Things have been pretty much in the crapper for so long now that good news seems as alien to us as a Martian.
Which is why today serves as an unexpected sorbet to cleanse the bad taste in our palates.
Stocks soared Wednesday after central banks around the world agreed to pump more liquidity into European banks, an effort designed to loosen credit and stimulate economic growth in Europe and prevent its debt crisis from unhinging the global economy.
Think about it: For once, we’re not stuck in a world of deep doo-doo. At least for now, we don’t figure to spend the rest of our lives living in the doorway of an abandoned building.
The Dow Jones industrial average rocketed 488 points (4.2%) to 12,043, after sharp gains of 3% to nearly 5% on European exchanges. The Dow’s rise, mirrored by the Standard & Poor 500 and Nasdaq composite index, wiped out last week’s Wall Street losses.
Speaking of blimpo coinage, today also was swathed in some other bright economic lights: October sales of existing homes surged 10.4%. A separate report found private employers added 206,000 jobs in November — nearly 60% above some analysts’ expectations — for the biggest gain since December 2010. And China boosted global markets by cutting reserve requirements for its banks, to ease lending and keep that economy humming.
Don’t ask how Herman Cain plans to celebrate all this good news.