The markets were up, but the news was bad, bad, bad

Simply, …

Because Citigroup (now owned by the US government) posted a profit

FTSE 100
3715.23up
172.83 4.88%
Dax
3886.98up
194.95 5.28%
Cac 40
2663.68up
144.39 5.73%
Dow Jones
6926.49up
379.44 5.80%
Nasdaq
1358.28up
89.64 7.07%
BBC Global 30
4342.34up
182.62 4.40%

BUT

Worst crisis since 1930s says Fed

IMF predicts a global recession

And here in Ireland …

Irish economy ‘to contract by 6%’

Anyone got any ideas? Not really …

.

And, by the way, so far losses in the US stock markets alone; $ 11 trillion!

Stocks have lost $11 trillion in market value since the October 2007 peak, according to Marketwatch. This is based on the Dow Jones Wilshire 5000 index, which includes nearly every U.S.-listed stock. Losses since the start of 2009 are $2.6 trillion. Nearly half of all stocks in the index are now trading at less than $5, and 37% are under $3.

A monumental failure of management.
The Spiral of Ignorance

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