Friday, January 30, 2009

It's The Stimulus, Stupid

Nice spin.

Markets had logged some gains earlier in the week, buoyed by an upbeat earnings outlook from British lender Barclays and a $819 billion stimulus package in the U.S. moving closer to reality, but were jolted back to reality by a new slew of bad economic and corporate news.

Isn't it reasonable, then to believe that the markets would have been up on a good stimulus package? How will the Administration spin this? I don't suppose they have to, since the media did it for them.

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