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Wal-Mart Numbers Don’t Mean The US Consumer Is Back

This is a syndicated repost courtesy of Between The Lines. To view original, click here. Reposted with permission.

Equities markets rallied strongly today on stronger-than-expected earnings from Wal-Mart (up 8%), with the Dow bounding eagerly upwards by more than 300 points on the news. The market was clearly looking for any excuse to divert attention from the continued spread of the subprime contagion—and it found what it needed in the Wal-Mart […]

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