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On March 6th 2009, at the bottom of the Great Recession of 2008, the Dow closed at 6,626.
Since then, the market has climbed an astounding 10,000 points!
Yes...that is what happens when you massively lever a balance sheet. This is exactly how the financial sector made so much money going up to 2008. Are you as unhappy about it as I am?
On March 6th 2009, at the bottom of the Great Recession of 2008, the Dow closed at 6,626.
Since then, the market has climbed an astounding 10,000 points!
Yes, the market went down way farther than it needed to, losing 42% in seven months before the bottom as capitalists digested the prospect of wealth redistribution, onerous regulation, wrenching changes to 1/6th of the economy, the war on conventional energy, union favoritism, higher taxes, antagonism toward (and ignorance of) business, and all the rest of the baggage of Barack Obama. From that artificial low point, the recovery in the stock market has been phenomenal as you note.
Too bad the employment market has not kept up with the stock market. The little guy and the middle class are getting hammered.
How many more Trillions does the Federal Reserve need to create out of thin air before other aspects of the economy start improving?
The majority of Americans own $0 in stocks. Everyone knows that Corporate profit is at an all time high but that doesn't mean that Corporations will suddenly start hiring people or reinvesting that money in communities. They are protecting their institutions and hoarding their cash for fear of a crash in the near future.
One measure of the economy, and one that has been fueled by the Federal Reserve's endless printing/buying schemes of the last 5 years. It's a bubble that will soon be getting popped by the inflation needle, because the Fed cannot contain the inflation beast forever.
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