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Wall Street crosses the [meaningless] 11,000 mark today!!

13 Apr

Wall Street crosses the [meaningless] 11,000 mark today!! Of course there is a small part of me that would like to point out that despite the [somewhat anemic] rosy data, the ebullience of Wall Street’s rally is [still] out of step with the slow pace of the recovery. Unemployment is still startlingly high, the housing market is still stumbling despite significant government support, and that very support is expected to be withdrawn in the near future, and there are even indications that stock prices are about 30% overvalued. But I wouldn’t want to piddle on their parade. It’s a great day for Wall Street…

CommodityOnline

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Posted by on April 13, 2010 in Economic News, Financial

 

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