Dow has biggest one-day gain since 1933

Good economic news usually equals bad political news for Democrats. (Isn't it nuts how true that is?)

If the economy shows signs of recovery, especially now, The Hero's campaign may just have some life yet.

I can hear your internal dialogue: "But why Capitalist Fanboy? Why would this help The Hero?"

By all means, let me explain.

For some reason, people seem to think Democrats are the party to turn to in rough economic times. Despite the lack of reason for that, it is nevertheless a political reality. However, if the economy seems to be stabilizing (which it will) as the election approaches, people will (and should) get back to looking at the overall view of these candidates: The character, the associations (ancillary or otherwise), the statements (yes, of spouses too), the leadership resume, the actual records of bipartisanship (or lack thereof), and well, you get the picture. You know, stuff that actually qualifies one to be President.

I'm not saying I know what's going to happen on November 4th, I'm just saying don't plan your Obama victory parties just yet.

From the AP (begrudgingly, I'm sure):

NEW YORK (AP) - Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering relief from eight consecutive days of stock market carnage.

While no one was saying the worst was over for the staggering financial system or troubled economy, buyers returned to the stock market with gusto, with some saying stocks had been driven down to fire-sale prices.

The surge came as executives from leading banks were summoned by the Bush administration to Washington to work out a plan to get loans, the lifeblood of the economy, moving again. And it followed signals that European governments would put nearly $2 trillion on the line to protect their own banks.

The Dow gained more than 11 percent, its biggest one-day rally since 1933, and by points it shattered the previous record for a one-day gain of 499, during during the waning days of the technology boom in 2000.