Dow Closes Above 10,000 For First Time In A Year

[TurkeyWithaSunburn]

I want to know where are the jobs? Sure the money is coming back into the market but if the profits are all coming from China, then we're screwed. The stock market is all just a shell game in my opinion. You're not making anything to actually sell.

Must be nice to have enough bucks to play with. :biggrin:

 

[deleted15807]

BFD. Look around you...only Wall Street is in full recovery, whilst most of the rest of the nation remains in the ICU.

The more things change, the more they remain the same.

Wall Street has to recover before Main Street. Everyone wondered if what was happening on Wall Street last year would affect Main Street. We're not wondering that anymore.

 

[faceking]

Psychologically and in terms of consumer confidence it's very good news especially going into the holiday retail season.

the market is dying to turn around, since half is just psychological. it's trying, and will do so on it's own, regardless of healthcare disasters, et al. just can't seem to breathe on it's own just yet.

after the collapse of the dot.bomb from 11,000 to ~7,500... it went over 14,000 about years later. that's circa 90%.

let's take the stock market pre-9/11... as that's somewhat close to where "Bush inherited Clinton's disaster" (which by the way, I fully on record that presidents/stock markets mean little to each other). Anyways... since that time, and even a further dip to 8,200 on 9/21, "bush" recovered the stock market 67%... and I believe still has a better unemployment record vs. Clinton, Bush Sr, Reagan and Carter.

so those of you (i.e. 99% of LPSG Poli sub-forum minions) that say Bush destroyed the economy and blah blah, stock market, yammer yammer Obama got handed a raw deal.... you are ONLY allowed to say that, if you gave Bush credit for a 190% recovery of 2007. I know you didn't, and I know most are clueless on the lack of correlation on presidential policies and the long-term effects of the stock market.


I never gave Bush credit.... because that's beyond folly. Like Al Gore claiming he invented the Internet.

We know how/why the market crashed at the start of the century... the fall out of overinflated equities (the accounting crap had little to do with it). Everyone seems to forget why 2008 happened.... and who got us into the mess.... Iraq was well full bore, and already priced in, if not a non-factor, so look elsewhere..

Recent market

 

[D_Rod Staffinbone]

I want to know where are the jobs? Sure the money is coming back into the market but if the profits are all coming from China, then we're screwed. The stock market is all just a shell game in my opinion. You're not making anything to actually sell.

Must be nice to have enough bucks to play with. :biggrin:

this is all true, but it's still the way it's being done.
if you can't beat 'em join 'em.

but be very careful out there.

 

[deleted15807]

I want to know where are the jobs?

The labor market is a 'lagging' indicator of economic growth. That's not to say we should be unconcerned at all. The WSJ had an article that said the job market won't fully recover until 2016.

It Will Be Years Before Lost Jobs Return -- and Many Never Will

 

[BiItalianBro]

While I am happy to see my portfolio back in the black...I also get the feeling that this is Nero playing his fiddle while Rome burns.
I am staying nimble with my investments while Wall Street trades on news, not fundamentals. There are plenty of other shoes that can, and will, drop in the coming months.

 

[Industrialsize]

Even before the election, conservapundits were trying to blame President Obama for the poor performance of the Dow under George W. Bush. But now the Dow is up over 10,000, a 25% increase since inauguration day. What will they come up with next?

The pundits were wrong: Dow closes at 10K, up 25% under Obama - Daily Kos TV (beta)

 

[HazelGod]

Wall Street has to recover before Main Street.

Ummm...explain again why this notion is true?

Hint: "Because Wall St. says so" is not a valid answer.

 

[deleted15807]

Ummm...explain again why this notion is true?

Hint: "Because Wall St. says so" is not a valid answer.

The nebulous idea of 'confidence'. It is an indicator of 'confidence'. Confidence has to return to the consumer and the investor.

 

[HazelGod]

Confidence? I dunno about you, but nobody I know is feeling imbued with a whole lot of anything but contempt at the news that the folks on Wall St. are already rollin' phat again while they're still scraping by and hoping they remain employed through the holidays.

 

[deleted15807]

I'm not referring to the 'employees' on Wall Street rather the investors in companies. Big difference. The institutional investors are back in the equity markets. I'm not happy at all with the pay checks on Wall Street. That's another story entirely.

The precipitous drop is easing. And that's a real good thing.

514K new jobless claims; inflation remains muted

WASHINGTON — New jobless claims dropped to the lowest level since January and the prices of many household goods stayed low last month, positive signs of stability for the fledgling economic recovery.
​

 

[randddue]

You'd think that everyone who is on this site would be wildly happy about a president who gets a "stimulus package" enacted ! I know that I love having mine stimulated.

Seriously though, this is another indicator that at the very least Pres Obama's ploicies have prevented an even worse situation. I know that there are a number of good numbers coming in (housing sales/starts up, trade balance better, retail sales showing some life, etc) and that several of the bailed-out banks have already repaid the feds.

And of course there are those who's only agenda seems to be to make sure Obama gets no credit for anything good that happens on his watch, or even to deny that good things are happening. Of course we have a long way to go but many things are moving in a positive direction.

 

[Northland]

Keep in mind, in March of 1929 the stock market had a mini-crash, similar to what we saw after the mess of the markets a year ago. Not a full crash; but it was one hell of a drop. Things rebounded and as the market seemed to heal, people forgot or disregarded what had happened and over the summer things were nice and in September of that year, things hit a new high. Forwarding to October of 1929 and Kaboom! The market took a dive which nobody had foreseen. In point of fact, after the September rally, even more had figured that the good times were back, which made the October events-Black Thursday, where on October 24, prices fell sharply and people were selling like mad. Bankers got together, threw their money in, the selloff ceased and calm returned in time for the weekend. Then came Tuesday, October 29, and we know what happened then. (if not read up on it at your local library or do an Internet search and learn more). Part of what triggered the big crash was the nervousness which took over after the events of the 29th. When things looked better, people decided to get out. Sell their shares, rake in whatever profits they could. The result was Kaboom!
In November of '29 there was another dip, and the markets did poorly for a few years after.


A similar disaster could happen here if people who are invested in the market decide to get out now. That amount of selloff could conceivably cripple the market more than what we saw in that last drop.


Mind you, I am hoping the market will maintain its slow steady growth; but, I am not yet fully convinced we are thriving. The job market is still a wreck. costs are still high, people who have jobs have had salaries frozen, while their expenses have risen. A healthy stock market is not proof that all is well. Hopefully things will get better all around.

 

[D_Ireonsyd_Colonrinse]

Recession ends in 79 metros, index shows


One in five areas turned upward in Aug., based on latest msnbc.com figures



The recession finally ended in August in one out of every five metro areas in the United States, especially in the Midwest and Great Plains, according to the latest Adversity Index from Moody's Economy.com and msnbc.com.

This is the first month this year when any metro area has moved from recession into the "recovery" category, indicating that the economy grew from six months earlier. Out of 384 metro areas in the nation, 79 are in recovery, according to the August data on jobs, manufacturing and housing. Another 270 areas have a "moderating recession," meaning their economies were not contracting as severely as earlier. That leaves 35 metro areas in a full-blown recession.

Recession ends in 79 metro areas - Eye on the Economy- msnbc.com

(state by state info here)


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Federal contracts show 30,000 stimulus jobs

Numbers offer first hard data on early effects of stimulus program

Federal contracts show 30,000 stimulus jobs - Stocks & economy- msnbc.com

 

[deleted15807]

The 'good thing' is the US governments and governments around the world are very familiar with the events of Great Depression and will do anything it takes to avoid it unlike they did back then.

 

[HazelGod]

Recession ends in 79 metros, index shows

One in five areas turned upward in Aug., based on latest msnbc.com figures

Wow...20%.

That means...let me do the math here...80% are still eating shit, right?

I guess these guys didn't get the memo either:

Q3 Foreclosures - Worst Three Months of All Time

No end in sight
The foreclosure crisis may not diminish anytime soon. "The fastest growing area is in the 180 days late-plus category, the most seriously delinquent borrowers," Sharga said. "It's going to be a lingering problem."

 

[Flashy]

Recession ends in 79 metros, index shows


One in five areas turned upward in Aug., based on latest msnbc.com figures



The recession finally ended in August in one out of every five metro areas in the United States, especially in the Midwest and Great Plains, according to the latest Adversity Index from Moody's Economy.com and msnbc.com.

This is the first month this year when any metro area has moved from recession into the "recovery" category, indicating that the economy grew from six months earlier. Out of 384 metro areas in the nation, 79 are in recovery, according to the August data on jobs, manufacturing and housing. Another 270 areas have a "moderating recession," meaning their economies were not contracting as severely as earlier. That leaves 35 metro areas in a full-blown recession.

Recession ends in 79 metro areas - Eye on the Economy- msnbc.com

(state by state info here)


----------


Federal contracts show 30,000 stimulus jobs

Numbers offer first hard data on early effects of stimulus program

Federal contracts show 30,000 stimulus jobs - Stocks & economy- msnbc.com

yeah, i stopped reading right after this:

Businesses receiving federal contracts under President Barack Obama's economic stimulus

program reported creating or saving more than 30,000 jobs in the first months of the program,


the old "saved" jobs bullshit rears its head.

 

[D_Tully Tunnelrat]

If you have any money in the markets how could you not be pleased to see the Dow "recover?" But what are the costs of the recovery, ie. the debt? Who will pay, and how, for how long? Where are all those "shovel ready" projects we heard so much about? I have not seen many, if any 'round here. Only 514K jobless claims is good news? 40 out of 50 state budgets are still in the red for next year. There is no strong dollar policy, despite the rhetoric, we just print more. We are by no means out of the woods. I don't even think we can see the clearing. But hey, make hay while the sun is shining!

 

[D_Stanford Dedwillie III]

Where are all those "shovel ready" projects we heard so much about? I have not seen many, if any 'round here.

Good call, duc.

This was one of more ironic, yet apropos, prevarications of the hundreds that were disseminated by the Obama team.

Truly, it is this Administration that needs a shovel.

 

[cdarro]

From reading these posts, it sounds as if things may be as bad down there as we in Canada have been led to believe. Elements in our media sometimes gloat over American misfortune.