Bloomberg business headline:
Housing starts in the U.S. unexpectedly snapped the longest streak of declines in 18 years in February, adding to signs that the pace of the economy’s decline may be easing.
Hallelujah! And I am not even very religious
Business Breaking News: For the fifth day in six consecutive business days, the markets close higher.
Hallelujah!
And look at these other market headlines today:
DOW, S&P 500 on pace for best monthly performance since April 2008
NASDAQ on pace for best monthly performance since May 2008
S&P 500 up by 16 percent since March 5; Russell 2000 up 17 percent since March 5
Of course, when you are down 50 or 60 percent from the highs, it is relatively easy for market indicators to rise a few percentage points. But still, Hallelujah!
But, what heart-breaking news this must be for Mr. Limbaugh and his disciples who have been hoping that the economic stimuli will fail.
What devastating news this must be for Mr. Limbaugh who has virtually staked his reputation on our economy blowing “to smithereens.”
How fervently Mr. Limbaugh must be praying every morning that there will be no improvement in our economy; that the economy will “blow up in [our] faces.”
How disappointed and frustrated he must feel these last few days.
Now, I am a realist. Let’s not get ahead of ourselves.
There are still lots of opportunities for Mr. Limbaugh’s hopes and wishes to come true. There could still be many happy days ahead for him. This could be just a “dead cat’s bounce,” a short-lived “technical correction,” a bear market rally…
Who knows, tomorrow, or the days thereafter, things could turn around and go Limbaugh’s way once again. Our economy could still totally tank.
But, at least for now, let’s celebrate a pause in our economic downturn.
Let’s savor the moment.
Let’s hope that Mr. Limbaugh, after all, will not chalk up another .2 percent in his “correctness record.”
Let’s hope that it will remain at 99.8 percent—that’s good enough for any human being, on loan from God, or not.
The author is a retired U.S. Air Force officer and a writer.