Dow Jones Industrial Average (DJI)

[XBladeRob]

I'm curious...

Why after an extension of tax cuts which will continue to decrease government inflows from taxes, is the market taking this as a positive?

The tax cuts have done nothing to enable the consumer to consume more, in any "fundamentally" stronger way.

Top that with the poor jobs numbers that were reported recently, along with the EU countries falling to pieces, (Spain said last night that they will not need an official bailout, I wonder how long it will take for that to hit their bondmarket and revoke that statement....)

I cannot see how, after a multiple hundred point run up, you can legitimately describe market sentiment as "looking good"!

Dow bumped up against resistance once again, and has been floating down all day.