The quote of the day comes from Tam. After driving past dead strip malls and boarded-up restaurants, she notes that the stock market has rallied on news of (another) Greek bailout.
Meanwhile, the TeeWee talking heads are cooing at the Dow passing 13,000 again. Investors, they say, are excited about yet another Greek bailout. Let me get this straight: Germany has taken out another cash advance on its maxed-out credit card and given it to its deadbeat cousin, Greece, who swears that this time they’ll use the money to get a haircut and a job, instead of wasting it on hookers and blow again, and investors take this as a good sign?
Every time I hear the words “Leading economic indicators are…” come out of a newscaster’s mouth these days, I expect them to be followed by “…from the planet Mars.”
As a , I have to say I agree with Tam. Despite the mainstream media playing up the spurious numbers coming out of the Obama Administration, I don’t see glad tidings on the horizon either.