Only seven months after hitting a low of 6500. Are things turning . . . I think they are . . . slowly, but surely http://news.yahoo.com/s/ap/20091014/ap_on_bi_st_ma_re/us_wall_street
A baby bull run that will get bearish in the next month or so. The weak dollar is helping prop up the market right now. Once inflation catches up ... TIMBER! So, get rid of some assets fairly soon, because they won't be worth as much by the end of the year. Also, why is it that the rich folk who own stocks, and the people on Wall Street, seem to be doing well while unemployment rises and available jobs decrease?
Before anyone decided to sell assets based on papa's financial advise, know that he was claiming that when the dow was at 6500, it would continue to drop, the financial system is about to go bankrupt and implied it was Obama's fault.
I've been hearing about how we're on the cusp of rampant inflation since, gosh, the dot com bubble burst? Since the early 1980's, we've had massive budget and trade deficits, wars, booms, busts, liberal presidents, conservative presidents, 9/11...yet through 26 or so years inflation just hasn't budged much. I'm not saying it ain't going to happen. But at some point you have to wonder.
Always seems odd to me when conservatives disown Dubya. The argument would be somewhat convincing that you were duped if you only voted for him once. But if conservatives vote TWICE for a guy who describes himself as a conservative, it's pretty tough to claim later on he wasn't a conservative. You know...fool me once, shame on — shame on you. Fool me — you can't get fooled again.
W was the closest thing I had to what I believe in those elections, and even with him, I had to compromise my fiscal conservatism and my social liberalism when filling in the circle for him. Then again, I've never called him fiscally conservative, so I guess I did know what I was voting for in him.
It's great news for those of us who stayed in the market. I wonder with the current mounting debt and the probable upcoming health care plan and the debt it will build if this is just a small run or not. I'm no economist, but I do wonder.
Depends on how long you've been in the market. Well, I suppose it is great news regardless, but it's better news for someone who didn't see the Dow climb over 14k.
For sure, there is a beating we took we will never recover from, but it's still nice to see the Dow hit 10,000.
The important part of this equation was it was only 7 months ago it was at 6500 . . . at that time, people were panicing and pulling their cash out of equities not trusting wallstreet. Half a year later the dow is breaking 10,000 and the economy has a much differnt feel (v. 6 mos ago). Give Obama that prize for economics . . . I know, I know, Obama had no effect on the market . . . but I want to thank someone for turing my 201K into a 301K.
The economy is much worse than it was 6 months ago. Unemployment has jumped 2 points, and because of this, we aren't taking in the tax revenue needed to sustain the spending that is planned. As I said, this is a baby bull rally. We 401k-types likely will be disappointed again within the next 6 months.
I think it's reasonable to assume that anyone who has money and is looking for a modest return on investment is finding the stock market the only place to be right now, at least for the short term. I personally think it might be a great time to buy real estate and hold it for a few years. But it really does indicate that there's a bubble in the stock market, so caution is a good idea. Isn't it scary when stocks get bid up by 50% in a few months? I think so...
It has more to do with risk-adjusted returns on cash and bonds than the strength of the equity asset class.
It's all in the definition of conservative. Here's mine: Reagan twice, Bush once, Bushbaby twice, that's 5 ultra-conservative Presidents vs 1 moderate conservative (Clinton).
Of course! (I have no idea what this means) Maxiep knows this stuff better than anyone on this board. My brother-in-law just got laid off today. I'm glad the Dow is up but that's little comfort for millions of people without a job.
maxiep will correct me if I'm wrong, but I think unemployment is considered a trailing indicator of economic health, meaning that unemployment will peak after the worst point in the recession. So it isn't necessarily the case that the economy is worse overall (it might be, of course). barfo
