Posted on 06/16/2020 6:49:51 AM PDT by knighthawk
U.S. equity markets soared Tuesday after a report that President Trump is considering a $1 trillion infrastructure plan and retail sales gained the most on record after a sharp drop in April.
The Dow Jones Industrial Average gained 818 points, or 3.2 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite rose 2.78 percent and 2.33 percent, respectively.
The president’s proposal would allocate most of the money for projects like roads and bridges, but would also provide funding for 5G wireless infrastructure and rural broadband, according to Bloomberg, citing people familiar with the plan.
(Excerpt) Read more at foxbusiness.com ...
DOA.
I do not support these boondoggles, period. Cuba would be a paradise touting more than Cadillac health care if big government spending was the answer.
I would vote for you for senator
There is plenty of money for the states to do this out of their tax revenue, problem is they have diverted it all to liberal social programs.
Oh, great—Trump pushing 5G.
“I do not support these boondoggles, period.”
Trying to remember my history, did boondoggles extend the great depression?
Boondoggles are opportunities for party members (dem and repub) to enrich themselves.
“problem is they have diverted it all to liberal social programs.”
Bingo!!!!!
This is most likely DOA so why the celebration?
Lord knows we could use the improvements but the money will be squandered with profiteering, waste and fraud anyway. Highway construction costs too much already and has too much waste and is not usually done right.
A tip. Go dumpster diving when a temporary construction “camp” moves on. You’ll be amazed at the amount of expensive stuff you’ll find thrown away. Tells me somebody is making so much money they just don’t care. This is stuff they bought and don’t want to restock or move with them. Job is over, it has all been accounted for. Close the books and move on.
Retail sales are up a bunch.
I still remember the plywood billboards that cost $2000/ piece to advertise the shovel ready jobs created by the first Obama $1 trillion dollar stimulus bill.
These were 4x8 sheets of Marine grade plywood painted and put all of the country. A sheet of plywood that cost about $50/sheet at the time. gubmint money
Not to downgrade good news, but the 17% increase is month over month. They jumped 17% from last month.
We all know that home center, garden center sales are up big. Treated lumber, decking, paint, shrubs, bushes, trees, flowers, etc. Basically anything you can do as a home improvement at up big. Any supplier to the home centers are up huge in the first and second quarter.
What is interesting are other companies that are reporting record sales. White Mountain Puzzle company sales are up 1000% year over year. Just a small company in Jackson, NH.
Pelaton sales are up 60% from last year. More people are working out at home instead of going to the gym. Meanwhile 24 hours fitness is closing 100 locations and probably going out of business.
There was a local RV dealership here in NH that are reporting a 100% sales increase in selling new RVs. People are buying RVs where they can drive for their vacation instead of getting on a plane/etc.
The report spoke too soon.
DJIA stocks were up 800+ points and now up just 300+.
A lot of market reporting should leave itself to what the market did yesterday, not what appears for the moment to be doing “today” as anything can happen before the trading day is over.
With firearms sales at hundreds of thousands per day, yes, there is retail activity.
I don't worry about nationwide chains or what we used to call mailorder. I worry about the mom and pop proprietors (such as barbers, btw, I got a haircut yesterday, first one in months) forced to the brink or beyond it by Demagogic Party fascist despots.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.