Sunday, August 31, 2008

President Bush Says Happy Days Are Back Again

Pretty funny right?

Aug. 30 (Bloomberg) -- President George W. Bush (reminds me of the guy in picture) said the U.S. economy is 'beginning to improve,' and he credited the $168 billion stimulus this year with helping to ward off a recession.

Bush, in his weekly radio address today, cited several economic indicators that he said show signs of improvement: the decline in home sales has leveled off and sales are rising in some parts of the country. Orders for some durable goods are increasing, and the economy grew at an annual rate of 3.3 percent in the second quarter, he added.

'There are signs that the stimulus package will continue to have a beneficial impact on the economy in the second half of the year,' Bush said.

Likely Truth

Basically, the president wants the average, uninformed public investor to start buying and provide some liquidity for the institutional traders. The above pretty much hints a high probability of markets declining in the near future.

0 Reflections: