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Dow Hits Historic 13,000 Mark

Wow.

Update: I can't help but wonder if the corporate profits that were responsible for the record Dow (and no doubt created many jobs across the country) will be blamed for all the horrible poverty in America (see my Idol post above). During the Clinton years good economic figures were always good news. For some strange reason, during the Bush years they are always bad, evidence the evil rich are getting richer, or at the very least are to be taken with skepticism, just setting us up for impending economic devastation.

Update II: Right on cue. ABC and CBS throw cold water on good economic news. No wonder there is such a huge gap between the public perception of the economy and the actual numbers.


Comments (14)

No comments yet? I would t... (Below threshold)
Lorie Byrd:

No comments yet? I would think there would be at least one about the gap between the rich and poor by now. Or one about evil corporate profits. It is still early.

The gap between rich and po... (Below threshold)
Larry Ellison:

The gap between rich and poor just keeps getting bigger. I work my fingers to the bone but I just can't close the gap between me and Bill Gates. I blame Bush.

I remember how the trolls w... (Below threshold)
hermie:

I remember how the trolls would always use the Dow numbers & unemployment figures to show how great the Clinton economy was compared to the Bush years.

Yet, the Dow in the Bush years has been far above the Clinton Dow numbers, and the unemployment numbers have been better than any of the Clinton years...still the Dems want to take more and more from those who they call 'the rich', to pay for more government programs and boondoggles.

Blame and/or kudos depend o... (Below threshold)

Blame and/or kudos depend on who controls Congress and/or who is President. In this case the left certainly can't credit Bush, however, now that Congress is Democrat controlled, they will get the kudos and this will be a good thing. Because, you see, the people have more faith in a Democrat congress. Right?

If Congress was still a majority Republican with Bush in the White House, this would be a bad thing. That's when the "rich get richer" and "evil capitalist" epithets become more shrill.

For some strange reason, du... (Below threshold)
Rovin:

For some strange reason, during the Bush years they are always bad.......

It isn't so strange Lorie. There is simply no free PR for the economic success that this nation has endured since 9/11, and the MSM will NEVER credit Bush's tax policies for creating the health and wealth of our economy. But I'm sure the left can screw this one up soon enough. It will be hidden in the guise of re-distribution of weath via a government bureaucracy----Socialism at it's finist.

It's Hooverville I tell you... (Below threshold)
John F Not Kerry:

It's Hooverville I tell you!

Son of a b*tch! Thanks, Nan... (Below threshold)
nikkolai:

Son of a b*tch! Thanks, Nancy!!!

Son of a b*tch! Thanks, Nan... (Below threshold)
nikkolai:

Son of a b*tch! Thanks, Nancy!!!

$ $ $ $ $ $ $ $<br... (Below threshold)
914:

$ $ $ $ $ $ $ $


ah ha ha ha ha ha ...kiss off libs!

Debtor nation...80% service... (Below threshold)
bryanD:

Debtor nation...80% service: 20% manufacturing economy. (I made money, but Uncle Sam owes the loan sharks!)

We celebrated like hell whe... (Below threshold)
John S:

We celebrated like hell when the NASDAQ broke 5,000. Likewise the Dow is blowing a big bubble. Unfortunately the dollar is shrinking a lot faster than the market is rising. I blame Al Gore.

"I can't help but wonder if... (Below threshold)
Herman:

"I can't help but wonder if the corporate profits that were responsible for the record Dow (and no doubt created many jobs across the country) will be blamed for all the horrible poverty in America (see my Idol post above). During the Clinton years good economic figures were always good news. For some strange reason, during the Bush years they are always bad..."

The official poverty rate given by the U.S. Census went down during the Clinton years then went back up during the Bush years. Not that you so-called Christian conservatives give a damn.

The official pover... (Below threshold)
The official poverty rate given by the U.S. Census went down during the Clinton years then went back up during the Bush years. Not that you so-called Christian conservatives give a damn. Posted by: Herman at April 25, 2007 06:47 PM

Oh yes, our "poor" people...who have cable tv, heat and full refrigerators. Ask black Americans about the track record with voting democratic all these years...not that you liberals give a damn about them. You just wish to use them as a voting bloc and not let them up from under your thumb.

Why do you see DOW=13,000 a... (Below threshold)
dan:

Why do you see DOW=13,000 as a significant sign of strength? Compared to many commodities, especially the all important oil and petroleum products, and the precious metals, the DOW right now isn't as strong as the five digit number "13000" might suggest. It is not so impressive.

Another way to look at this... humans are by nature at a loss when it comes to numbers that are larger than our casual everyday anatomical sphere. E.g., we are good at understanding (conceptually) small numbers, but as numbers become larger we start losing inate ability to identify with them.

Example: do you believe a 7% return to be a reasonable investment? If so, and you simply buy a DOW index, then in 10 years the DJIA must = around 26,000 to see those sort of returns!




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