Friday, May 06, 2005

"Good" Economic News Is Bad Economic News

FINANCIAL NEWS

Strong jobs growth lifts stocks
GE upbeat; Intel pledges double-digit '05 revenue growth


NEW YORK (MarketWatch) - U.S. stocks climbed Friday, boosted by a much stronger-than-expected April jobs report and upbeat comments from General Electric Co. and Intel Corp.


So screams the headlines. Alas for the American worker, Intel makes most of the chips in Asia and General Electric is making money off of the war in Iraq and expect many billions more thanks to reckless Congressional spending.

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