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Gosh, I seem to recall a great big old yawn from the Left when the stock market hit 12,000 and 13,000 and 14,000 under Bush. They seemed more interested in job growth...and looky at the numbers coming out today!
Kind of puts a damper on the stock market numbers......doesn't it?
Oct. 8 (Bloomberg) -- The dollar slid below 82 yen for the first time since 1995, while Treasuries and stocks rose, as a decrease in U.S. jobs bolstered speculation the Federal Reserve will buy more debt to stimulate the economy. Corn, soybeans and wheat surged on concern over supplies.
The dollar slid as much as 0.8 percent to 81.73 yen and the yield on the 10-year Treasury note slipped 4 basis points to 2.34 percent. The Standard & Poor’s 500 Index climbed 0.2 percent to 1,160.62 at 11:04 a.m. in New York. Corn, soybean and wheat prices surged by the maximum permitted on the Chicago Board of Trade after the U.S. Department of Agriculture reduced its estimates of supply.
The Labor Department report that the nation lost 95,000 jobs last month was the latest evidence that the recovery from the recession may be faltering. The data signals the Fed may buy $1.2 trillion of Treasuries as a way to inject more cash into the economy and spur growth,....
Just because the Dow hits 11,000 does not mean job increases from unemployed are going to follow.
The future of the economy is still far from certain. Farm payrolls dropped more than expected while private hiring increased, which sends mixed signals.
Being happy about the Dow is ridiculous. It means very little for the overall economy. Besides, it can flash crash back down to 10000 by the end of next week for all we know.
Gosh, I seem to recall a great big old yawn from the Left when the stock market hit 12,000 and 13,000 and 14,000 under Bush. They seemed more interested in job growth...and looky at the numbers coming out today!
Kind of puts a damper on the stock market numbers......doesn't it?
That was before the greedy Wall St. Bankers ran the economy into a ditch. I pulled my stuff out when it had dropped 10%. Matter of fact my financial adviser already had the word.
And this based on Bennie and the Inkjets throwing more money into the economy (QE2) ??
Pretty sad item to be ecstatic about isn't it ?
Actually it's based on a number of things. The Fed doing QE2 is one of them the other is we are at the start of Q3 earnings season. Alcoa reported last night after the market closed and beat expectations.
The stock market is as LEADING economic indicator and keep in mind many of the companies traded on the market are GLOBAL in the scope of their sales, revenue and operations. The GLOBAL economic picture right now is much more postive than the NATIONAL economic picture.
Just because the Dow hits 11,000 does not mean job increases from unemployed are going to follow.
The future of the economy is still far from certain. Farm payrolls dropped more than expected while private hiring increased, which sends mixed signals.
Being happy about the Dow is ridiculous. It means very little for the overall economy. Besides, it can flash crash back down to 10000 by the end of next week for all we know.
Being happy about the Dow is ridiculous if you are just a wage earner, of course it does nothing to hurt 401K accounts. But if you are an investor or speculator there is lot of be happy about.
Don't complain about the game if you only play it at the lowest levels.
The current economic conditions reward long term investing, speculation and risk taking. It does NOT reward wage earners and won't for the foreseeable future.
Jazzy hit it. As far as the stock indices go, I watch them with the same amount (very little) interest that I pay to "political experts" such as O'Reilly, Beck or Olberman, interesting, but not enlightening.
However, if you want some very good news about a TRUE ECONOMIC INDICATOR, orders for Class 8 trucks is UP. I could go back and look at the article again but I think it was in the mid 20% range.
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