Another Day - Another Record on Wall Street

[red states rule]

The Dow and US economy keeps rolling along. I remember during the 04 election, Dems and Bush haters were saying how rotten the economy was



Dow: Longest bull run in 80 years
Blue-chip gauge matches 1927 record for longest up streak; Alcoa bid for Alcan, falling oil help.
By Rob Kelley, Alexandra Twin and Grace Wong, CNNMoney.com staff writers
May 7 2007: 4:15 PM EDT


NEW YORK (CNNMoney.com) -- The Dow industrials ended at another all-time high Monday, closing with gains for the 24th out of 27 sessions - a streak that matched an 80-year-old record on Wall Street.

The Dow Jones industrial average (up 47.54 to 13,312.16, Charts) gained nearly 0.4 percent after briefly hitting an intraday record of 13,317.69. It was the fifth straight record close for the average.

The 30-share Dow has now risen in 24 of the last 27 sessions, matching its longest bull run in history, last achieved in the summer of 1927, according to Dow Jones. Should the Dow end higher on Tuesday, it would set a new record.

http://money.cnn.com/2007/05/07/markets/markets_0405/index.htm?postversion=2007050716

 

[Vintij]

Did they tell you that the Value of the US dollar is at an alltime low? Did they tell you that the Euro is at an alltime high?

Does the Dow jones tell you that the stock market has nothing to do with federal defecit which is at an all time high thanks to Bush's war spending and lack of domestic health care policy, lack of Big oil company profit limiting at the expense of the US citizens pocket book?

If the dow jones is so high due to the republican party, (actually its mostly thankful to foreign trading and US goods value) Then why cant president bush put a cap on Oil profits? Why cant he control the outragous oil prices, why cant he use the momentum from the surging market to create an even larger economy by funding clean and CHEAP energy alternatives that every american can get there hands on?

A surging market is profitable to companys, not individual american classes. It does not help me, does not help my pocket book, does not help my health care, does not help my job status.
It just means, america is spending, and the government is very happy to tax that. Big deal.

 

[red states rule]

Did they tell you that the Value of the US dollar is at an alltime low? Did they tell you that the Euro is at an alltime high?

Does the Dow jones tell you that the stock market has nothing to do with federal defecit which is at an all time high thanks to Bush's war spending and lack of domestic health care policy, lack of Big oil company profit limiting at the expense of the US citizens pocket book?

If the dow jones is so high due to the republican party, (actually its mostly thankful to foreign trading and US goods value) Then why cant president bush put a cap on Oil profits? Why cant he control the outragous oil prices, why cant he use the momentum from the surging economy to create an even larger economy by funding clean and CHEAP energy alternatives that every american can get there hands on?

The Federal deficit is shrinking as tax revenues to the Federal Treasury are at record highs

Remember how libs whined tax cuts would starve the government of "vital" funding?

 

[Mace]

This Euro being at an all time high and the US dollar low sucks. Goin to Germany in about a week and $400 only got like 250 in Euros.

Besides that, the economy seems okay to me. Not my subject but unemployment isn't that high and things are rolling right along.

 

[red states rule]

This Euro being at an all time high and the US dollar low sucks. Goin to Germany in about a week and $400 only got like 250 in Euros.

Besides that, the economy seems okay to me. Not my subject but unemployment isn't that high and things are rolling right along.

Thanks to tax CUTS

 

[Vintij]

Thanks to tax CUTS

Dont get me wrong I love tax cuts. But when we are in debt like we are, (thanks to the war passing the trillion dollar mark) those tax cuts dont look so good for the ones who eventually have to lower that Federal Deficit.

 

[Mace]

Thanks to tax CUTS

Not just because of tax cuts tho they helped. Bush seems like a reagonomics fan and though his idea helped the economy it also led to the biggest government debt in US history at that time and ended in a hard slow down later on when things didn't turn out like planned.

 

[red states rule]

Dont get me wrong I love tax cuts. But when we are in debt like we are, (thanks to the war passing the trillion dollar mark) those tax cuts dont look so good for the ones who eventually have to lower that Federal Deficit.

The annual US deficit is down over 50% and is getting smaller

 

[bush lover]

We need to move more manufacturing to China and elsewhere so that we can keep buying products cheaply. That will help keep inflation and the dollar low. By extension, interest rates will remain low and we can finance more purchases very cheaply. We need to export our car, food, aircraft and other industries to China so all of these products will be cheap forever. We can pay for these products in dollars, which we can simply print. There will never be inflation because China is a low-cost producer. We just pay China 4% a year in interest, forever. We can finance endless tax cuts, rebates, whatever. It's a great deal. If China becomes too expensive, then we move our factories to India. We Americans can then really enjoy the fruits of our labor and prosperity. The easy life, forever. And our President Bush has shown us the way. I just wish he could run again!

 

[Mace]

What happens when china gets a middle class with their huge pop and can buy their own products. What happens to jobs, they can't all be in the service sector and we are being outpaced by the asian countries in tech people it almost seems. What happen when it doesn't work out.

 

[JeffWartman]

Except for the fact that the Dow has almost nothing to do with the overall health of the U.S. economy.

The economy isn't in terrible shape, but it's not the miracle you make it out to be. Learn economics before you speak.

 

[red states rule]

Not just because of tax cuts tho they helped. Bush seems like a reagonomics fan and though his idea helped the economy it also led to the biggest government debt in US history at that time and ended in a hard slow down later on when things didn't turn out like planned.

Reagonomics does work

Tax cuts do NOT cause deficits - spending does

Revenue to the US Treasury DOUBLED in the eight years Reagan was President to over $1 trillion

As of today, revenue to the US Treasury is at record levels

 

[red states rule]

This Euro being at an all time high and the US dollar low sucks. Goin to Germany in about a week and $400 only got like 250 in Euros.

Besides that, the economy seems okay to me. Not my subject but unemployment isn't that high and things are rolling right along.

The liberal media are doing all they can to talk down the good economy

Sawyer Frets Gas Will Continue to Climb, Stock Market Will Crash
Posted by Mark Finkelstein on May 8, 2007 - 09:58.
With gasoline prices going up, Diane Sawyer worries they will continue to rise. With stock prices going up, the same Sawyer worries they will experience a crash of historic proportions.

Sawyer's guest on Good Morning America today at 7:15 AM EDT was Mellody Hobson, a GMA financial contributor. Here's how Sawyer kicked things off.

GMA CO-HOST DIANE SAWYER: Will runaway gas prices keep soaring, and did you know that the stock market has hit a milestone reminiscent of what happened before the big Crash? Let's start with gasoline prices. On Monday the average price of gasoline hit $3.05 per gallon, just two cents less than the record. . . Is this going to keep happening, keep going up?

GMA FINANCIAL CONTRIBUTOR MELLODY HOBSON [trying to calm Diane down]: Well, gas prices are basically a story of supply and demand. Demand has been consistent and very strong. Supply has been interrupted because about a dozen refineries around the world have had problems. It's just basically a case of bad luck, all at the same time. That's decreased supply and that has led to prices being up. . . But before anyone panics, I would say, calm down. We've had a one time case of bad luck here, even with the wildcard of the Middle East out there. I would suspect things will settle down from here and even thought we're entering the peak driving season with American families taking their vacations, I don' think we'll see a lot more in terms of prices rising from here.

SAWYER: OK, but what about the stock market? Even with the rising gas prices the stock market is still going crazy, and as we said 1929 was the big crash, and this is reminiscent of what happened before that.
After Hobson expressed concerns about the market, describing it as having defied gravity, Sawyer was quick to draw a gloomy inference: "So once again, Mellody says it cannot go on forever. Beware, and be aware out there."

Oddly, though Sawyer twice alluded to the current market exhibiting behavior "reminiscent" of the Big Crash of 1929, neither she nor Hobson ever told us what that behavior is.

Meanwhile, what would explain Sawyer's predilection to imagine the worst: gas prices continuing to rise, stock markets crashing? Do you think she's be so gloomy if a Dem were in the White House?

http://newsbusters.org/node/12593