April 20, 2009

Recovery tipping point? Not just yet.

The economy could be rebounding. Or not;

NEW YORK (AP) -- Investors are having doubts about banks' profit reports, and wondering whether their better-than-expected performance mask larger problems with bad debt.

Stocks fell sharply early Monday as investors sold financial stocks and looked to lock in profits after a six-week rally. The major indexes slid about 2 percent, including the Dow Jones industrial average, which fell 175 points.

It's still too early to call. But if all we've seen from the Obama administration so far is smoke and mirrors (the smoke being burning money, the mirrors being their continual misdirection plays to the press and the public), then no one should expect the economy to recover unless it's actually doing so on it's own.

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