Always a single swallow which announces a rebound in an anemic US economy

Wall street watchers have cause for optimism, or so they think. Any rebound in the market place makes them marvel at the resilency of a US economy which is in deep crisis. Yesterday [1 May 2008] the Dow Jones spiked up almost 190 points, thereby pushing it over the 13.000 mark, the first time in 4 months. Today the US Bureau of Labour Statistics talk only of 20.000 who had applied for the dole in April, which kept the employment level at 5 per cent. [Everyone knows how phoney these figures since if everything were equal...unemployment would soar to double digits!] So once again the economy has turned a corner, there's light at the end of the tunnel. But like a coquette the market can turn shrew and drop without batting an eyelash. Herr Bush is counting on a rebound of consumer spending, and yes they're spending but less and buying cheaper products and tightening belts. There is no cushion since the US is a country where its citizens do not save nor come near any level of the savings in other industrialised country. It has a mean spirited government and moss backed elected officials who feather their own nests, but don' t give a tinker's damn about the rest. So when the market drops again what will Herr Bush do. Nothing of substance since he is now on record that there are no easy solutions, although for almost 8 years he kept smiling dumbly talking up how good the economy is. With a president like that who needs enemies?