Unlike the last two?
Federal Reserve Chairman Ben S. Bernanke will probably try to spur economic growth this month by cutting near-record-low borrowing costs, economists said. His new stimulus may not aid the 14 million Americans without work.
QEs I and II went down like the Titanic if all you watched were employment figures and housing prices/foreclosures.
But have a squidge of the DJIA. QE I ushered in one of the great bull runs in history. QE II somewhat less so, given that it was seen more as taking the punch bowl away than spiking it with a double, but still we're not that far from the post-Greatish Recession highs, and holding above Dow 11000.
All in all, the stocks and banks (Wall Street) have been fairly well bailed out. But Joe Sixpack (Main Street)? How's that workin' out for ya?
At least Joe the Plumber seems to have got a job. Never let a bit of media frenzy go to waste: Joe The Plumber Gets A Teevee Show
And, he's stimulating (government) employment:
Ohio state snooper who targeted Joe the Plumber gets new government job
GOP says Joe the Plumber may challenge Kaptur in '12
Guambat's off to have a stein of tea, Texas tea, and enjoy the Labor Day off. This could be the Labor Decade off.
Labels: Wall vs Main St