Dow > 11K

Discussion in 'Economy' started by manu1959, Jan 10, 2006.

  1. manu1959
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    manu1959 Left Coast Isolationist

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    8 years of slick willy never pulled this off......whats up wif dat..... :tinfoil:
     
  2. KarlMarx
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    KarlMarx Senior Member

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    I thought the Dow did go above 11K during the reign of King William the Slick
     
  3. manu1959
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    manu1959 Left Coast Isolationist

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    no twas Bush part duex just prior to 911 unless cnn lied tonight or i was drunk ... either possible
     
  4. ScreamingEagle
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    ScreamingEagle Gold Member

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    The Dow peaked on January 14, 2000 at 11,750.28 intraday and closed at 11,722.98.

    http://www.answers.com/topic/stock-market-downturn-of-2002

    Limbaugh has been pointing out how the major media outlets (he played recaps from several) are all saying that crossing 11,000 is a "psychological" breakthru. It's like they were all given a script to follow since they all said it was "psychological".

    Is a psychological breakthru not a real breakthru? :rolleyes:
     
  5. KarlMarx
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    KarlMarx Senior Member

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    Of course, now Bush has really done it.... that freakin' moron...

    1. He was supposed to lose in Afghanistan and have hundreds of thousands coming home in body bags, instead he overthrew the Taliban and established a democracy.

    2. He was supposed to get us into a quagmire in Iraq, instead the freakin' moron goes and wins a swift victory and sets up ANOTHER democracy!

    3. He was supposed to bankrupt the economy and the government with his tax cuts... instead the idiot managed to increase government revenue

    4. He was supposed to have sky rocketing unemployment, and the noodle head drove the unemployment rate down to 5%

    5. He was supposed to crash the stock market and start another depression... instead, he bumbles his way to getting the DJIA above 11,000

    No wonder the Left is pissed, that jerk can't do ANYTHING right!!!!!
     
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  6. Mariner
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    Mariner Active Member

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    1. Most Democrats, including me, supported the intervention in Afghanistan. Who predicted thousands of body bags?

    2. Whether Iraq will become a functioning democracy remains to be seen. Personally, I've been predicting that the Kurds will try to form Kurdistan out of the north. Even if it becomes a democracy, the recent elections suggest that the winners will be Islamist Shi'ites, the same folk who run Iran. So we'll have two Irans. Iran is our friend, right?

    3. Bush has piled more onto the federal debt than any other president in history. We now pay a billion dollars a DAY in interest, mostly to foreign lenders. Our savings rate has fallen. The recovery is strong only for shareholders and executives--workers have scarcely seen a recovery, the minimum wage is at its lowest buying power in 50 years, and poverty has risen. When Bush took office 1/6 American children grew up in poverty. Now 1/5 do.

    4. Unemployment is low. Yes, that one is true, and I'll give Bush the credit.

    5. So the Dow has recovered to where it was when he took office. Now it's time to see if he can actually grow it.

    Mariner.
     
  7. Mariner
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    Mariner Active Member

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    Slick Willie did indeed pull off a Dow over 11,000, in May, 1999, nearly seven years ago. Look at the Dow when Clinton came to office and the Dow when he left. Let's see if Bush's recovery can match Clinton's.

    Mariner.
     
  8. Mr. P
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    Mr. P Senior Member

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    Yep, and then it started falling like a frgin rock..I lost a ton.
    The dow has hit 11k many times since W took office. If you look at the record you can clearly see an up-trend since 01-01...Even with 9/11 etc. Slick willy faced nothing like W has..
     
  9. manu1959
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    manu1959 Left Coast Isolationist

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    what is bush recovering from? ah yes forgot.....the clinton years :poke:
     
  10. KarlMarx
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    KarlMarx Senior Member

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    You may have, but most Democrats were definitely against intervention in Afghanistan. I remember the "quagmire" predictions.

    Iran is not a democracy, it's a theocracy. Iraq is a democracy. Iraq has a representational form of government.

    True, the federal debt is high. It's high because Bush allowed people like Ted Kennedy to write Medicare "reform", because Bush tried to work with the Democrats. As for the falling savings rate, Bush tried to privitize Social Security, but blinked. The minimum wage should be eliminated, it does not solve the problem of poverty (it was first favored by textile mills in New England during the depression, since the Southern states had cheaper labor, as a result of it, many blacks were thrown out of work, since they had no skills). The poverty rate is measured by taking a price market basket of food in 1965 and extrapolating that price based on inflation. In 1965, the typical family spent over 20% of its income on food, now it's about 12%. The "poverty rate" is used by every Democrat that wants to increase social spending.

    4. Unemployment is low. Yes, that one is true, and I'll give Bush the credit.

    It'll grow more if they make the tax cuts permanent and larger. The 300 Billion dollar tax cut turned out to increase federal revenue. So it wasn't a 300 billion dollar cut to revenue, but an increase.

    If you really want to do something about the debt, then do something about Social Security and Medicare. Bush tried, but the Left shouted him down. Major corporations are now doing the same thing with their pension plans that Bush tried with Social Security. New hires now will get their pension money in a 401(k) plan rather than as a defined benefit. Social Security should do the same. If you really want to increase savings, allow people to put money aside in Social Security as Bush wanted to. Since SS is mandatory, you are actually forcing people to save and invest. That will help erase our dependency on foreign capital.
     

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