Stocks come back to life as economy revives
Source: AP-EXCITE
By STEVE ROTHWELL
NEW YORK (AP) The U.S. stock market is back to setting records.
After treading water for most of March and April, stocks are nudging deeper into record territory and are closing in on milestones with big zeros attached to them. The Dow Jones industrial average is within 30 points of 17,000 while the Standard & Poor's 500 is just shy of 2,000 after rising 6 percent this year.
A harsh winter in the U.S. that hobbled growth made investors cautious. There were also worries about the conflict in Ukraine and slowing growth in China, the world's second-biggest economy.
But now the economy appears to be on track again and investors are rediscovering their appetite for stocks.
FULL story at link.
Read more: http://apnews.excite.com/article/20140620/us--dow_17-d6e4ad72b5.html
In this Friday, June 6, 2014 photo, Zack Adams delivers food to customers at Corky & Lenny's Restaurant & Deli in Woodmere Village, Ohio. Recent goods news on manufacturing and hiring has boosted confidence in the economy. Manufacturing is expanding at a healthy pace and the service industry continues to grow, according to surveys released by the Institute for Supply Management earlier this month.(AP Photo/Tony Dejak)
groundloop
(11,518 posts)elleng
(130,865 posts)with some cooperation from repugs! Infrastructure improvements?!
mac56
(17,566 posts)you are true there....
groundloop
(11,518 posts)I just nodded my head and said "yep, just look at what he's done to the stock market". The guy was clueless, just said something about 'yes, he's totally ruined everything'.
And I totally agree about how much better things could be if our congressional GOPers would allow funding to repair our crumbling infrastructure.
LeftyMom
(49,212 posts)If anybody convinces you that the health of the stock market reflects the overall prosperity of the nation, they've convinced you to carry water for the wealthy. Do not be fooled.
DeSwiss
(27,137 posts)...large wads of cash, and high frequency trading computers they have programmed to recreate a holographic reality that looks real! Oh, and Congress.
And it also doesn't hurt to try to secretly buy-up bank/corporate bonds before they go ka-blooie in a another Wall Street nose-dive -- and get everything all messy and yucky and stuff.
- But them chickens keep coming home no matter what they do......
"Cluster Of Central Banks" Have Secretly Invested $29 Trillion In The Market
AdHocSolver
(2,561 posts)The information at the link you provide helps explain how it works.
Reading the comments section at the link is also informative.
The stock market is NOT an indicator of the health of the REAL economy.
How quickly people forget Enron, as well as the boom-and-bust of the stock and real estate markets driven by "bad" mortgages and mortgage-backed securities.
The "value" of the Stock Market is based on the supposed validity of "trickle down economics" and the existence of Santa Clause and the Tooth Fairy.
In the current economic situation, the real winners in the stock market are the 1 percent who can manipulate stock prices by buying and selling large blocks of stock in a coordinated way.
http://www.zerohedge.com/news/2014-06-15/cluster-central-banks-have-secretly-invested-29-trillion-market
DeSwiss
(27,137 posts)AdHocSolver
(2,561 posts)The suckers (i.e., the non-1 percenters who "gamble" in the stock market) hold fast to the fiction that they can "beat" the system and come out the winner.
As in any gambling system, the house always comes out ahead by taking a cut of the gambled money. The 1 percent always comes out ahead. The money (the "capital gains" of the few winners among the 99 percent comes not from the 1 percent, but from the losses incurred by the losers among the other 99 percent.
The results are that some of the 99 percent make some "profit", a larger share of the 99 percent loses their "investment", and the billionaire players who rig the system take a big share of the losses of the 99 percent not won by the 99 percent that gained some "profit".
The 99 percent who refuse to see how the system is rigged are of the same mind-set as the climate change deniers. They refuse to understand the way the capitalist system actually works.
Their faith in the capitalist system is the same as the religious fundamentalists who believe that the Earth is 6,000 years old, and that Adam and Eve rode around on dynosaurs.
Interestingly, and unfortunately, the fiction of the mythology called Capitalism is more ingrained in the population, than the mythology of Creationism.
DeSwiss
(27,137 posts)~Edward Bernays
- Goebbels thought Eddie Bernays' ideas (who worked primarily for Wall Street firms) were to die for......
BuelahWitch
(9,083 posts)I'm going to take a piss to celebrate, see ya later!
LeftyMom
(49,212 posts)And why there's a picture of a service industry worker accompanying this article, I do not know. That guy works for a living.