The Wal-Mart Effect: Investors Flock to Stocks

Tuesday, 21 Jun 2011 09:52 AM

By Larry Kudlow

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The Wal-Mart victory handed down by the Supreme Court on Monday is a great win for all business, and a huge defeat for frivolous class-action lawsuits.

In fact, this business victory by Wal-Mart is so bullish, I believe it drove up stocks Monday, with the Dow finishing 76 points higher. There was no new news from Greece. Monday’s stock market rally was the Wal-Mart effect.

By the way, the slam-down on class-action lawsuits is also a victory for individuals. If people have a beef, go ahead and sue. But the Supremes just said no to sociological or cultural or general statistical models, which provide no evidence in these cases. No proof.

Literally, the class-action slam-down by the Supreme Court will save business billions and billions of dollars over time. And of course, the liberal left has waged war against Wal-Mart for years. So that gang took it on the chin Monday.

And then there’s my friend Nancy Pelosi. She said Monday’s Wal-Mart decision “sets back the cause of equality for women.” She went on to re-endorse various equal-pay bills, such as the Lilly Ledbetter Fair Pay Act and the Paycheck Fairness Act. You gotta love it.

After the dreadful NLRB lawsuit against Boeing’s freedom to choose — which is part of the war against business coming out of Washington — Monday’s Wal-Mart decision is welcome relief.

Like I said, it rallied stocks.

To find out more about Lawrence Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com.

© Creators Syndicate Inc.

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