Stocks were up big on Wednesday, probably because the Fed’s report today on 3Q economic growth is going to be a good one. (I heard rumors on one of the news channel that the annual growth rate last quarter might have been as high as 6.1%. That’s smokin’.)
All I can say is, it’s about damn time.
We’ve had needed tax stimulus, not-so-needed (ahem) spending increases in Washington, and interest rates at near-historic lows. Offically, the recession ended two years ago, so maybe, finally, we’ll start seeing some real job growth.
And when I say “it’s about time,” I’m not harshing Bush, Congress, the Fed, or anyone else. We had the heart ripped out of Manhattan two years ago and we’ve been at war ever since — so the fact that things have been relatively good is a sign of the resiliance of the American economy, and the American people.
“It’s about time” is for all those folks who have gone far too long without finding a job.