Thursday, May 21, 2009
Story here from the WaPost on the thaw in credit markets and some guarded optimism on the economy. With less than 10% of the "stimulus" money out the door, it is clear that the major reason for the uptick has been the technical and tactical moves of the Fed. But markets are funny, and there is a serious psychology to their movements. Once cannot discount the impact of the Obama administration's actions in helping to create and sustain a sense of action. But in the end, depression will have been averted due to the actions of the Fed, and not $800B in additional spending.
Posted by The Conservative Wahoo at 5/21/2009