Wednesday, August 19, 2009

Nasty Rumor (To be clear, it's likely false)

AlphaNinja - Like the 200 rumors of Fidel Castro's death over the last decade that prompted a quick spike in the stock market, this rumor is probably false also. Rumors are flying around that there is a second stimulus in the works.

The Dow is trading higher on the news, and I suppose it should. Many Dow components would benefit from stimulus dollars stolen from taxpayers and handed to them.

Maybe a proposed second stimulus could be a bit moire friendly to the taxpayers that fund it? From my post July 8th:

"Another way to look at it -->> the stimulus works out to $7200 per US household. With our economy 70% dependant on consumer spending, why not give that money back to the taxpayer, the rightful owner? Or just give it to the bottom half of households (by income), and that's $14k per family. For many people that is a HUGE increase in the quality of life, letting a parent quit their second job, etc. They could reduce debt, save more for college, get the kids braces...."

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