Dow 14,000 - Liberal Media Reports Doom and Gloom

[uscitizen]

The stock market is an indicator of how those with money are doing.

Besides stocks once they are past the ipo are only worth what someone else is willing to pay for them. Kinda like trading baseball cards.

And unless you buy it from the issuing company you are not investing in that company, just trading "baseball cards".

 

[gonegolfin]

You did not answer the question.

RSR cannot answer the question because he does not understand the concept of measuring the Dow in real value (as most Americans also do not). The monetary system is totally foreign to him.

Brian

 

[gonegolfin]

If you pay taxes - you got a tax cut

The "rich" paid the most in taxes before the tax cut and they are paying the most in taxes after the tax cut

The top 1% pay 37% in federal income taxes

The bottom 50% pay only about 3% in federal income taxes

A very small minority are paying the taxes - yet libs want to smear them and soak them for more money

I am not arguing for a progressive tax system. In fact, I would argue for a minimalist flat structure. But only after our monetary system is cleaned up and the government is purged of waste.

But I would like to clarify that while many of the poor to lower middle class pay no or little federal income tax, they are taxed quite heavily ... where they cannot see it. And this hidden tax is more impactful on the poor to lower middle than the wealthier folks.

Brian

 

[Paulie]

I
But I would like to clarify that while many of the poor to lower middle class pay no or little federal income tax, they are taxed quite heavily ... where they cannot see it. And this hidden tax is more impactful on the poor to lower middle than the wealthier folks.

I assume you mean the Inflation Tax.

It's not one that's listed on your pay stub, but it affects each and every one of us EVERYDAY.

When you purchase something, especially something that you paid less for, say, last year, you just paid Inflation Tax.

The lowest income levels are the ones who have been paying for it the most, while the Dollar continues to be worth less and less as the Fed pumps more of them into the system out of thin air.

Just because consumer spending may SEEM to be steady or increasing, doesn't mean that the economy is doing good. It's the Buying Power that has been declining, and that really affects the lower income levels the most.

It is near impossible for an average American that lives comfortably financially, especially upper class, to even notice a bad economy.

RSR, if you're reading this, what is your occupation, if you don't mind me asking?

 

[Toro]

Eh, going from 13k to 14k in three months is...okay, I guess. But we really could be doing better. Take Zimbabwe, for instance:



Hopefully the administration is taking notes from Zimbabwe's playbook, so we'll see spectacular gains like this in the future.

Yup

http://runningofthebulls.typepad.com/toros_running_of_the_bull/2007/06/zimbabwe_the_be.html

 

[Toro]

and the doom and gloomers like you have been saying the "crash" would come anday now

the housing bubble will burst

a recession is looming

There is paralysis in parts of the bond market right now.

 

[Toro]

Amazing

Pres Bush has similar or better economic numbers then Clinton and the Bush haters say the economy stinks

During the Clinton years - the same people were sayign we were in an economic Heaven

Clinton - deficit goes down.
Bush - deficit goes up.

The more you borrow now, the richer you feel now. The poorer you are in the future.

 

[Truthmatters]

Market Dispatches - MSN Money


Yeah things are just great.

me predicting some trouble in the housing market

 

[Truthmatters]

Housing worries clobber stocks
The Dow falls more than 226 points, its worst one-day loss since March, as housing woes slam financial and building stocks. Apple tumbles on iPhone concerns. A credit crunch may be emerging. But Amazon.com soars on a great earnings report.

Latest Market Update
July 24, 2007 -- 16:20 ET
[BRIEFING.COM] The major averages took a beating Tuesday as everything from heightened subprime concerns to warnings further underscoring signs it may take longer than anticipated for the housing correction to subside ushered in the latest wave of... More

MoreStocks plunged today amid deepening worries about the health of the housing markets and disappointing earnings reports.

But a great earnings report from Amazon.com (AMZN, news, msgs) that sent shares soaring more than 20% in after-hours trading may ease the fears when the market opens in the morning.

Today, however, fear ruled. The Dow Jones industrials fell about 226 points, 1.6%, to just under 13,717, their second loss of more than 140 points in three trading sessions and their worst one-day point loss since March 13, when it tumbled 242 points. Twenty-nine of the 30 stocks in the blue-chip index were lower on the day.

The Standard & Poor's 500 Index had its worst one-day point loss since Feb. 27, falling nearly 31 points to 1,511. Only 30 of the 500 stocks in the index were higher on the day.

The Nasdaq Composite Index dropped nearly 51 points to 2,640, thanks in part to a 6.1% decline to $134.89 for Apple (AAPL, news, msgs) after an earnings report from AT&T (T, news, msgs) suggested early sales of Apple's iPhone weren't as robust as thought. AT&T has an exclusive deal to sell the iPhone. Apple reports third-quarter earnings after tomorrow's close.

http://articles.moneycentral.msn.com...24markets.aspx

see

 

[Truthmatters]

7/24/07


got called a doom and gloomer by the right wing

 

[Sallow]

We have now removed ALL doubts as to the affects of tax cuts. They have spurred one of the greatest economic runs in history!

They absolutely have not.

Quite the opposite. They came very close to causing a complete economic meltdown.

 

[Truthmatters]

And I like I said was warning about the impending huge problem

 

[Truthmatters]

It has since set several all time record highs

On a related note, I have recently acquired more land than I ever thought I would be able to afford. I had been stuck at 20,000 sq/ft. for a while, but now this new surveyor I hired tells me I actually own 100,000 sq/ft. He estimates that by year's end, I could be up to 150,000. Wow!

Other surveyors don't seem to agree, pointing out that I haven't actually done any real estate transactions, blah blah doom and gloom. Well I say, give me some more of that gloom and doom, mister! They also said something about my surveyor using a measuring tape that steadily shrinks over time, especially if you run it through the washing machine like he has recently. Whatever, that's just jealous people who hate the fact that I'm going to have my own ranch 20 years from now.



edit: I just checked the value of my 100,000 sq/ft. spread on a real estate website. Turns out it's worth just over a MILLION pesos. Ha ha, take THAT, suckers! Keep crying about your doom and gloom from your stuffy little cubicles, I will be soaking up sunshine and margaritas in Aruba! Boy I can't wait to tell my boss to piss off tomorrow morning.

bragging about buying at the top of the market.

poor fool

 

[Truthmatters]

Amazing

Pres Bush has similar or better economic numbers then Clinton and the Bush haters say the economy stinks

During the Clinton years - the same people were sayign we were in an economic Heaven

Clinton - deficit goes down.
Bush - deficit goes up.

The more you borrow now, the richer you feel now. The poorer you are in the future.

even toro saw it back then.

he climbed right back into the box a couple of years later

 

[Rozman]

Amazing

Pres Bush has similar or better economic numbers then Clinton and the Bush haters say the economy stinks

During the Clinton years - the same people were sayign we were in an economic Heaven

Clinton - deficit goes down.
Bush - deficit goes up.

The more you borrow now, the richer you feel now. The poorer you are in the future.

Clinton - deficit goes down.
Bush - deficit goes up.
Obama - on our way to $20 trillion in debt and the president says it's cool!

 

[Truthmatters]

hey idiot you guys made the mess and then expect the black man to clean it up without anhy cost?

 

[EdwardBaiamonte]

this hidden tax is more impactful on the poor to lower middle than the wealthier folks.

the liberal must hide taxes to survive. If Americans paid all of their tax once a year out of their pockets directly who would ever vote liberal again??

 

[JakeStarkey]

Our reactionary here on the Board predict gloom and doom.