WTF! Obama is one lousy socialist
Dow Jones Average Tops Record High
- Thread starter Straight Shooter
- Start date
WTF! Obama is one lousy socialist
WTF! Obama is one lousy socialist
The american economy is strong and dynamic. It survived FDR, Carter et al. and it'll survive Obama.
Unless we convert to straight up communism our economy will recover in spite of not because of who's in power.
That might be interesting news, if the DOW were still an indicator of overall economic health. Averaging the individual share prices of 30 of the richest companies in the country (and mind you, not controlling for overall size of said companies or their actual market value. IBM has more weight than ExxonMobil, how does that make sense?) has no direct correlation to our economy as a whole. Chevron, WalMart, IBM, Pfizer, Verizon, Coca-Cola, Exxon, JPMorgan & Chase et al. are giants. Using their success to measure the overall economy is absurd. The prosperity enjoyed by the DOW companies is not distributed equally through the entire economy. That, along with the fact that the DOW doesn't account for inflation makes a "record high average" useless.
Jagger69
Three lullabies in an ancient tongue
:goodpost:
As an additional thought, just like so many other supposed economic barometers (the price of gasoline for instance), the president gets way too much credit or blame for things over which he has very little direct influence.
Mayhem
Banned
This is one of those things that everyone says they agree on, and it keeps being said and agreed upon. But only when the guy they voted for is in office. When the opposition gets elected, we're right back to blaming the President for using a faulty magic wand.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
The Dow is not just a rich people thing. It's tied to our investments and retirements. Confidence in our economy. The more money that gets invested the more that gets stirred into the pot to grow. That's purchasing and jobs. I don't like his health care shit but if he didn't extend unemployment after the crash and have bail outs then this country would be in deep shit. I know he wants money for all kinds of other social shit that I don't agree with, but he made the decision to keep the Bush tax cuts for the most part and put his social shit aside. No doube we are better off today than 5 years ago.
Wow really!?! I believe FDR saved this country from an idiot republicans lack of direction. Carter inherited Nixons corruption and yes Obama has done more than an admirable job fixing yet another unqulified halfwit GOP presidents mess.
Rey C.
Racing is life... anything else is just waiting.
More so than the DJIA of 30 stocks, the S&P 500 is a better indicator of overall economic health in the U.S. - though that is not its primary purpose either. So in a way, you are somewhat correct in your statement about the Dow. But that's been true of the Dow for more than 20 years. In fact, it was becoming increasingly true near the end of the second Reagan administration, as the U.S. economy was becoming less manufacturing based. All equity indices are really just indicators of corporate health and reflect the rational (future) expectations that investors have for corporate earnings growth, not so much domestic GDP or economic growth - that has never been the case... nothing new to see here. But as corporate profits improve, whether because of productivity gains or improving revenues, it is generally seen as a positive indicator for the economy - especially since Americans, more now than ever before, must depend on stock and bond based 401k's and IRAs for retirement funds, rather than defined pension plans.
But as you look at broader indices, like the S&P 500 and/or the Russell, the better they reflect the improving or worsening macro economic environment. And those indices are also at or above record highs. And the economic indicators continue to demonstrate a continuing recovery. 1st quarter GDP is now estimated to be close to 3%. And the revisions to 2012 Q4 GDP will likely show expansion rather than the slight contraction that was first reported. Consumer spending was unexpectedly higher for January and February than first estimated and so were retail sales. So taking all of that into account, your sentiments are substantially off base.
Dow closes at record high again, S&P hits highest intraday level since October 2007. The Russell 2000 Index, which measures the performance of 2,000 U.S. small-cap companies, closed at a record high in Thursday's session, as did the Russell 1000 and the Russell 3000.
Sam Fisher
Banned
Of course the Stock Market is surging. The feds keep printing more money. Which in truth is a VERY BAD way to stimulate the economy. Eventually, the bottom is going to fall out.
Printing more money causes a loss in value, not a rise.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
Agree with you and Sam. The problem is that the banks paid back their bailout pretty quickly. They are showing profits now but where is it coming from? They are lending to someone but who? The circulation of money stimulates growth we can all agree upon. But I don't see any growth other than the bank's stock holders.
Dat dow tho!!!
Similar threads
