Check out this post:
F**K!
Please folks, don't start that "We should be happy for people...They are seeing nice gains in their 401k's..yadda yadda" Bottom line, this will HELP BUSH!
I took a look at my IRA today and see it sitting at a three year high. I admit, for a moment, I felt a moment of glee, then I remembered who this is REALLY helping, big corporations, Bush's supporters, and the sheep who think he really did anything to boost the economy.
Like it or not, people vote with their pocketbooks and when they see these big gains, they will be happy. Couple this with the bigger than ever tax refund checks people we getting (Thanks in no small part to the politically motivated tactic of reducing tax brackets across the board in JULY, and making the bill retroactive, so the first 7 months of overpaid taxes will be INCLUDED in your tax refund...in addition to the doubled child credit and marriage penalty drop...my GOD...I know most of tax cuts help the rich, but this shit really will help middle America with larger refunds. ALSO, since Dubya dropped the steel tariffs, the price of nearly everything with metal in it will be DROPPING over the next few months...meaning more spending...more demand...more products sold...more corporate revenue...more jobs needed...We need to admit this and prepare for it.
The people are going to be happy.
They like their tax reductions.
They like cheap prices on stuff.
They like their 401k's being up 40% this year.
If the economy keeps this pace, unemployment will likely be down to 5.5% by next November and we better have a damn good argument against Bush's policies. Is there any way we can take credit for helping the economy? We certainly are going to need an argument for this next year.
From where I sit, it looks like your classic Good News/Good News dilemma. Yeeeeeehaaaaa!