|Dow Jones Loves the Sequester|
|by Tom McGregor||Tue, Mar 5, 2013, 11:12 PM|
The sequester holds many benefits for Americans. It distracts President Barack Obama from pushing ahead on his Socialist agenda, which includes legislating climate change carbon trading schemes. If the sequester gets prolonged, the federal government might unintentionally balance its budget. The US must stop paying UN dues. Accordingly, Wall Street is pleased and the Dow Jones Industrial Average is hitting record highs this week.
According to the Houston Chronicle, “the Dow has never been higher. The Dow Jones Industrial Average jumped nearly 100 points early Tuesday, reaching an all-time high, powered by China’s strong economic growth targets and a jump in European retail sales.”
Right after the opening bell, the Dow was trading at 14,222, and it’s on track to close above its record of 14,164 that was reached on Oct. 9, 2007. It has soared 7.8 percent for the year.
As reported by the Houston Chronicle, “the Standard & Poor’s index rose 11 points to 1,536. It’s also within striking distance of its own record of 1,565.”
Meanwhile, China is hinting that it will soon abandon its Left-leaning socialist economic model and return back towards more privatization and market-oriented reforms.
To read the entire article from the Houston Chronicle, link here:
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