General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDOW OVER 14,000! But, I thought our economy was doomed
after Pres. Obama was re-elected.
elfin
(6,262 posts)Myrina
(12,296 posts)... and the income-inequality gap will widen. Doesn't mean they're going to drop one thin dime to create more jobs, raise pay or increase bene's for average working joes, just that they'll have more dividend-dough to stash in the Caymans.
MoonRiver
(36,926 posts)VERY happy to see my portfolio going up!
Myrina
(12,296 posts)Kinda hard to be an investor as a single mom with a mortgage, a car payment & a teenager.
Can I trade stocks for ramen noodles?
MoonRiver
(36,926 posts)He's still working at 72, but fortunately for him, loves his job. Anyway, we're definitely NOT trust fund types.
Myrina
(12,296 posts)Well done. But, not everyone will benefit from the Dow spiking, was my point.
MoonRiver
(36,926 posts)But sometimes I feel like success from hard work gets negatively treated. Believe me, we are NOT in the 1 or 2 percent. We just have a nice nest egg, which will get nicer the longer my husband chooses to/can work.
I wish you the best
NightOwwl
(5,453 posts)401K retirement plan benefits.
The DOW is not just a playground for rich investors.
bulloney
(4,113 posts)At least that's what that Gloomy Gus picture from a recent Wall Street Urinal showed.
My generation doesn't have jobs that offers pensions really. Contributions to plans suck, if existent. Money is too tight to contribute anyway, especially with health care insurance costs. A growing number of us are contract workers.
Our retirement plan is waiting for our boomer parents to die before spending it all on health care.
Egalitarian Thug
(12,448 posts)loaf that they've stolen from the entire population that includes you?
Nye Bevan
(25,406 posts)Or if they buy more cars. It's good for car dealers.
Decide to build an extension to their mansions. Good for general contractors, plumbers, masons, electricians, etc.
See how it works?
Egalitarian Thug
(12,448 posts)to make it work.
Nye Bevan
(25,406 posts)When people feel richer, and more financially secure, they buy more stuff.
Egalitarian Thug
(12,448 posts)The system probably could work, but as it is, it is a cycle of diminishing returns that requires continual expansion to overcome the effects of that constant and unavoidable drain and it exists in a closed system. The result is inevitable.
former9thward
(32,030 posts)Nye Bevan
(25,406 posts)Interesting.
former9thward
(32,030 posts)People fell richer when they actually are richer.
NoOneMan
(4,795 posts)Nye Bevan
(25,406 posts)NoOneMan
(4,795 posts)Just because companies are squeezing out profits does not indicate the population is supplied with plentiful employment that pays a living wage.
PennsylvaniaMatt
(966 posts)Including my grandmother who worked as a public school teacher for 30 years. Her mutual fund took a beating in the 2008.
Johnny2X2X
(19,080 posts)Anyone who works for a living should have a retirement. Millions of middle class families do and therefore share in the gains that the markets have made under Obama. My modest nest egg has recovered from the Bush Great Recession quite nicely.
PennsylvaniaMatt
(966 posts)I know quite a few folks who used to criticize the movement in the stock market over the past 4 years under President Obama, but they completely block out of their minds, or forget, that the entire house of cards collapsed 4 months BEFORE President Obama even stepped foot into the Oval Office.
Republicans dug the whole, and are now criticizing Democrats for not climbing out fast enough!
Egalitarian Thug
(12,448 posts)to invest your own money in yourselves and your community than giving to an entirely extractive Wall Street con game.
dixiegrrrrl
(60,010 posts)Meaningless news if your retirement is tied to the market and you cannot sell to grab the profit now.
The hedge traders are making a mint on the upside and the downside, but not the working folks.
Kingofalldems
(38,461 posts)nationalized everything?
FSogol
(45,499 posts)former9thward
(32,030 posts)people said this did not reflect the real economy. People pointed out the low wage jobs and the fact real income had been stagnant. Now I guess it is different.
Nye Bevan
(25,406 posts)former9thward
(32,030 posts)The Dow was at 14,164 on October 9, 2007. I think W was in office then or do you have better information? Anyone serious about the market knows it is idiocy to give credit or blame to presidents when the Dow goes up or down. But people still like to do it (at least when it is in their favor).
Egalitarian Thug
(12,448 posts)and so on, this time it's our side that's doing it, so it's for a greater purpose or there is no other choice.
dkf
(37,305 posts)But back to 2007 isn't where we need to be. It's depressing to think we've been running in place for the last 5 years.
malaise
(269,093 posts)Ah well!!!
ChairmanAgnostic
(28,017 posts)do you think they call it White, anyways?
Oh, wait. Did we already have an election? And the market didn't collapse? And that Mayonasian meatier didn't wipe out all life on this flat earth, as a lesson from GOD because churches are gonna be forced to give abortishuns to all females on demand?
Well, I aint waitin until them UN troops in black hellychoppers break into my house to steal my guns just because some democrat party communist from kenya wants to take my bible and guns away from me! No sir! I'm gonna move to the new promised land, jest like Glenn promisiticated us true believers!