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Old 05-01-2012, 07:01 PM
 
6,555 posts, read 9,464,065 times
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Dow Jones average hits highest mark since `07 - latimes.com (http://www.latimes.com/business/la-fiw-stock-market-20120501,0,2593823.story?track=rss&utm_source=feed burner&utm_medium=feed&utm_campaign=Feed%3A+latime s%2Fbusiness+%28L.A.+Times+-+Business%29 - broken link)

How in the hell can the republicans still say that economy is going in the wrong direction with news like this this is just more good news for President Obama
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Old 05-01-2012, 07:22 PM
 
8,266 posts, read 10,692,012 times
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Dow hit a much higher mark in November 2007, right before the housing market crashed, we entered a global recession, DIJA dropped to 6 and change, unemployment went thru the roof, and government was trying to save large industries with infusions of bailout cash. Would you claim that highpoint was evidence of an economy moving in the right direction?

I'm not saying the economy isn't slowly moving in the right direction, but to take a high water mark for a market index as irrefutable evidence of it is somewhat of a reach.
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Old 05-01-2012, 08:00 PM
 
Location: MW
1,433 posts, read 993,808 times
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Quote:
Originally Posted by slackjaw View Post
Dow hit a much higher mark in November 2007, right before the housing market crashed, we entered a global recession, DIJA dropped to 6 and change, unemployment went thru the roof, and government was trying to save large industries with infusions of bailout cash. Would you claim that highpoint was evidence of an economy moving in the right direction?

I'm not saying the economy isn't slowly moving in the right direction, but to take a high water mark for a market index as irrefutable evidence of it is somewhat of a reach.
I like how you showed no partisanship. This forum needs more of that. Reps.
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Old 05-01-2012, 08:09 PM
 
Location: Hoboken
19,891 posts, read 16,293,030 times
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Lol, the stock market isn't the economy.
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Old 05-01-2012, 08:11 PM
 
2,313 posts, read 3,182,399 times
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Quote:
Originally Posted by DJboutit View Post
Dow Jones average hits highest mark since `07 - latimes.com (http://www.latimes.com/business/la-fiw-stock-market-20120501,0,2593823.story?track=rss&utm_source=feed burner&utm_medium=feed&utm_campaign=Feed%3A+latime s%2Fbusiness+%28L.A.+Times+-+Business%29 - broken link)

How in the hell can the republicans still say that economy is going in the wrong direction with news like this this is just more good news for President Obama

Just wait until Friday when you see a massive nosedive. In addition the tech bubble is about to burst
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Old 05-01-2012, 08:22 PM
 
Location: Cape Coral
5,495 posts, read 6,095,626 times
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The Fed has opened the flood gates to raise the value of risk assets. That doesn't mean the economy is soaring. It is in a feeble recovery as compared to other recoveries, even with the most stimulus from both the administration and the fed. As you pay more for food and gasoline and fuel oil you can thank the fed for devaluing the dollar. The dollar would be in free fall if not for the weakness of other currencies throughout the world. Withe millions more without jobs than when Obama took office how can anyone be touting the stock market.
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Old 05-01-2012, 08:23 PM
 
Location: NY
12,264 posts, read 9,423,388 times
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Quote:
Originally Posted by DJboutit View Post

How in the hell can the republicans still say that economy is going in the wrong direction with news like this this is just more good news for President Obama
Just read some economic statistics dude. I've had a wonderful time playing the market but this has nothing to do with economic recovery and everything to do with cheap money.
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Old 05-01-2012, 08:33 PM
 
16,711 posts, read 9,078,930 times
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Per a Wall Street Radio Report, Jobs that have been created since January 2009 have had a salary of 70% of the jobs that have been lost. 93% of people that lost a job and were fortunate enough to get a new job, did so with a job that paid less than their first job. More people are entering the workforce than jobs that are created. We have added 5 Trillion in debt in less than 4 years and no one wants to be an adult to fix Social Security and etc.

The economy has some weak spots to be concerned with.
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Old 05-01-2012, 11:02 PM
 
Location: Pluto's Home Town
9,995 posts, read 11,651,669 times
Reputation: 5580
Quote:
Originally Posted by slackjaw View Post
Dow hit a much higher mark in November 2007, right before the housing market crashed, we entered a global recession, DIJA dropped to 6 and change, unemployment went thru the roof, and government was trying to save large industries with infusions of bailout cash. Would you claim that highpoint was evidence of an economy moving in the right direction?

I'm not saying the economy isn't slowly moving in the right direction, but to take a high water mark for a market index as irrefutable evidence of it is somewhat of a reach.
Nice post. I think it is a good indicator of corporate profits, which are clearly rising. The problem is, those "job creators" would rather play the market than actually hire American workers. At least manufacturing is showing some life, perhaps good things will follow.

It just goes to show that corporate profit does not necessarily translate into good paying jobs. But it is a step in the right direction. With so many people int the market these days, a strong stock market makes folks feel wealthier, and that may fuel small business investment and consumer demand.
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Old 05-02-2012, 12:19 AM
 
10,783 posts, read 11,825,843 times
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Quote:
Originally Posted by DJboutit View Post
How in the hell can the republicans still say that economy is going in the wrong direction with news like this this is just more good news for President Obama
Because they are idiots
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