load of bull: dow hits all-time high

Posted in the Minneapolis Forum

liBeRALs

Minneapolis, MN

#1 Mar 5, 2013
The best-known stock-market average in the world is at an all-time high. Unfortunately, that matters less than it ever has.

A new high for the Dow Jones Industrial Average is an important milestone on the road to recovery, no doubt. The stock index has more than doubled from its low in March 2009, making this one of the strongest bull markets in history. At the same time, regular people have hardly benefited.

The Dow Jones Industrial Average was up about 130 points to about 14,250 on Tuesday morning, on track to break its previous high close of 14,164.53 set on Oct. 9, 2007. After more than five years, at least one stock-market index has finally erased the memory of the financial crisis and Great Recession.

Other, broader market measures still have a ways to go. The Standard & Poor's 500-stock index was still about 30 points away from its record high of 1565.15, also set on Oct. 9, 2007. And the tech-stock-heavy Nasdaq Composite Index was at about 3215, still light years away from its record high of 5048.62, set on March 10, 2000, back in its dot-com glory days.

Those indices are better indicators of the stock market as a whole. Though the Dow is better known, and claims "to provide a clear, straightforward view of the stock market and, by extension, the U.S. economy," it has some big flaws.

It is made up of just 30 stocks, for one thing, meaning some very important companies get left out, and other, less-important companies get undue influence. And it's bizarrely weighted by stock price, regardless of how big or important a company is.
Wade Gustafson

Saint Paul, MN

#2 Mar 5, 2013
The stock market is high. How much is that helping the unemployed, especially the chronically unemployed who have no more unemployment benefits?
liBeRALs

Minneapolis, MN

#3 Mar 5, 2013
It ISN'T healping the poor - the greedy rich continue sending our jobs overseas to make an extra buck.
Ralph

Saint Paul, MN

#4 Mar 5, 2013
The new norm.

Rich get richer poor get poorer.

Obama is happy, that's all that counts.
Capt Crunch

Cave Creek, AZ

#5 Mar 5, 2013
Beat the rush, SELL NOW!!!
redeemer

Saint Paul, MN

#6 Mar 5, 2013
It's so cool to see how everything is backfiring
on the republican trash class,what every happen to the gloom and doom? and the sky didn't fall,and the ecomomy is getting stronger,and gas prices are falling again,and America is stronger and better than have been predicted.
Ralph

Saint Paul, MN

#7 Mar 5, 2013
redeemer wrote:
It's so cool to see how everything is backfiring
on the republican trash class,what every happen to the gloom and doom? and the sky didn't fall,and the ecomomy is getting stronger,and gas prices are falling again,and America is stronger and better than have been predicted.
Tell those on food stamps.
redeemer

Saint Paul, MN

#8 Mar 5, 2013
Ralph wrote:
<quoted text>
Tell those on food stamps.
whats the matter did you cut off of yours?
wow

Saint Paul, MN

#9 Mar 5, 2013
redeemer wrote:
<quoted text>whats the matter did you cut off of yours?
did you attend skool?
redeemer

Saint Paul, MN

#10 Mar 5, 2013
wow wrote:
<quoted text>did you attend skool?
did you?
Wade Gustafson

Saint Paul, MN

#11 Mar 5, 2013
redeemer wrote:
It's so cool to see how everything is backfiring
on the republican trash class,what every happen to the gloom and doom? and the sky didn't fall,and the ecomomy is getting stronger,and gas prices are falling again,and America is stronger and better than have been predicted.
The problem is, even though the stock market is up, the economy really is not. Wages are stagnant, unemployment is still high (and the reported unemployment rate is much lower than the actual rate) and people's largest asset is their home and those prices have still not universally gone up. If you are going to claim recent lower gasoline prices, you need to be reminded that it is still $1.75 more than it was when President Obama took office.
redeemer

Saint Paul, MN

#12 Mar 5, 2013
Wade Gustafson wrote:
<quoted text>
The problem is, even though the stock market is up, the economy really is not. Wages are stagnant, unemployment is still high (and the reported unemployment rate is much lower than the actual rate) and people's largest asset is their home and those prices have still not universally gone up. If you are going to claim recent lower gasoline prices, you need to be reminded that it is still $1.75 more than it was when President Obama took office.
Why do you hate america? the economy will rebound,jobs have increased since Bush,wages will increase when worker demand it from their employers,the housing market is improving my home have been reappraise and it been appreciated according to my mn.property tax. so why should I believe your gloom and doom without any valid proof of your nonsense?
Wade Gustafson

Saint Paul, MN

#13 Mar 5, 2013
redeemer wrote:
<quoted text>
Why do you hate america? the economy will rebound,jobs have increased since Bush,wages will increase when worker demand it from their employers,the housing market is improving my home have been reappraise and it been appreciated according to my mn.property tax. so why should I believe your gloom and doom without any valid proof of your nonsense?
I have stated facts. Home prices have still not universally recovered (some are up, most are not), unemployment is at 7.9% which is down but still higher than what it was in 2008, and gas prices are still higher than they were when Obama took office.

Why do I hate America? That's b.s. and you know it.

The economy will rebound despite President Obama, not because of him. He is still on the class warfare rampage instead of trying to get the budget fixed. Taxing the rich will not reduce the budget deficit, only budget cuts and boosting the economy will fix the budget.
redeemer

Saint Paul, MN

#14 Mar 5, 2013
Wade Gustafson wrote:
<quoted text>
I have stated facts. Home prices have still not universally recovered (some are up, most are not), unemployment is at 7.9% which is down but still higher than what it was in 2008, and gas prices are still higher than they were when Obama took office.
Why do I hate America? That's b.s. and you know it.
The economy will rebound despite President Obama, not because of him. He is still on the class warfare rampage instead of trying to get the budget fixed. Taxing the rich will not reduce the budget deficit, only budget cuts and boosting the economy will fix the budget.
Only budget cuts will fix the economy?what about a increase in revenue? is taxing the rich class warfare,or is just cutting the poor and middleclass funding will balance the budget,you're letting the rich and powerful misguide you waddie,they got right winger drinking their kool-aide,the working and SS retired types believe their BS.
Wade Gustafson

Saint Paul, MN

#15 Mar 6, 2013
redeemer wrote:
<quoted text>Only budget cuts will fix the economy?what about a increase in revenue? is taxing the rich class warfare,or is just cutting the poor and middleclass funding will balance the budget,you're letting the rich and powerful misguide you waddie,they got right winger drinking their kool-aide,the working and SS retired types believe their BS.
The 'rich' do not have enough money to balance the budget. That is a red herring. The top 5% could have their income taxed at 100% and it would not be enough to run the federal government for two weeks.

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