DOW just broke 10,000 :)

[PLYMCO_PILGRIM]

Just figured I'd share some good news.

The DOW industrial index is over 10k right now

Maybe there is hope for change after all

Dow Jones Indexes | Welcome

 

[Modbert]

*Cue gold being brought up*

3..2..1.

 

[Mad Scientist]

Imagine if John McCain had won the election with unemployment at almost 10 percent while the Stock Market gains:

"He only cares about business and Wall Street! He hates the common working man!" The Dems would demand his impeachment.

When job creation starts happening I'll believe the economy has turned around.

 

[Shep Dawg]

Yes, because unemployment is a lagging indicator. The economy is turning around already. Don't sweat it, the jobs will follow.

 

[JakeStarkey]

MadScientist, listen to Shep Dawg. He is right. The market is turning around. And if oil converts to euros instead of dollars, get ready for an employment boom and very expensive gas.

 

[Elutherian]

Mark my word, this ain't gonna last long. You can't print trillions of dollars and expect no consequences.

The new meaning of recovery: The Rich get bailed out, the Poor get fucked up the ass.

 

[Cold Fusion38]

Hey 10,000 sure is better than 6,000. If the trend during the Bush admin had continued we would be at about 2,000!!! What if it breaks 11,000? What if it breaks 12,000? What if it breaks 14,000 by the end of next year? I guess that will be a BUSH sucess!

 

[Cold Fusion38]

Well let's hear it!!!

 

[PLYMCO_PILGRIM]

Well i think it will last a while. There is a bunch of stimulus money scheduled to go out starting in january and progressively increasing right up through the 2010 elections, just in time to get all the incumbents re-elected.


however once the defecit from all this stimulus spending catches up with us (mid 2012) we will see it get worse than what happened under bush.

I'll enjoy it for now, short market strategy.

 

[Paulie]

Mark my word, this ain't gonna last long. You can't print trillions of dollars and expect no consequences.

The new meaning of recovery: The Rich get bailed out, the Poor get fucked up the ass.

The Fed hasn't printed "trillions". Just to clarify.

 

[Elutherian]

Mark my word, this ain't gonna last long. You can't print trillions of dollars and expect no consequences.

The new meaning of recovery: The Rich get bailed out, the Poor get fucked up the ass.

The Fed hasn't printed "trillions". Just to clarify.

True enough... they created artificial credit, which does the same thing.

 

[JakeStarkey]

The GOP borrowed, and the Dems used to tax. If the market breaks 14,000 thousand by 1 October next year, the GOP will become a permanent minority party.

 

[Paulie]

Mark my word, this ain't gonna last long. You can't print trillions of dollars and expect no consequences.

The new meaning of recovery: The Rich get bailed out, the Poor get fucked up the ass.

The Fed hasn't printed "trillions". Just to clarify.

True enough... they created artificial credit, which does the same thing.

They've increased the monetary base by about 1 trillion since the recession started...here's the current chart:

This means that excess bank reserves have been increased by no more than that much, but the base includes demand deposits as well. So the amount of reserves created is of course less than 1 trillion.

The Fed's balance sheet is comprised of less than 3 trillion dollars in assets.

Basically, if all banks were to loan out all excess reserves, just for the sake of argument, we're looking at less than 1 trillion dollars entering the economy chasing goods and services.

I may be off on the exactness of that, and if Toro could chime in to correct me it would be appreciated.

 

[Zander]

A little over a year ago the DOW was at 10k. a little over 2 years ago it was at 14000. Excuse me if I don't get too excited about a suckers rally.

 

[Cold Fusion38]

The point is at the height of it's freefall during Bush we would be LUCKY to be at 2,000. Bush and the REps fed up the econonmy so bad that we were in real danger of having a DOW at ZERO!

 

[Skull Pilot]

I have no faith that this means anything.

We are probably in for a recession with a "W" shaped graph rather than the "V" shaped graph.

 

[Cold Fusion38]

I am just glad that it's going up....I want my in-laws be able to do what they WANT do during retirement. MY FATHER IN LAW HAS ALREADY PUT OFF RETIREMENT FOR A FEW YEARS AND MY MOTHER IN LAW CAN'T FIND ANYTHING. What ci is going to hire someone that is only going to work two or three years. I HOPE THE DOW GOES BACK UP SO THEY CAN LIVE THE LIFE THEY WANT! I hope they can travel and explore new places throughout the world and I hope when he goes he is chewing the LAST piece of gum out of the last pack of gum he owns. I and my wife will not fight for ANYTHING from the estate. If they leave us something fine and good( and I KNOW they will) but it will be iron clad to avoid any bad feelings.

 

[PLYMCO_PILGRIM]

A little over a year ago the DOW was at 10k. a little over 2 years ago it was at 14000. Excuse me if I don't get too excited about a suckers rally.

If you are paying attention and don't mind shorting you can make some money, just look at what the administrations agenda wants done and where the stimulus money is going for some places for short term buy and sell stock trading.

 

[Cold Fusion38]

OH O.K. now you are bitching because it has REBOUNDED from BUSH'S miserable performance to over 10,000 in less than ONE YEAR since Obama took office. WOW you really are a partisan hack aren't you?

 

[Old Rocks]

I am just glad that it's going up....I want my in-laws be able to do what they WANT do during retirement. MY FATHER IN LAW HAS ALREADY PUT OFF RETIREMENT FOR A FEW YEARS AND MY MOTHER IN LAW CAN'T FIND ANYTHING. What ci is going to hire someone that is only going to work two or three years. I HOPE THE DOW GOES BACK UP SO THEY CAN LIVE THE LIFE THEY WANT! I hope they can travel and explore new places throughout the world and I hope when he goes he is chewing the LAST piece of gum out of the last pack of gum he owns. I and my wife will not fight for ANYTHING from the estate. If they leave us something fine and good( and I KNOW they will) but it will be iron clad to avoid any bad feelings.

Exactly the way I felt about my parents. Told them to spend every cent on enjoying themselves, they had earned it, and that would make us kids far more happy than recieving money that they did not use.

In three weeks, I will be 66. And will continue working until the real estate market comes back. And that is physically painful, as I work as a millwright in a steel mill. I really don't know if I can do another summer at that job.

One of my co-workers, an electrician has a major heart problem. Like myself, he has a wife much younger than he is, and she is on Chemo right now for a cancer. If he quits his job, her healthcare ends. And his pension, military pension, and SS puts him in the category of making too much for Medi-Aid, but not enough, obviously, to pay for his wife's care.

My own problems are pretty damned miniscule compared to his. So many like this. We do not take care of our old people worth a damn.