Good News Is Relative: Stocks Close At Highest Level Since ’08


Markets rejoiced over a blockbuster jobs report out Friday, with stocks closing at their highest level since the 2008 financial meltdown.

Stocks rocketed after the government said the economy added 243,000 jobs in January, beating Wall Street expectations by roughly 100,000 jobs. The Dow Jones Industrial Average closed up 157 points, or 1.23 percent. The NASDAQ index leaped by 46 points, or 1.61 percent, putting it back into territory it hadn’t touched since the 2000 tech bubble.

For most Americans, this is a good thing. I’ll add another disclaimer that the jobs report wasn’t all good news, but perception matters. If people see that the raw data is improving and the stock market is responding, it could continue to spur our recovery.

For Republicans, this is all bad news, though. A doughy, incorrigible presidential candidate whose name rhymes with “Toot” wants to let us know what’s really going on.

No, Wolf, it’s irrelevant. Give him some credit — if it makes you happy give him some credit. The fact is, his policies in general have driven up the national debt massively, they have weakened the United States economically, they have increased the price of gasoline so it was double what it was when he came in  — the economy is dramatically weaker than it was under Ronald Reagan at the exact same point in his first term, and he’s not going to be able to go to the public and say, ‘Look how successful I’ve been.’ The most he’ll be able to say is, ‘I’m less destructive now than I was a year ago.’

Of course, this has all demonstrably proven to be false. Gasoline has increased because the economy is no longer swirling the shitter.

Hey, remember when Mitt Romney was all like, “hey man, corporations are people! And let the foreclosure process go through! LET THOSE MOTHERHUMPING POORS EAT CAT FOOOOOOD!”

Ralston asked if he stuck by those words. Romney focused on a more positive side of what he meant, saying, “When I say, don’t stop the foreclosure process, what I mean by that is, the best way to stop it is to get the economy going so home values rise and people can meet their obligations.”

So yeah, there’s that.

As for the “Reagan Recovery” we all know how much bullshit is wrapped up in that.

Typical Republicans.The economy is clearly showing signs of slow, but steady improvement, and they can’t hide their disgust. I’m not sure if this one falls in their greatest hits category of cheering for Chicago losing their Olympic bid, or being depressed that GM is #1, but it’s still pretty sad.

Sad. I think that’s the best way to describe them.

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