Taking "Stock" of Jobs...

The stock market leaped ahead today, apparently because a lousy jobs report is expected to result in further cheap credit and other monetary debasement, courtesy the Fed.

It is also safe to conclude that the market would have zoomed ahead had the jobs report been positive.

So the market moves forward irrespective of the job situation...and Obama is getting blamed for the job situation but gets no credit for the market gains.

Dow closes above 11,000 after jobs report - Business - Stocks & economy - msnbc.com: "NEW YORK�— The Dow Jones industrial average closed Friday above 11,000 for the first time since early May as the markets digested news of another weak report on unemployment, fueling expectations the Federal Reserve will step in to help the economy.

High unemployment remains a major hurdle as economic growth continues to be sluggish. The Labor Department's report, considered the most important piece of news on the economic calendar, did little to alter the view that the economy remains weak.

While job creation remains scarce, however, there could be a silver lining. Expectations are growing that the Fed will try to stimulate the economy by stepping up its purchases of government bonds. The gloomy jobs report could give the U.S. central bank more incentive to act."