S&P 500 rose 70% in the last year

Discussion in 'Current Events' started by Chris, Mar 14, 2010.

  1. Chris
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    Chris Gold Member

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    Sunday, March 14, 2010

    U.S. stocks rose, pushing the Standard & Poor's 500-stock index to a 17-month high, as Citigroup led a rally among banks and report data boosted confidence that the economic recovery is sustainable.

    Citigroup rallied 13 percent on speculation that the U.S. government may sell its stake and on chief executive Vikram Pandit's statement that the bank will be consistently profitable.

    American International Group, the bailed-out insurer, surged 22 percent as it sold a division to MetLife for $15.5 billion. Home Depot rose 2 percent and McDonald's gained 2.9 percent as a U.S. retail sales report showed an unexpected increased in February.

    The S&P 500 climbed 1 percent to 1149.99 last week. It closed at 1150.24 on March 11, the highest level since October 2008, and has now surged 70 percent since its bear-market low on March 9, 2009. The Dow Jones industrial average gained 0.6 percent, to 10,624.69.

    Banks lead another week of stock market gains - washingtonpost.com
     
  2. Political Junky
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    Political Junky Gold Member

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    Gotta love that Obama surge.
     
  3. Toro
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    Toro Diamond Member

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    The stock market under Obama will do better than it did under Bush, but I would caution anybody from using stocks to reinforce or criticize a political agenda. Stocks often have a mind of their own and are usually influenced by forces outside the political arena. Plus, when governments do affect stocks, often times there are unintended consequences, and stocks can reverse when the stimulus wears off. I believe that the massive amounts of government intervention in the economy has mainly benefited stock and bond markets, not the real economy, and that the unintended consequences down the road are going to be hugely destabilizing.
     
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  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    US citizens regained $6 trillion in personal wealth (most due to stock increases) since Obama became President.

    How is that Hopey/Changey thing work'n for ya????
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    And his budget will add $5T+ to the debt - before ObamaCare and with very rosy GDP growth estimates which are unrealistic.

    The net impact for national net worth is negative.
     
  6. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    So the fact that Stocks dropped and came back up is a good thing?

    They are still low, comparatively speaking.

    Now if only you guys would want the economy to get better for the sake of working people instead of for Obama's popularity. That be really nice. Till then, let's not pretend people are somehow doing better than they really are.
     
  7. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Yes it is a good thing

    70% of Americans own stock either directly or through a retirement package. Ask retirees what they thought when their nest egg lost 60% of its value?

    Americans regained $6 trillion in lost wealth in the last year alone.
     
  8. Mr. H.
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    Mr. H. Diamond Member

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    The IRA is lookin' A-OK. :thup:
     
  9. uscitizen
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    uscitizen Senior Member

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    How many people are out of work?

    Until that changes we will still be in The Great Recession.
     
  10. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Great Recessions don't end overnight and jobs are the last thing to recover. It took Reagan over two years before the jobless rates dropped. Early indications are that more companies have reported they will hire in the spring.

    Hopefully, it will bring the unemployment rate down
     

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