i think the market onviously rallied into the close as news surfaced that congress passed a stimulus package. today however,the futures are down. is the package smaller than expected,will the president veto it? i would of thought the futures would be up on this news.
history has proven that not one government stimulus has ever worked. net net stocks were worse off after the package has been passed. the only one that has ever worked was the public works program initiated by the us after the great depression and that specifically was the hoover dam. the point proven was that a program must create immediate jobs and income for many hundreds of thousands of people. that is exactly what happened with the hoover dam. the obvious suggestion to the us government and and other governments around the world would be to try and stop creating the impression they have done something when in fact they have done nothing other than transer money around from one class to another. build new motorways,schools,hospitals and concrete infrastructure. not report bullshit.
first off,i am only talking about one trading day. i realize history has shown that stimulous plans don't work but i would think with the market so oversold and congress passing it,the futures would have been up . i see now that the market reversed to the up anyway for the time being. also,i did see what the fed said last night and that was probably why the futures were down.