1. I checked FR yesterday to see what they were saying about the Dow.
Edited on Sat Aug-08-09 05:41 AM by mwb970
Answer: nothing. No threads about the market taking off, no threads about the North Korean rescue, no threads about the low unemployment figure. Just doom and gloom plus lies about health-care reform, along with the usual sappy religious crap.
They hate it when anything good happens to America and delight in disaster. They want America to fail so that Obama will be seen as a failure.
34. I'm still not seeing a lot of real economic activity
By that I mean making things and providing actual services. Betting 10,000 times both ways on whether some fool will pay off his subprime loan is not a service in the normal sense of the world. It is legalized theft.
AT&T - largest telecom company Alcoa - largest aluminum supplier Boeing - largest civilian areospace company Caterpillar - largest heavy industrial machine company Exxon Mobil - largest vertically integrated oil supplier General Electric - largest conglomerate Hewlett Packard - largest computer manufacturer Intel - largest semiconductor manufacturer Kraft Foods - largest consumer staple supplier Merck - largest pharmaceutical Coca-Cola - largest beverage company Walmart - largest retailer
Financial companies make up only 10% of the DOW and only 19% of broader S&P.
18. America festered for eight years under the BushCo blight...
I never expected her to get well overnight, after all the tearing down the neocons did.
The GOP is the "Big Clunker" now. Even Joe the Plumber is tired of all the GOPer's crap! Joe should have seen the writings on the walls, in all those stalls and halls!("For A Bad Time, Vote GOP!")("Arragghrrorwr!")("Call Larry, I812long")("Arragghrrorwr!")("Drill Baby Drill")("If you can read this you are pi$$ing on my foot!")("Arragghrrorwr!")("Dave Was Here!")
9. That's why the GOP Wall Street goons keep trying to undermine the recovery.
The more the Obama recovery takes hold, the more desperate they are to undermine it. They know if the economy is strong next year, it's over for the GOP in the midterm election.
That's why we were hearing this week about the "W" recovery, implying that in the next year there's going to be another big dip. It's wishful thinking on the part of those who missed every clue as the DOW fell from 14,000 to 7000, but now they're experts.
Wages and Salaries Fell 4.7%, Most On Record ISM Shows Recession Not Over Yet Office Volume Down 50% to 91%; Industrial Space at Decade Low; Retail Vacancies at 7.5% Jobs Contract 19th Straight Month More than 2,000 commercial properties in Maricopa County, Arizona in foreclosure Baltic Dry Index Down 17% for the Week, Worst Fall Since October Personal Bankruptcy Filings up 34.3 Percent compared to July 2008 Bank Failure #72: Community First Bank, Prineville, Oregon Freddie Mac: House Price Improvement "Largely Seasonal" Consumer Credit Declines in June Fannie Mae: $14.8 Billion Loss, Requests $10.7 Billion from Treasury Hotel RevPAR off 15.5 Percent Foreclosures: One Giant Wave, Still Building Geithner formally asks Congress to lift $12.1 trillion statutory debt limit, saying it could be breached as early as October Consumer Credit Falls At Double Expected Rate, $70 Billion Decline YoY Colonial BankGroup Faces Federal Investigation, FDIC To Be Appointed Receiver Shortly Last Week's Insiders Transactions: 5 Buys For $13.4 Million, 145 Sells For Over $1 Billion
We've papered over some problems using trillions of borrowed and printed dollars, but there are many signs that inflating more bubbles won't save us in the long term. If you live by the sword, you can die by the sword. I think the administration should be wary of hyping and gains in the Dow.
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