Woo-Hoo, Stocks At 18-Month High, Everybody's Rich Now?
Just the other day, we were remembering the exciting month of September 2008 -- known to historians as "The Apocalypse of Sarah Palin Foisted Upon the Peoples of the United States" -- and those thrilling days when the entire global financial system began its complete collapse. And today, capitalism is honoring the socialist Kenyan's death-camp victory by finally bringing the U.S. stock indexes back to levels last seen in the final gruesome days of September 2008. America is back?
Sure, there are still a few "lingering problems," such as the 20% unemployment/underemployment numbers (congratulations, one-in-five American workers!), and the still-plunging commercial real estate market, and the millions of sketchy mortgages underwater or still facing a rate increase or balloon payment, and the dead construction industry, and etc.
But isn't it nice to know that people still holding a buttload of equities are doing much better these days? Do you feel the happiness as it trickles down? [Marketwatch]