Headlines

Dow Punches Through All-Time High: US Stocks Are Back! American People? Not so Much

Great!  Unfortunately, according to this article, it sure looks like the stock market gains have been at the expense of American labor.  But, of course, reality is never as good as the headlines:

(via Twitter)
Jeff Macke @JeffMacke

The Dow is... : 1) a ridiculous index 2) only trading at 12,840 in 2007 dollars 3) 1,574 pts below a "real" new high


Services sector expands in February

"There have been signs that Americans are willing to keep spending, despite higher taxes. Auto sales rose slightly in February after jumping the previous month. And measures of consumer confidence rebounded after plunging at the end of last year."

 So, let me get this straight.  Labor wages are falling, taxes are rising, and American consumers are "willing to keep spending."  Sounds like someone needs to take the kids' credit cards away.

IKEA Pulls Chocolate Cake

"Chinese officials detected coliform bacteria, which is present in fecal matter."

I hope that's not what American consumers are willing to keep spending on.