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Fri Feb 1, 2013, 01:34 PM

DOW OVER 14,000! But, I thought our economy was doomed

after Pres. Obama was re-elected.

36 replies, 1637 views

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Arrow 36 replies Author Time Post
Reply DOW OVER 14,000! But, I thought our economy was doomed (Original post)
MoonRiver Feb 2013 OP
elfin Feb 2013 #1
MoonRiver Feb 2013 #3
Myrina Feb 2013 #2
MoonRiver Feb 2013 #4
Myrina Feb 2013 #6
MoonRiver Feb 2013 #10
Myrina Feb 2013 #35
MoonRiver Feb 2013 #36
NightOwwl Feb 2013 #12
bulloney Feb 2013 #34
NoOneMan Feb 2013 #8
Egalitarian Thug Feb 2013 #17
Nye Bevan Feb 2013 #7
Egalitarian Thug Feb 2013 #18
Nye Bevan Feb 2013 #22
Egalitarian Thug Feb 2013 #26
former9thward Feb 2013 #21
Nye Bevan Feb 2013 #24
former9thward Feb 2013 #25
NoOneMan Feb 2013 #5
Nye Bevan Feb 2013 #9
NoOneMan Feb 2013 #16
PennsylvaniaMatt Feb 2013 #11
Johnny2X2X Feb 2013 #13
PennsylvaniaMatt Feb 2013 #14
Egalitarian Thug Feb 2013 #20
dixiegrrrrl Feb 2013 #31
Kingofalldems Feb 2013 #15
FSogol Feb 2013 #19
former9thward Feb 2013 #23
Nye Bevan Feb 2013 #27
former9thward Feb 2013 #28
Egalitarian Thug Feb 2013 #29
dkf Feb 2013 #30
malaise Feb 2013 #32
ChairmanAgnostic Feb 2013 #33

Response to MoonRiver (Original post)

Fri Feb 1, 2013, 01:36 PM

1. He sure is a crappy socialist. Eom

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Response to elfin (Reply #1)

Fri Feb 1, 2013, 01:36 PM

3. Yep

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 01:36 PM

2. All this means is that the incredibly rich will be richer ...

... 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.

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Response to Myrina (Reply #2)

Fri Feb 1, 2013, 01:37 PM

4. I don't have any money in the Caymans but I do have retirement funds.

VERY happy to see my portfolio going up!

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Response to MoonRiver (Reply #4)

Fri Feb 1, 2013, 01:41 PM

6. Congratulations ... most of us don't have that luxury.

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?

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Response to Myrina (Reply #6)

Fri Feb 1, 2013, 01:43 PM

10. My husband and I worked many decades to build our nest egg.

He's still working at 72, but fortunately for him, loves his job. Anyway, we're definitely NOT trust fund types.

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Response to MoonRiver (Reply #10)

Fri Feb 1, 2013, 03:46 PM

35. ... which is why I congratulated you.

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

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Response to Myrina (Reply #35)

Fri Feb 1, 2013, 08:44 PM

36. Ok, sorry if I took it personally.

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

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Response to Myrina (Reply #6)

Fri Feb 1, 2013, 01:47 PM

12. Anyone with a mutual fund or a

401K retirement plan benefits.

The DOW is not just a playground for rich investors.

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Response to Myrina (Reply #6)

Fri Feb 1, 2013, 03:38 PM

34. I thought you single moms were making a quarter million a year, including $30,000 in investments

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

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Response to MoonRiver (Reply #4)

Fri Feb 1, 2013, 01:42 PM

8. I don't

 

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.

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Response to MoonRiver (Reply #4)

Fri Feb 1, 2013, 02:02 PM

17. And you're overjoyed to get a flake off a crumb that the parasites dropped from the

 

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

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Response to Myrina (Reply #2)

Fri Feb 1, 2013, 01:42 PM

7. How about if the incredibly rich eat out more. Won't this be good for waiters and chefs?

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?

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Response to Nye Bevan (Reply #7)

Fri Feb 1, 2013, 02:03 PM

18. But as you well know it doesn't work. There are not enough of them to buy enough stuff

 

to make it work.

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Response to Egalitarian Thug (Reply #18)

Fri Feb 1, 2013, 02:09 PM

22. It's not a question of it "working" or "not working".

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

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Response to Nye Bevan (Reply #22)

Fri Feb 1, 2013, 02:15 PM

26. And continue the cycle of making the rich richer and the workers poorer.

 

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.

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Response to Nye Bevan (Reply #7)

Fri Feb 1, 2013, 02:07 PM

21. Yes, the trickle down theory is still alive!

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Response to former9thward (Reply #21)

Fri Feb 1, 2013, 02:11 PM

24. So your theory is that people *don't* spend more money when they feel richer?

Interesting.

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Response to Nye Bevan (Reply #24)

Fri Feb 1, 2013, 02:13 PM

25. No one feels "richer" when the Dow goes past 14,000.

People fell richer when they actually are richer.

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 01:40 PM

5. I don't think the Dow is the sole measure of economic doominess

 

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Response to NoOneMan (Reply #5)

Fri Feb 1, 2013, 01:43 PM

9. Well...... what did the Dow do in the Great Depression? (nt)

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Response to Nye Bevan (Reply #9)

Fri Feb 1, 2013, 01:58 PM

16. "sole measure"

 

Just because companies are squeezing out profits does not indicate the population is supplied with plentiful employment that pays a living wage.

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 01:43 PM

11. This is great news for many middle class families

Including my grandmother who worked as a public school teacher for 30 years. Her mutual fund took a beating in the 2008.

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Response to PennsylvaniaMatt (Reply #11)

Fri Feb 1, 2013, 01:48 PM

13. This

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.

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Response to Johnny2X2X (Reply #13)

Fri Feb 1, 2013, 01:52 PM

14. Exactly...

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!

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Response to PennsylvaniaMatt (Reply #11)

Fri Feb 1, 2013, 02:06 PM

20. See #17. You and your grandmother would both be far better off if you had the opportunity

 

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

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Response to PennsylvaniaMatt (Reply #11)

Fri Feb 1, 2013, 03:26 PM

31. Very good news IF you can sell and get out of the market before it dives again.

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.


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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 01:53 PM

15. Freepers: Since Obama is a Commie, howcome he hasn't

nationalized everything?

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 02:05 PM

19. Oh Noes!1!1 Socialism!

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 02:09 PM

23. When this happened during the Bush administration ...

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.

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Response to former9thward (Reply #23)

Fri Feb 1, 2013, 02:18 PM

27. Er.... Bush took the Dow from 10587 to 7949 (nt)

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Response to Nye Bevan (Reply #27)

Fri Feb 1, 2013, 02:24 PM

28. My post said WHEN it happened.

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).

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Response to former9thward (Reply #23)

Fri Feb 1, 2013, 02:45 PM

29. Yes but as with so many things, unlawful wars, corporate welfare, "extra-judicial" murders,

 

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.

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 02:55 PM

30. All the measures he took really did save the economy, ESP the stock market.

 

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.

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 03:30 PM

32. Amazing that there are people at DU who seem rather upset

Ah well!!!

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Response to MoonRiver (Original post)

Fri Feb 1, 2013, 03:33 PM

33. Oh yeah? Just wait and see if that uppity ni is electorated into our White's house again! why do

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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