Stocks zoom up on strong GDP, jobs data - CNBC

[morstyranni]

http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P56855.asp

How would an economic recovery play into election 2004 campaigning?

[jiacinto]

1. It would help Bush

It would be "Morning in America" again.

[diplomats]

17. I agree that it improves his chances

but Reagan inherited a poor economy while Bush inherited one with strong fundamentals.

[bookman]

2. Recovering from?

I love how when the market goes up 100 or more points all the talking heads talk about the economic "good news", etc.

First it took a war to bump the stats. And what we're recovering from is the Bush effect. Talk to me when the Dow is 11,000 and unemployment improves.

[FatbackSlim]

4. It adds up...

I was checking my 401(k) a couple of nights ago and I was pleasantly shocked at how much it had improved over the last few months. If the Dow touches 10,000 anytime soon I think the public perception will be that the rough times are over.

[Betty]

16. I agree,

but in the big picture, doesn't it suck that the market first hit 10,000 what, maybe four years ago??? 10,000 seems great after getting down into the 7's this year, but when you realize we've gone nowhere net, it's still depressing.

[ferg]

5. and when it goes down, it's "profit taking"

The bond market is the important news anyway. 10-year treasury bonds are tanking. The yield is now 4.45% and just a month ago it was around 3.2%. If that holds, the refinance boom is ending soon.

[PROGRESSIVE1]

6. TO BOOKMAN:

Profits are up due to increased defense spending. The "Pillotex Company" in North Carolina has closed all of it's 16 shops, and 500,000 IT jobs will be exported by the end of next year so I do not see a recovery in the jobs market!

[fishnfla]

18. EVERYONE LISTEN UP

The growth is due to defense spending from the war 1.5% of the 2.4% is due to Federal Spending. The war machine is spurning profits. Check the big oil profits.

[revcarol]

3. The 6,250 PERMANENT layoffs announced today

aren't in the figures.Plus the smaller ones, the 1's, the 2's, the 100's to be announced later.Plus how many jobs have left the country in the past week, never to return? These will reflect these later, when unemployment claims are filed.

Methinks overoptimism is driving the market.The market can only be driven so far by the "cost reduction" of job-cutting and shipping jobs out of the country.

[John_H]

7. The economy and the market have a long way to go

before folks can answer yes to "are you better off today than you wer four years ago." Plus, it's not going to be the economy that makes or breaks bush--it's going to be his frightening foreign policy and his robber baron approach to domestic policy.

[Atlant]

8. Bush would be elected in a landslide.

> How would an economic recovery play into election 2004 campaigning?

Bush would be elected in a landslide. Everything else (lies, loss of
rights, etc.) wouldn't matter worth spit. If the people can afford to
fill their SUVs, they'll vote for Bush.

Atlant

[John_H]

9. "And though the report showed the impact of defense spending..."

Yeah, that';s the ticket....

[fishnfla]

19. WAR MERCHANTS PROFIT OFF DEATH

the shock and awe economy

[moondust]

22. Defense spending up 44%.

Without that the GDP showed little improvement.

Source: CBS Evening News.

[leftyandproud]

10. unfortunately...

this will help Bush...The way I see it, we get a recovery...a fairly big bounce, dumbya gets re-elected...the market soars...then eventually, people realize we are seeing a repeat of the bubblemania of 99-2000...profits not keeping up with prices...unemployment still at 6%...people in more debt than ever before...the government in more debt than ever before...THEN, people ask themselves: Why the hell am I buying this crap?? The US is BANKRUPT!!! Then the big crash happens, and we don't recover for many years..

[PROGRESSIVE1]

14. Then the majority get what they deserve...

unfortunatly, SO DO WE Intelligent folk! We will suffer for their stupidity!

[Emboldened Chimp]

11. 2.4% is what they report today

but it's been par for the course for them to revise these numbers DOWN at a later date.

And I disagree that this will help * in the long run. Short term, probably. But it's all about jobs. If that number continues to go up, growth and stock prices won't mean squat.

I also believe that the Iraq-attaq will have an adverse effect come '04, thus weakening his supposed strength. A disasterous foreign policy debacle looms in *'s future, count on it.

[PROGRESSIVE1]

12. True...

Bush has many weaknesses and the Dems must expose them!

[morstyranni]

13. I think your missing something.

Most people in this country don't see Bush's foreign policy as disastrous, they are tired of hearing about it on the news and are hungry for fodder...



If teh economy continues to improve, even slightly, Shrub is in.
I'm just being honest here. Most people just don't care.

[Emboldened Chimp]

15. Disagree

I think more people are waking up to the fact that Iraq is turning into a nightmare. All it takes is for more soldiers to get killed. They were killed in 1's and 2's; now that has increased into 3's. It will only get worse the longer we're there. And our soldiers are becoming more aggressive: their raids are resulting in more civilian deaths. This will only exacerbate the problem. More regular Iraqis will take up arms against their foreign occupiers. It's SOP for empires in the Arab world. I wish it didn't have to happen, but unfortunately I think it will.

[joefree1]

20. Me too, read the article

"Last week jobless claims dropped below 400,000 for the first time in 22 weeks. But some thought seasonality was the big factor and economists expected claims to rise back to 400,000 this week."

That's not exactly sunshine breaking. The quagmire is expanding in Iraq and folk are starting to get leary of Bush's conservative appointments.

The smirk might be a bigger looser then his pappy.

Ahh darn.

[fishnfla]

21. The war machine had it up to 160+

and she dropped once they figured the war was pushing it. Or maybe it was Bushes comments on IT jobs? It closed at what 30?

[RUMMYisFROSTED]

23. +33.75

Lordy, I can afford that Porsche now!