Dow 13,000

Discussion in 'Economy' started by red states rule, Apr 25, 2007.

  1. red states rule
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    red states rule Senior Member

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    More proof today, the US economy is strong and inflation is in check as the Dow hit another all time high

    Damn, those tax cuts are the gift that keeps on giving




    Dow Jones Industrial Average Cracks 13,000 for First Time, Buoyed By Corporate Profits

    The Dow powered to a close above 13,000 for the first time and the broader market rose to its highest level in more than six years Wednesday, buoyed by a steady parade of strong profit reports and reassuring news on the economy.

    The Dow Jones industrial average rose 135.95 points, or 1.05 percent, to end at 13,089.89. The Standard & Poor's 500 Index advanced 15.01 points, or 1.01 percent, to close at 1,495.42. The Nasdaq Composite Index gained 23.35 points, or 0.92 percent, to finish at 2,547.89.

    Click here to visit FOXBusiness.com's Investing Center.

    Standouts in the session included Alcoa Inc. (AA), up 5.2 percent after the world's largest aluminum company said it would consider selling its unit that makes Reynolds Wrap, and Amazon.com Inc. (AMZN), up 27 percent after the Internet retailer posted far stronger-than-expected profits.

    A surprisingly strong durable goods report bolstered confidence in the outlook for business spending, while the Federal Reserve's Beige Book report said regional U.S. economies grew modestly while prices increases moderated.

    http://www.foxnews.com/story/0,2933,268287,00.html
     
  2. red states rule
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    red states rule Senior Member

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    Of course the liberal media could not let this good economic news go unchallenged



    Dow Soars to Record 13,000 Point Level, But...CBS and ABC Stress the Negative
    Posted by Brent Baker on April 25, 2007 - 20:18.
    The Dow Jones Industrial Average soared past the 13,000 level on Wednesday, but the CBS and ABC evening newscasts reported the good news in the media's all-too-frequent “yes, but” framework. CBS Evening News anchor Katie Couric fretted that “even as investors are making money in the market, Anthony Mason reports there are concerns tonight about the rest of the U.S. economy.” Mason talked with a celebrating stock trader before turning downbeat: “But Wall Street and Main Street appear to be headed in different directions. While the stock market's been racing ahead, the economy has been slowing down. Housing is mired in a slump.” Liz Ann Sonders of Charles Schwab confirmed bad news for the overall economy, citing how “we have seen economic growth get cut in about half in the last year, so clearly the economy is not as strong as it was a year ago.” Mason ominously warned: “Rising gas prices, up 70 cents already this year, could slow the economy even more.”

    http://newsbusters.org/node/12312
     
  3. JeffWartman
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    JeffWartman Senior Member

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    Why is it that you praise this development, and praised the 12,000 development, but when we had a mini-crash a couple months ago, you downplayed it, said it was no big deal, and just a "correction"?

    Please respond to the substance of the post. And I'm not a "Lib". I'm more Conservative than you.
     
  4. red states rule
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    red states rule Senior Member

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    After a run up - investors take their profit

    Also there was a crash in the Asian markets the day before

    So far all the doom and gloom predictions have not come true

    This is more proof tax cuts work everytime
     
  5. JeffWartman
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    JeffWartman Senior Member

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    Which is exactly what this is!!!

    True, but the economy has NOTHING to do with the policies of G.W.B.

    Just like when we said that Clinton didn't have any control over his economy, Bush doesn't have any control over his. We have to be intellectually honest.
    I like you -- but you need to understand that tax cuts do not necessarily work every time.

    Only most of the time. Not every time.
     
  6. red states rule
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    red states rule Senior Member

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    The Dow is a picture of the future - the future looks pretty good. Durable good order up, and the economy is to have slow but steady growth

    Inflation fears are down and the Fed may even cut interest rates soon

    The current economy is because of the Bush tax cuts.

    Tax cuts worked for JFK, Ronald Reagan, and now Pres Bush
     
  7. red states rule
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    red states rule Senior Member

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    ABC has to play down the Bush economy and the good news


    More Cold Water on Stock Market from ABC News
    Posted by Ken Shepherd on April 25, 2007 - 19:13.
    This dovetails well with what my colleague Scott Whitlock reported on NewsBusters two days ago:

    ABC Graphic: "Will Dow Hit 13,000 Today? Is Unstoppable Market Good or Bad?"

    The graphic ran underneath co-host Diane Sawyer and GMA financial contributor Mellody Hobson’s discussion over whether or not the Dow, which has been breaking records recently, is headed for a downturn.

    Today the Dow Jones closed above 13,000 for the first time in history.

    Of course ABCNews.com had to sow seeds of worry about the economy (see screencap to the right).

    You can see how ABC and other media outlets have consistently taken a sour view of the economy here.

    The Media Research Center's Business & Media Institute has more on the media's generally gloomy take of the economy here and here and here.

    http://newsbusters.org/node/12311#comment
     
  8. red states rule
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    red states rule Senior Member

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    'Fat Cat' Matt Whines 'Rich Get Richer'
    Posted by Geoffrey Dickens on April 26, 2007 - 14:40.
    Leave it to NBC's Today show to find the downside of a booming stock market. Playing the class envy card Today co-host Matt Lauer teased a story on a widening gap between rich and poor as he incredulously asked the audience: "Do you feel like you're working harder and harder these days just to stay financially afloat while fat cats get richer and richer?" Lauer, not exactly a pauper himself, then threw it to CNBC's Scott Cohn who claimed: "Not only are the rich getting richer they're leaving everyone else behind. In fact the last time the rich were this much richer than everyone else was the Great Depression."

    Cohn did mention the wealthy are giving more to charity but only highlighted liberal billionaire Bill Gates' good deeds.

    The following is the full story as it occurred on the April 26th Today show:

    Matt Lauer: "Do you feel like you're working harder and harder these days just to stay financially afloat while fat cats get richer and richer? It's not just a feeling and you're not alone. The story now from CNBC's Scott Cohn."

    [On screen headline: "Share the Wealth? The Rich Get Richer."]

    Scott Cohn: "Richard David Story is feeling it. The editor-in-chief of American Express's magazine for its most elite card members. He's on a constant quest for the glitziest, glamorous. For an audience that just keeps wanting more."

    Richard David Story, Departures magazine: "They're looking for that one perfect bottle of wine. They're looking for that one perfect not hotel room, not suite, that one perfect villa and they're extremely demanding right now."

    Cohn: "They can afford to be with a record stock market and hedge funds creating a new crop of billionaires. But then there's the rest of us."

    Man: "The rich do keep getting rich and the poor keep getting poorer."

    Woman: "I can make ends meet but I have to think about it more."

    Cohn: "Not only are the rich getting richer they're leaving everyone else behind. In fact the last time the rich were this much richer than everyone else was the Great Depression. A University of California study shows the top one percent of Americans now make 22 percent of the nation's income - their biggest piece of the pie since 1929. While middle-class Americans, by in large, are stuck. Rising energy prices cancelling out any increase in wages."

    Robert Greenstein, Center On Budget and Policy Priorities: "It makes it harder to achieve the basics of the American dream for the millions of families that get up, work hard, play by the rules everyday."

    Cohn: "Like a house. For all the talk of a slowdown the National Association of Realtors says homes are still less affordable as a percentage of family income than they were three years ago. Not that there's anything wrong with being rich and Richard David Story says he's writing more and more about the newest trend among the wealthy, philanthropy. Following the lead of billionaires like Bill Gates the rich getting so rich they have money to give away. For Today, Scott Cohn, NBC News, New York."
    http://newsbusters.org/node/12336
     
  9. Diuretic
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    Diuretic Permanently confused

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    Okay already! I subscribed to the Wall Street Journal - what more can I do? :lol:
     
  10. actsnoblemartin
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    actsnoblemartin I love Andrea & April

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    I read it, its preety boring, where's my sports page? :eusa_naughty:
     

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