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  • Today's Good News: Stocks Due For A Huge Rally And GOP Blocks Student Loan Bill [Edit or Delete]0 comments
    May 8, 2012 2:01 PM | about stocks: AAPL, PCLN, UGA, QQQ, NFLX, AMZN, SPY, SIRI, GLD, DIA, FSLR, OIL, C, AIG, GS, BAC

    Stocks and commodities are due for a huge snap-back rally that will catch all the doom and gloom liberals by surprise. The catalyst for such a rally could be the Facebook IPO or hawkish statements by Bernanke. The dow will surge 450 points in a single week; AAPL up 30-50 points; Oil up $6/barrel, and Gas back at historic highs. Monthly job numbers will remain weak with no improvement in sight. Also, no reform on student loan debt, but it's not a bubble. The student loan debt binge is sustainable and good for growth. People out of work is still good for stocks and economy still fundamentally sound.

    The real unemployment rate is actually 90% when you include people who are not only unemployed but those who are too lazy to look for work but somehow still want to work, those who don't like their job, those who have to commute too far to work, those who wish they earned more, and so on.

    According to a Rasmussen poll, The Obama/Osama name confusion is still hurting Obama in certain swing states. If Obama were wise he would release some campaign ads to clarify any confusion over his name to win over these invaluable swing voters that will decide the outcome of the election.

    Today's good news:

    GOP blocks Senate debate on Dem student loan bill

    (CBS News) Senate Republicans on Tuesday blocked a bill aimed at extending low interest rates for student loans, signaling the possibility of a protracted congressional battle over a measure lawmakers in both parties agree should ultimately be passed.

    In a 52-45 vote, Republican Senators blocked further work on the "Stop the Student Loan Interest Rate Hike Act of 2012," a Democrat-sponsored bill that would extend low interest rates on federally subsidized student loans for another year. Barring an extension, the rate on new loans for undergraduates would increase from 3.4 percent to 6.8 percent this July. Sixty votes were needed to advance to debate.

    This is good news because it means more revenue for the federal government, which will help depress treasury yields. Maybe more young people will reconsider that useless liberal arts degree if they have to pay higher interest for it. The problem is students are finding clever ways to spend less like moving back in with their parents, renting textbooks, or buying used clothes, so raising interest rates will force spending and get more money circulating into the federal government to fund pro-growth programs.

    Facebook IPO will be the biggest ever.


    Let's stop the class warfare. Let's encourage more student loan debt. Small biz is not the economic growth engine in America, large caps are.

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