Investor euphoria amid a global recession

On Tuesday, the Dow Jones Industrial Average rose 889 points. I did not note it, or try to explain it in the immediate aftermath, because, honestly, I find it utterly baffling. The economic news from just about everywhere is grim. The promise of another rate cut, likely to arrive today, would seem to be yet another de facto acknowledgment of more hard times to come.

Then there's this summing up… » Full Story on Salon.com