Bush Boom, Bitches!

The Dow is going to tank today.

Consumer prices shot up at the fastest pace in 20 months in May, fueled by a surge in gas prices, although inflation pressures were moderate in most other areas.

The Labor Department reported that its closely watched Consumer Price Index registered a 0.7 percent increase last month, the biggest advance since Hurricane Katrina shut down Gulf Coast oil production in the fall of 2005.

[snip]

In other economic news, the Commerce Department reported that the deficit in the current account, the broadest measure of foreign trade, increased to $192.6 billion in the January-to-March period, compared to $187.9 billion in the fourth quarter. The increase reflected a higher foreign oil bill.

5 thoughts on “Bush Boom, Bitches!

  1. Monkeyfister says:

    I don’t quite understand it, but, the DOW, S&P and NASDAQ are all soaring.
    There is some really crazy shit going on on Wall Street. It’s clear that the Bazillionaires are the only traders that matter any more, and they are trading in a seriously whacked-out parallel universe.
    Freaky shit, Holden– Freaky.
    –mf

  2. Max cascone says:

    indeed – the dow is UP today. Way up. Why?

  3. pansypoo says:

    but but but gas is under $3 here.

  4. Mr. Warmth says:

    The market is up because core inflation was only up 0.1%. The core is inflation minus energy and food.

  5. Kaleberg says:

    You don’t understand how the market works. People put money in the market for two reasons. The market has been going up and they want to buy high and sell low, or there is nowhere else to put their money because the economy is tanking, so they buy stock.
    The first, buying high and selling low, is called momentum investing or a Ponzi scheme. You actually can make money this way, but you have to move fast. I live out in the sticks and find it pays to follow in city investors. As soon as brokers or realtors or whatever start advertising out here, it is time to sell, and sell fast.
    The second, buying stocks because there is nothing to invest in, is called supply side investing because there is always a good supply of stock to buy. Republicans tend to borrow massive amounts of money and piss it off buying nothing useful so the economy hollows out. If you actually invest in productive assets, you will lose your money, so it pays to put it into the market thanks to the Tinkerbell effect. It may no work in Iraq, but it does work on Wall Street.
    I’ve actually made money using both strategies. We’ll see how things come out with this round.

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