It's simply sickening that Larry Kudlow continues to
spew bile like this:
Stocks soared 550 points Thursday as Bush’s luncheon speech was played live on all the major cable networks. It was as though Mr. Bush was trying to leave an economic-primer to his successor-elect Barack Obama. Markets cheered because it’s the best thing they’ve heard in many weeks.
Obama would indeed do well to study everything Bush has done -- and then act in as contrary a manner as possible. Virtually everything Bush has touched has turned to shit, with no exceptions that come immediately to mind. That Obama should follow his lead about anything is laughable, as is Kudlow's notion that the stock market gave a rat's ass about Bush's speech. I'll attribute yesterday's reversal to a successful test of first 839 (October 10 intraday low) and then 833 (50% retracement of Aug. 1982 - Oct. 2007 bull run) on the S&P500.
