Obama Recession: S&P 500’s Best Monthly Rally Since ‘87

[denem]

This may be a (historic) bear market rally, but I'm sure those seeing their '101k's looking more like '201k's are feeling a bit more optimistic: cf Krugman's 'Despair'.

The Standard & Poor’s 500 Index added 2 percent to 830.44 at 2:10 p.m. in New York and is up 13 percent in March. The Dow Jones Industrial Average increased 160.17 points, or 2.1 percent, to 7,909.98. The Nasdaq Composite rallied 3.1 percent and rose as much as 3.3 percent, erasing its decline for the year. Stocks extended gains as an auction of Treasury seven-year notes eased concern demand for government debt is dwindling.

“I wouldn’t be surprised to see this rally take the S&P up to 1,000,” said Tom Wirth, senior investment officer at Chemung Canal Trust Co., which manages $1.5 billion in Elmira, New York. “It’s been one data point after another that’s come in better than expected.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCUskiMxw6ok&refer=home

[doc03]

1. The Bush rally

:sarcasm:

[Coffee and Cake]

2. According to Krugman its heads private investors win

and tails, the taxpayers lose. So, if his assessment is correct, then this seems like a good scenario for Wall St. since they have everything to gain at the liability of the taxpayer.

Time will tell.

[denem]

3. Actually Krugman saids its Heads, private investors win more,

Tails, private investors are guaranteed, taxpayers lose.