[OPE] The more layoffs, the more stimulus

...here's the paradox. Investors absorbed the horrible jobs report, and started buying-with a passion. By the end of the Friday session, the Dow Jones industrial average had surged 259 points, more than 3%, to 8,635, while the Standard & Poor's 500-stock index jumped 3.7%. The Nasdaq index gained 4.4%, or 64 points. Rather than treating the jobs collapse as a sign of impending depression, the market took the more optimistic perspective that companies were cutting their workforces as an essential preliminary to higher profits and an economic recovery. http://www.businessweek.com/bwdaily/dnflash/content/dec2008/db2008125_262528.htm?chan=rss_topStories_ssi_5

As US jobless numbers reach levels not seen in 25 years, another crisis is unfolding for millions of people who lost their health insurance along with their jobs, joining the ranks of the uninsured. (...) Starla D. Darling, 27, was pregnant when she learned that her insurance coverage was about to end. She rushed to the hospital, took a medication to induce labor and then had an emergency Caesarean section, in the hope that her Blue Cross and Blue Shield plan would pay for the delivery. http://www.nytimes.com/2008/12/07/us/07uninsured.html?_r=1&hp

J.

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Received on Sun Dec 7 16:46:58 2008