Will the DOW hit 5000?

[quote name='fullmetalfan720']Aren't jobless recoveries great?[/QUOTE]

I agree with the knucklehead for a change. 10K don't mean shit when unemployment's this high.

Really reinforces that the market's a rich man's game that means little to us. Except when it's so low that we all get shitcanned so the wealthy can keep their salaries high.
 
[quote name='mykevermin']I agree with the knucklehead for a change. 10K don't mean shit when unemployment's this high.

Really reinforces that the market's a rich man's game that means little to us. Except when it's so low that we all get shitcanned so the wealthy can keep their salaries high.[/QUOTE]

When has that ever happened starting ... now!?
 
[quote name='mykevermin']I agree with the knucklehead for a change. 10K don't mean shit when unemployment's this high.

Really reinforces that the market's a rich man's game that means little to us. Except when it's so low that we all get shitcanned so the wealthy can keep their salaries high.[/QUOTE]

Agreed on unemployment (hopefully we'll stop hemorrhaging jobs soon). But when you define 80 percent of Americans (those with investments in the stock market) as part of a "rich man's game," I can't agree on that. Of course, those with millions invested instead of $5,000 in their IRA have a much greater stake, so that's probably what you meant.
 
Yeah, unemployment is the better indicator.

Selfishly, I'm glad to see the stock market climbing since I'm finally investing with 14% of my salary going in a fund (5% required contribution from me, employer contributes 9% each pay check).

So I don't think it's just good news for the rich. It's good news for anyone with a job and a 401k, IRA or other retirement funds as well.
 
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Unemployment isn't something to worry about.

Obama's stimulus saved all the jobs! It would have been a lot worse without it. Obama said so.
 
[quote name='UncleBob']Unemployment isn't something to worry about.

Obama's stimulus saved all the jobs! It would have been a lot worse without it. Obama said so.[/QUOTE]

But countries that did no "stimulus" are recovering faster...oh, you were being sarcastic.
 
[quote name='dmaul1114']Yeah, unemployment is the better indicator.

Selfishly, I'm glad to see the stock market climbing since I'm finally investing with 14% of my salary going in a fund (5% required contribution from me, employer contributes 9% each pay check).

So I don't think it's just good news for the rich. It's good news for anyone with a job and a 401k, IRA or other retirement funds as well.[/QUOTE]

http://consumerist.com/5381766/wsj-1999-if-this-is-a-bubble-it-sure-is-hard-to-pop?skyline=true&s=x
 
Far from over, but definitely past the low point and climbing back up. Dow has been slowly rising, had biggest job growth in March that we've seen in a while etc.

But unemployment is still up, state budgets still suck etc., so a long ways to go yet.
 
[quote name='dmaul1114']Far from over, but definitely past the low point and climbing back up. Dow has been slowly rising, had biggest job growth in March that we've seen in a while etc.

But unemployment is still up, state budgets still suck etc., so a long ways to go yet.[/QUOTE]
Nope, too late, the recession is gone and I'm already throwing a party for all my friends.
 
Its pretty much guaranteed that the worst hasnt come yet. We've passed zero regulations since the crash, the banks are bigger than they were before and already back to their old tricks. And the worst thing, we're still operating under Reaganonomics.

We've merely kicked the can down the road
 
[quote name='IRHari']How the fuck have we passed zero substantial financial regulations since the crash? It's absurd.[/QUOTE]

Because the people in charge were given a big pile of money to not make changes. Joke's on them: those were American dollars!
:lol::lol::lol::lol::lol::lol:

I had a customer today claiming banks won't lend money for mortgages to anybody with a credit score under 720.

I call bullshit, but it was unsolicited bullshit.

BTW, why isn't this in the Economic Recovery thread?
 
[quote name='Friend of Sonic']Nope, too late, the recession is gone and I'm already throwing a party for all my friends.[/QUOTE]

:D

I've been pretty much partying the whole time as I was super lucky and relatively unaffected. The worst of it happened before I had a retirement account (and it started bouncing back when I got one with my new job). I was SUPER lucky and landed a good job out of grad school this past summer etc.

Only downer was having 8 forced furlough days that knock a couple grand off my salary. But still, I'm making roughly twice what I've ever made in the past, so that didn't really sting like it does for the people used to making a certain salarly. Jury is still out on whether we get more furlough days next year--but looks unlikely at the present.


[quote name='Dr Mario Kart']Its pretty much guaranteed that the worst hasnt come yet. We've passed zero regulations since the crash, the banks are bigger than they were before and already back to their old tricks. And the worst thing, we're still operating under Reaganonomics.

We've merely kicked the can down the road[/QUOTE]

Worst of the current recession is over. But your right that nothing has been fixed yet, so a similar or worse one could happen in a few years--perhaps even before we're fully recovered from this one.

[quote name='IRHari']How the fuck have we passed zero substantial financial regulations since the crash? It's absurd.[/QUOTE]

Definitely absurd. But at least some reforms are on the table finally. Will be hard to get anything through congress after the health care issue etc. making it near impossible to get any republican votes for anything.

[quote name='fatherofcaitlyn']
BTW, why isn't this in the Economic Recovery thread?
[/QUOTE]

I debated putting it there, but then remembered this thread and thought it was the better fit since it was about the DOW.
 
[quote name='dmaul1114']:D

I've been pretty much partying the whole time as I was super lucky and relatively unaffected. The worst of it happened before I had a retirement account (and it started bouncing back when I got one with my new job). I was SUPER lucky and landed a good job out of grad school this past summer etc.

Only downer was having 8 forced furlough days that knock a couple grand off my salary. But still, I'm making roughly twice what I've ever made in the past, so that didn't really sting like it does for the people used to making a certain salarly. Jury is still out on whether we get more furlough days next year--but looks unlikely at the present.
[/QUOTE]
I have been doing about 10X better since when the economy was thriving versus right now. Luckily, did not get laid off, and I've been making a small amount more money each year. Last year, I even took my savings from about 800 dollars in March to about 13,000 in December. Small potatoes for many, but it was huge to me. But then again, I'm only 23 and I'm expected to wise up financially at some point in my 20s. Luckily for me, the economy has not hindered me yet.
 
[quote name='IRHari']How the fuck have we passed zero substantial financial regulations since the crash? It's absurd.[/QUOTE]

Democrats want the banksters cash, Republicans really want the banksters cash and are willing to nuke reform by using mealy mouthed bullshit.
 
Thanks boys, but I can answer my own question ;)

What McConnell did not mention was that, last week, he traveled alongside National Republican Senatorial Committee chairman Sen. John Cornyn (TX) to New York City for a private meeting with elite hedge fund managers and other Wall Street executives. The purpose of the meeting between the top Republicans and the financial executives was to enlist “Wall Street’s help” in funding Republican campaigns in the fall and killing any tough financial reform
Click to expand...
 
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