would use them to make the economy look like the recession is coming to a close and blue skies are ahead, immediately before the vote on health care? That way the health care legislation seems to look less reckless.
Since the economy is doing so well... the recession is almost over... it's safe to spend an extra 1.2 trillion or so more on health care right??? /sarc/
Prepare for descent.
What a pathetic joke this is. Unemployment soaring in a country where the economy is 2/3 dependent on consumer spending, the deficit has literally tripled inside of just one year and tax increases across the board are on the horizon.
Big deal because a company here and there shows decent earnings but has anyone looked inside the numbers? Are they do to layoffs, are they from sales in this country? Why do we not hear about the companies whose earnings are terrible? How long does the masquerade continue before these Bozo’s are called to account?
I’m guessing the downturn won’t be until after Obama gets the big spending legislation he wants to pass.
In various ways the economy will get boosted up until he gets what he wants, even if he eventually sacrifices our dollar and prosperity in the process (which is probably part of the plan anyway).
I don't think they can keep monetizing the stock market for much longer.
They planned on having Deathcare and Crap & Tirade done by now, but they didn't plan on the tea parties being so effective.
I believe that time is rapidly running out on the game.
Cisco's results were their "operating earnings". This is what "analysts" throw on the news stations to get people excited.
Operating earnings are open to all forms of manipulation and streamlining. They don't really tell the complete picture of a company. Furthermore, fudging operating earnings will not necessarily land someone in prison.
The other type of earnings is "reported earnings". As the name implies, this is what gets reported to the Securities and Exchange Commission (SEC). Lying on this data can get someone thrown in prison (unless they have money and/or political connections to get out of it).
Bottom Line: ALWAYS look at reported earnings instead of operating earnings.
In the case of Cisco, they're not doing as well as the "analysts" would have you to believe.
WTH??!?!?!
How is 500,000 plus people loosing their jobs in October “upbeat economic news”?
These folks will stop at nothing to spin it into a favorable light for Bambi.
losing
Someone at another forum used the analogy that "the bulls are being led to the slaughter".
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