Site for Free Markets and Free People

Wednesday, March 04, 2009

China Announces Stimulus Package: Stocks up 6%

The stock market has rejected just about every one of Obama's plans thus far - the bailouts, universal healthcare, his pork-filled stimulus package.

Interestingly, the market is much more optimistic about China's stimulus plan. China's plan really is more infrastructure-related and most likely has less pork.

I for one am not big on stimulus plans, but if China has large surpluses, it's worthwhile to spend wisely.

Obama's plan is based upon more taxing, more spending and larger deficits. He has a lot to learn.