The Dow Jones industrials close above 9,000 for the first time since January, which means my 201K may be creeping back to 401K status. Hooray!
Just to get the comments going on this hot July afternoon, I wonder if the stock market gain has anything to do with having a new president. The Obama economic policy must be working if we can judge by the stock market results.
OK, there's the red meat for bloggers on all sides of the political spectrum. Have at it. (Yes, this post is a cheap trick to generate comments on Opinion Talk).
Jim blogger baiting again.
Jim Boren, the baiting would work great for me were it not that we all know by now that Wall Street is running the show of separation of people and their money. President Obama's administration does not have much of a chance for a change. I believe in free enterprise but not in grand scale national tyranny of big money. That is called plutocracy, and it is anathema to democracy and free capitalism. Living in denial because of misplaced patriotic pride is not going to help on Capitol Hill either.
Some cmments from pundits on TV.
The market is up because the housing market has improved over the past months.
The market is up because the health plan has been stalled.
I think the market is up simply because it's Thursday. Who's to know?
If anyone recalls that it was Bush that started the bailouts and everyone thought he was stupid fpor it. Now that the Dow is up Obama gets the credit. I don't thin k it will stay consistant. I think its gonna tank again before it levels off then you can blame Bush again. The obamessiah has not come up with anything on his own to make the economy recover but has made the deficit increase but thats ok because its Obama.
Nice work Jim! you got me ticked off!
I happened to be with a few investment advisors today who told me that much of the market's recent gain is due to the stalled effort to take over the health care system.
Ciao.
Jim Boren; that's going to be about the only cheap thing around here. This economic crisis is enriching the wholesale business, ergo retail shall follow. The cost of power shall go up soon. But the wages are not. When our dollar buys less today then it did yesterday, it means that our living standard is lower than it was yesterday. And this financial bloodletting is going to continue because it is not happening by serendipity. Poor naïve Americans don't have a clue what Euros have known. Eco-political conspiracy is real and not a figment of paranoid imagination. The goal is some rich and many poor. It’s already the status quo in the Third World. And I am going to anticipate, and I shall be rude about it. Bart Turnipseed shut up, nobody is really interested in your obsession with discrediting everything I say. Am I omniscient? Of course not. But I know the score of the game and its rules. I am not being morbid, but I shall be dead when there shall be an America like an England of Charles Dickens or the like of a Banana Republic. How is that saying about everything that is ,is what was , and there is nothing new under the sun. The framers of America have known this [they were highly educated people] and they tried to build into the country many safeguards, but Americans are bungling it generation after generation. It’s just over a hundred years ago that Americans had to suffer under economic Darwinism. Social conscience and social reforms put an end to it. But the philosophy of it is very much alive today. Take the time and look it up ; Herbert Spencer's economic Darwinism.
"American economy was governed by a natural aristocracy, based on wealth...The wealthy were those who had risen to the top in a struggle for profits that rewarded the strong and eliminated the weak, the unfit who by lack of industrious habits had not survived the economy. Any attempt by government to relieve poverty was an attempt to defy natural law..."
The coresponding adjustment in the market is visible this morning.
I have gold stocks which are an indicater of inflation. My gold stocks are way to high at this time which tells me the government has simply been printing more money and nothing has really changed.
Putting faith in the stock market and the Obama Administration...both are sucker bets.
Brian Murray, those are not exactly the words I would use, but I too am convinced that they are still manipulating the market to separate the un-initiated from their money.