Jamie_B Posted March 5, 2013 Report Share Posted March 5, 2013 Yet we still have high unemployment. 2 things come to mind... Obama is really bad at this socialism thing and Another bubble that cant be sustained and when it pops will make things much much worse than before Link to comment Share on other sites More sharing options...
|Numbers| Posted March 5, 2013 Report Share Posted March 5, 2013 Since you seem to love the financials portion of politics, how can this be spun by the current administration ? In other words, picture yourself behind a Fox News desk and give us your best shot. :ninja: Link to comment Share on other sites More sharing options...
Jamie_B Posted March 5, 2013 Author Report Share Posted March 5, 2013 :lol: Boy I'm not sure how they could possibly spin that other than focusing on the potential recession that the sequestration may cause adding to the already high unemployment, but then they would have to ignore the DOW at the same time. This is a classic case of Cognitive Dissonance on their part. I mean how do you defend the DOW doing so well while everyone else isnt and call Obama a socalist while it's the 1% that have been doing so well under his policies. Or on the flip end how is MSNBC going to say his polices are good for the people while its the 1% doing so well? Cant hold two beliefs at the same time. Crazy. Link to comment Share on other sites More sharing options...
|Numbers| Posted March 5, 2013 Report Share Posted March 5, 2013 Or on the flip end how is MSNBC going to say his polices are good for the people while its the 1% doing so well? Cant hold two beliefs at the same time. Crazy. http://www.nbcnews.com/business/dow-hits-new-all-time-high-keeps-soaring-1C8685444 "This was no question a positive number," said Michael Woolfolk, senior currency strategist at BNY Mellon. "It reflects improvement in reinforces the view that the economy continues to improve and should contribute to gains that have driven the stock market to a new record." Hell, I really tried to find something good about this but even the NY Times was slamming the same idea you had. This really does not feel good. I'm not an expert but have seen the effects (JPM/Chase) of people cutting jobs but recording record profits. (They cut upwards of 4,000 jobs recently) See the following link for something one of the JPMorgan leaders had to say.... http://www.forbes.com/sites/davidwismer/2013/03/03/jamie-dimon-thats-why-im-richer-than-you-and-other-quotes-of-the-week/ Jamie Dimon: 'That's Why I'm Richer Than You' Link to comment Share on other sites More sharing options...
Jamie_B Posted March 5, 2013 Author Report Share Posted March 5, 2013 It's a racket. Link to comment Share on other sites More sharing options...
|Elflocko| Posted March 5, 2013 Report Share Posted March 5, 2013 http://www.nbcnews.com/business/dow-hits-new-all-time-high-keeps-soaring-1C8685444 Hell, I really tried to find something good about this but even the NY Times was slamming the same idea you had. This really does not feel good. I'm not an expert but have seen the effects (JPM/Chase) of people cutting jobs but recording record profits. (They cut upwards of 4,000 jobs recently) See the following link for something one of the JPMorgan leaders had to say.... http://www.forbes.com/sites/davidwismer/2013/03/03/jamie-dimon-thats-why-im-richer-than-you-and-other-quotes-of-the-week/ I'd love to have 5 minutes alone in a room with Jamie Diamon, a Garden Weasel and a rusty chainsaw... Link to comment Share on other sites More sharing options...
|Numbers| Posted March 5, 2013 Report Share Posted March 5, 2013 I'd love to have 5 minutes alone in a room with Jamie Diamon, a Garden Weasel and a rusty chainsaw... I know someone who would personally thank you with a couple tickets on the 45 yard line... Link to comment Share on other sites More sharing options...
sois Posted March 5, 2013 Report Share Posted March 5, 2013 Reduce headcount = bigger margins = higher EPS Link to comment Share on other sites More sharing options...
|Elflocko| Posted March 5, 2013 Report Share Posted March 5, 2013 Reduce headcount = bigger margins = higher EPS = First in line for the guillotine Link to comment Share on other sites More sharing options...
MichaelWeston Posted March 5, 2013 Report Share Posted March 5, 2013 I think it's alarmist to say the bubble must burst Link to comment Share on other sites More sharing options...
Jamie_B Posted March 5, 2013 Author Report Share Posted March 5, 2013 I think its naive to think otherwise. Link to comment Share on other sites More sharing options...
MichaelWeston Posted March 6, 2013 Report Share Posted March 6, 2013 Why can't it gradually move up and then gradually move down. You're not an economist. Link to comment Share on other sites More sharing options...
sois Posted March 6, 2013 Report Share Posted March 6, 2013 We are still in recovery from the great recession. So, things are going up in some aspects, but employment is the one the fed still can't figure out. They've already used all of their bullets (QE and super low interest rates), the players just have to play ball. There is no disincentive to being cash-rich right now. Do something, shitty congress. Link to comment Share on other sites More sharing options...
oldschooler Posted March 6, 2013 Report Share Posted March 6, 2013 Blue Chip Corporations are banking record profits. And not creating jobs and not sharing the wealth with the other 95 percent. That is why the DOW is up and employment is down and the Economy is moving at a slow crawl. Yet Repubs talk about "not taxing job creators". Create jobs then get tax breaks. Bank record profits and tax their eyeballs out. A-holes. I swear our Government hasn't been doing much Governing. And it makes me sick. Link to comment Share on other sites More sharing options...
Jamie_B Posted March 6, 2013 Author Report Share Posted March 6, 2013 Why can't it gradually move up and then gradually move down. You're not an economist. Because a business needs customers, we have a real unemployment rate, not the government reported one, that is sky high. Its impossible for this to keep up. The market is fools gold. Link to comment Share on other sites More sharing options...
Orange 'n Black Posted March 6, 2013 Report Share Posted March 6, 2013 The DOW broke a record high in nominal dollars. Convert the previous '07 high to 2012 dollars and you will see difference It's still well below historical peak value and there's not much to indicate a bubble. Financial markets are only loosely correlated to total economic health anyway so it's kind of a non-story. Link to comment Share on other sites More sharing options...
sois Posted March 6, 2013 Report Share Posted March 6, 2013 The DOW broke a record high in nominal dollars. Convert the previous '07 high to 2012 dollars and you will see difference It's still well below historical peak value and there's not much to indicate a bubble. Financial markets are only loosely correlated to total economic health anyway so it's kind of a non-story. Yeah, but nominal values are close to accurate because of how low inflation has been (1.8% annualized since 2007). Link to comment Share on other sites More sharing options...
Orange 'n Black Posted March 6, 2013 Report Share Posted March 6, 2013 Yeah, but nominal values are close to accurate because of how low inflation has been (1.8% annualized since 2007). You still can't compare a nominal values across fiscal years in any meaningful way. It's intentionally misleading, just like most of the articles reporting this headline. IIRC, the all-time high is ~15,500 in 2013 dollars, meaning the DOW is still about 10% off its real all-time high. Link to comment Share on other sites More sharing options...
sois Posted March 6, 2013 Report Share Posted March 6, 2013 Un-nominalizing it using inflation = makes it standardized. Link to comment Share on other sites More sharing options...
Orange 'n Black Posted March 7, 2013 Report Share Posted March 7, 2013 Un-nominalizing it using inflation = makes it standardized. Exactly... if you adjust the yearly DOW high for every year into 2013 dollars, today's DOW high is ~10% less than the historical high. It's really more disappointing that there are enough people that don't know this that it can be a major media headline. Link to comment Share on other sites More sharing options...
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