Thursday, March 11, 2004

The Wecovery: The market figures out it's an election year Keynsian stimulus 

In other words, it's a YABL. Stocks fall.

investors appear concerned that the economy's growth over the last year has come mainly as a result of short-term stimulus from the federal government and Federal Reserve, not because of increased corporate investment or sustainable increases in consumer spending.

Recent government reports showing that job creation has been weaker than expected have fueled those fears, said Thomas Giovine, a hedge fund manager in Los Angeles.
(via The Times)

Looks like fear is taking over from greed ....

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