Stock Futures Lower Again
Obama’s “false Spring” may be ending
(Reuters) – Stock futures pointed to a lower open on Wall Street on Monday following a long weekend, as oil tumbled nearly $3 a barrel on mounting doubts over a quick economic recovery.
At 4:54 a.m. EDT, futures for the S&P 500 were down 0.9 percent, Dow Jones futures were down 0.9 percent and Nasdaq 100 futures were down 0.9 percent.
Oil sank to a five-week low near $64 a barrel on Monday, as investors remained cautious over the prospects of a speedy global economic turnaround, while the dollar gained ground in the wake of last week’s grim U.S. jobs data.
When the only sector of the economy that has added jobs…is the government, then you know you’re screwed.
Biz | Mr. Bingley | 
July 6, 2009 6:54 am
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For kicks and giggles I’ve been reading PJ O’Rourke’s “Parliament of Whores.” With the exception of some dated pop culture references, the thing really could have been released this week.
That’s one of our favorite books, ‘Fly. And you’re right; the analysis is timeless.
To paraphrase PJ: “democracies last until the people realize they can vote themselves the treasury”
Jersey hasn’t created one net new private sector job since 2000, but did add 55,000 (that’s no typo) goverment jobs. The Obamists ought to think about that while they’re looking for work.
PJ said that? Heinlein said something like that as well. I wonder whom copied whom.