Uptick or Slaptick?

As I write this little rant tonight, Wall Street is excited. The stock market has been in a bullish frame of mind now for several weeks. We are holding our own at 9800+ on the Dow. Uptick is a common phrase we hear daily on the 'street'.

Are we really hitting the bottom of this recession?

I dunno, seems pretty unlikely. Until we get the 10% unemployment number on a downward slide we are not hitting the bottom for main street. Jobs are what keep people, in any country, from standing in long soup lines.

So why is Wall Street on the uptick? Are investors ignoring the jobless numbers? Many say yes. Many say Wall Street is hedging their bets that the banks are doing better, housing is on the 'uptick' and our illustrious president is making peace. Afterall, he has already been awarded the Nobel Peace Prize to prove it!

Hmmmm, so they say.

The phrase Uptick may be missing a few letters.... are they so sure it is not Slaptick?
Laurel and Hardy style?

Fact: We have double digit unemployment which is likely 20% when you count those who have used up their unemployment and those who have just given up altogether.

Fiction: O'Bama has 'saved' several thousand jobs. Really? Show me the facts behind that claim!

Fact: New homes are being built, yes they are. To the tune of .5% over this time last year. Gosh, that IS exciting....isn't it?

Fiction: Existing under water homes are getting saved or sold. Ok, I'd like to believe that.

Fact: More people are losing their homes everyday than ever before since the Great Depression.

Not to get too deep into this political rant I better close with this:

Until we see the jobless rate go down, we are NOT hitting bottom. Until we find a solution that works for health reform, we are not hitting bottom. Until we all can spend once again on essentials we need without having to check our bank balance, we are not at the bottom of this recession.

Wall Street can be foolish but as for me, I am being cautious. Our world has seen changes we never dreamed we would in our lifetime. Change that in no way feels like the change for the better we were promised by the president when he was campaigning. We don't hear 'change' for the better from him now and haven't in oh so long.

I am going to hold onto my bottomline, spend only what I must, be the best I can be on my job so I might have it longer and we just might see a 'bottom' sooner than later if we as a nation all become spendthrifts. I don't know about you, but I have no choice!

God bless you & God, please bless America!
Marge@Large

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