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DOW OVER 14,000! But, I thought our economy was doomed (Original Post) MoonRiver Feb 2013 OP
He sure is a crappy socialist. Eom elfin Feb 2013 #1
Yep MoonRiver Feb 2013 #3
All this means is that the incredibly rich will be richer ... Myrina Feb 2013 #2
I don't have any money in the Caymans but I do have retirement funds. MoonRiver Feb 2013 #4
Congratulations ... most of us don't have that luxury. Myrina Feb 2013 #6
My husband and I worked many decades to build our nest egg. MoonRiver Feb 2013 #10
... which is why I congratulated you. Myrina Feb 2013 #35
Ok, sorry if I took it personally. MoonRiver Feb 2013 #36
Anyone with a mutual fund or a NightOwwl Feb 2013 #12
I thought you single moms were making a quarter million a year, including $30,000 in investments bulloney Feb 2013 #34
I don't NoOneMan Feb 2013 #8
And you're overjoyed to get a flake off a crumb that the parasites dropped from the Egalitarian Thug Feb 2013 #17
How about if the incredibly rich eat out more. Won't this be good for waiters and chefs? Nye Bevan Feb 2013 #7
But as you well know it doesn't work. There are not enough of them to buy enough stuff Egalitarian Thug Feb 2013 #18
It's not a question of it "working" or "not working". Nye Bevan Feb 2013 #22
And continue the cycle of making the rich richer and the workers poorer. Egalitarian Thug Feb 2013 #26
Yes, the trickle down theory is still alive! former9thward Feb 2013 #21
So your theory is that people *don't* spend more money when they feel richer? Nye Bevan Feb 2013 #24
No one feels "richer" when the Dow goes past 14,000. former9thward Feb 2013 #25
I don't think the Dow is the sole measure of economic doominess NoOneMan Feb 2013 #5
Well...... what did the Dow do in the Great Depression? (nt) Nye Bevan Feb 2013 #9
"sole measure" NoOneMan Feb 2013 #16
This is great news for many middle class families PennsylvaniaMatt Feb 2013 #11
This Johnny2X2X Feb 2013 #13
Exactly... PennsylvaniaMatt Feb 2013 #14
See #17. You and your grandmother would both be far better off if you had the opportunity Egalitarian Thug Feb 2013 #20
Very good news IF you can sell and get out of the market before it dives again. dixiegrrrrl Feb 2013 #31
Freepers: Since Obama is a Commie, howcome he hasn't Kingofalldems Feb 2013 #15
Oh Noes!1!1 Socialism! FSogol Feb 2013 #19
When this happened during the Bush administration ... former9thward Feb 2013 #23
Er.... Bush took the Dow from 10587 to 7949 (nt) Nye Bevan Feb 2013 #27
My post said WHEN it happened. former9thward Feb 2013 #28
Yes but as with so many things, unlawful wars, corporate welfare, "extra-judicial" murders, Egalitarian Thug Feb 2013 #29
All the measures he took really did save the economy, ESP the stock market. dkf Feb 2013 #30
Amazing that there are people at DU who seem rather upset malaise Feb 2013 #32
Oh yeah? Just wait and see if that uppity ni is electorated into our White's house again! why do ChairmanAgnostic Feb 2013 #33

Myrina

(12,296 posts)
2. All this means is that the incredibly rich will be richer ...
Fri Feb 1, 2013, 02:36 PM
Feb 2013

... 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)
4. I don't have any money in the Caymans but I do have retirement funds.
Fri Feb 1, 2013, 02:37 PM
Feb 2013

VERY happy to see my portfolio going up!

Myrina

(12,296 posts)
6. Congratulations ... most of us don't have that luxury.
Fri Feb 1, 2013, 02:41 PM
Feb 2013

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)
10. My husband and I worked many decades to build our nest egg.
Fri Feb 1, 2013, 02:43 PM
Feb 2013

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)
35. ... which is why I congratulated you.
Fri Feb 1, 2013, 04:46 PM
Feb 2013

Well done. But, not everyone will benefit from the Dow spiking, was my point.

MoonRiver

(36,926 posts)
36. Ok, sorry if I took it personally.
Fri Feb 1, 2013, 09:44 PM
Feb 2013

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)
12. Anyone with a mutual fund or a
Fri Feb 1, 2013, 02:47 PM
Feb 2013

401K retirement plan benefits.

The DOW is not just a playground for rich investors.

bulloney

(4,113 posts)
34. I thought you single moms were making a quarter million a year, including $30,000 in investments
Fri Feb 1, 2013, 04:38 PM
Feb 2013

At least that's what that Gloomy Gus picture from a recent Wall Street Urinal showed.

 

NoOneMan

(4,795 posts)
8. I don't
Fri Feb 1, 2013, 02:42 PM
Feb 2013

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)
17. And you're overjoyed to get a flake off a crumb that the parasites dropped from the
Fri Feb 1, 2013, 03:02 PM
Feb 2013

loaf that they've stolen from the entire population that includes you?

Nye Bevan

(25,406 posts)
7. How about if the incredibly rich eat out more. Won't this be good for waiters and chefs?
Fri Feb 1, 2013, 02:42 PM
Feb 2013

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)
18. But as you well know it doesn't work. There are not enough of them to buy enough stuff
Fri Feb 1, 2013, 03:03 PM
Feb 2013

to make it work.

Nye Bevan

(25,406 posts)
22. It's not a question of it "working" or "not working".
Fri Feb 1, 2013, 03:09 PM
Feb 2013

When people feel richer, and more financially secure, they buy more stuff.

 

Egalitarian Thug

(12,448 posts)
26. And continue the cycle of making the rich richer and the workers poorer.
Fri Feb 1, 2013, 03:15 PM
Feb 2013

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.

 

NoOneMan

(4,795 posts)
16. "sole measure"
Fri Feb 1, 2013, 02:58 PM
Feb 2013

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)
11. This is great news for many middle class families
Fri Feb 1, 2013, 02:43 PM
Feb 2013

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)
13. This
Fri Feb 1, 2013, 02:48 PM
Feb 2013

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)
14. Exactly...
Fri Feb 1, 2013, 02:52 PM
Feb 2013

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)
20. See #17. You and your grandmother would both be far better off if you had the opportunity
Fri Feb 1, 2013, 03:06 PM
Feb 2013

to invest your own money in yourselves and your community than giving to an entirely extractive Wall Street con game.

dixiegrrrrl

(60,010 posts)
31. Very good news IF you can sell and get out of the market before it dives again.
Fri Feb 1, 2013, 04:26 PM
Feb 2013

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.


former9thward

(32,030 posts)
23. When this happened during the Bush administration ...
Fri Feb 1, 2013, 03:09 PM
Feb 2013

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.

former9thward

(32,030 posts)
28. My post said WHEN it happened.
Fri Feb 1, 2013, 03:24 PM
Feb 2013

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)
29. Yes but as with so many things, unlawful wars, corporate welfare, "extra-judicial" murders,
Fri Feb 1, 2013, 03:45 PM
Feb 2013

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)
30. All the measures he took really did save the economy, ESP the stock market.
Fri Feb 1, 2013, 03:55 PM
Feb 2013

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.

ChairmanAgnostic

(28,017 posts)
33. Oh yeah? Just wait and see if that uppity ni is electorated into our White's house again! why do
Fri Feb 1, 2013, 04:33 PM
Feb 2013

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!

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