Dow approaches 13,000, and maybe a record to come
http://apnews.excite.com/article/20120208/D9SORQ480.html
By CHRISTINA REXRODE
NEW YORK (AP) - It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.
Now the Dow is within reach of the rarefied 13,000 mark - a level it hasn't seen since May 2008, four months before the financial system almost came apart.
A strong one-day rally - caused by a deal on bailout money for Greece, perhaps, or an unexpectedly positive economic report - could put it over the top.
What's more, the average is just a 10 percent rally from an all-time high. And 10 percent rallies can happen fast these days.
FULL story at link.
Party of NO! shits it's pants.
msongs
(67,441 posts)Fearless
(18,421 posts)bluestateguy
(44,173 posts)But Obama is destroying the economy.
OK, got it.
onehandle
(51,122 posts)If he wasn't such an enemy to business, it would already be 13,000.
Or something equally stupid will be said on Faux tomorrow.
jschurchin
(1,456 posts)dmallind
(10,437 posts)jschurchin
(1,456 posts)Or am I supposed to take your word for it?
Forget it man. I found it, and it's closer to 100,000,000.
http://answers.bloglines.com/Finance/how_many_americans_own_stocks
Some people just aren't smart enough to learn their lesson from 2008. But hey the world needs idiot's too.
jakeXT
(10,575 posts)Risk Factor Cause #4: Allowing the US economy to develop around the Finance, Insurance, and Real Estate Industries at the expense of all but the most productive industries (high tech) since the early 1980s
...
As I warned in my 2008 Harper's Magazine article, if our politicians try to maintain the FIRE Economy by use of the federal government's balance sheet, the country will run out of foreign credit before a new, sustainable FIRE-free, production-focused private sector economy can be established.
http://www.itulip.com/forums/showthread.php/21580-Year-of-the-Jump-Ball-Part-I-Payback-Eric-Janszen?p=220615#post220615
http://en.m.wikipedia.org/wiki/FIRE_economy
Selatius
(20,441 posts)I generally fear this is building a house on quicksand without full and rigorous reimplementation of the Glass-Steagall Act that was repealed in 1999 under the Financial Services Modernization Act signed into law by President Clinton.
octothorpe
(962 posts)This is going to wreck havoc on my simulated stock portfolio at at updown.com
I bet against the stock market and went a bit overboard with the short selling... There goes my imaginary million dollar portfolio. Think about what you did to me next time you're looking at your healthy 401k earning reports. SHAME ON YOU.
*I'm kidding about putting my fake portfolio ahead of the real world... Please don't hate me.
Yavin4
(35,445 posts)The economy is improving which removes the last rationale for voting against Obama, and since the Republicans were obstinate, they cannot claim ANY part of the success.
Thus, the faux outrage over contraception.
Myrina
(12,296 posts).... denied health care and children are still going hungry.
BobbyBoring
(1,965 posts)while we keep getting all these reports of good news, I'm not seeing any indication of it.