DOW Breaks 18000!

I don't know if this is the weakest recovery from a recession, but it sure is the grumpiest. When confronted with good economic news of any stripe, we tend to view it in the worst possible way. It's too small. It's too weak. It's good but its temporary. Reminds me of an old joke.

Grandmother and her grandson were at the beach. Big wave comes in and sweeps the child out to sea. Grandmother falls to her knees and prays "Lord, please bring back my beautiful grandson. I will honor your name. I will pray daily. I will volunteer weekly. I dedicate my life to your service. Just bring back my grandchild!"

Another big wave comes in, and when it recedes there is her grandson, unscathed, with his sandpail and little plastic shovel. The grandmother looks up to sky and says. "Lord,  when he LEFT, he had a HAT, you know."

That's sort of the way we look at economic news. He had a HAT.

More later,