Peter Tchir chimes in with some observations of supreme irony:
It is also ironic that more time has been spent trying to figure out the impact of 45,000 Verizon strikers on NFP, than has been spent on trying to figure out what sort of a system we have where 45,000 employees feel comfortable going on strike when there are NO jobs, and management caves in to their demands. Maybe Obama should address that sort of mentality in his jobs speech next week. Maybe the problem is more at the core of what this country has become than what some new tax incentive to hire can fix. If anything, the tax incentive will likely be good for lawyers who will be paid by big corporations to figure out how to get the most benefit for the least amount of actual change. Maybe I'm being too cynical or maybe that is another core problem that should be addressed, but guess that is too much like hard work for politicians, and might even affect some politicians' friends and campaign contributers.
I guess now I can wait for the Europe going home rally and the QE3 rally, or can start enjoying the beach for Labour day and wait for next week to see how long any bounce (if there is one) lasts.