Stocks at Lows for the Year

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Friday August 06, 2004 · 8:46 AM PDT

2004/08/06 · 08:46

That investor class that Bush is soo keenly dependent upon is likely about to revolt. They look to Bush, who is doing JACK to create jobs and the stocks are tanking cause he's spent several months pumping people up to believe things were improving. Then POOF all at once it all goes into the toilet...

http://biz.yahoo.com/rb/040806/markets_stocks_11.html

Choice Quotes:

[blockquote]The data sent three major stock indexes to new intra-day lows for the year. The blue-chip Dow has lost more than 240 points in the past two days.

The disappointing jobs data stoked investor concerns the recovery was weakening, pointing to slower profit growth.

"This casts a huge shadow over consumer spending going forward. You got softer job growth and you got softer wage growth," said Jeffrey Saut, chief investment strategist for Raymond James Financial.[/blockquote]

In other news, while watching CNBC today, with the Maniken dude from the Bush WHite House trying to spin the numbers, I actually so one of the Squakboxers ask if "with higher oil prices and a receeding recovery, would this be STAGFLATION?"

We need to start a STAGFLATION WATCH to see if the Media starts to pick it up, and if I were Kerry, I'd instruct the surrogets to label Bush's recovery as tettering on the edge of STAGFLATION.

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