While the broader American “recovery” remains a frustrating mix of fits and starts, the U.S. stock market is officially back – more than five years later.
The Dow Jones industrial average raced past its record high of 14,200 this week – eclipsing the 14,198.10 mark it set way back in October of 2007.
Between 2007-09, the index lost 54 percent of its value.
So to recap … the week after politicians in Washington, D.C. finally get around to cutting government (if only by a little), stocks race to record highs.
Simple, right?
Obviously it’s not as simple as that … in fact earnings season is expected to land with a thud on Wall Street, while the impact of the fiscal cliff tax hikes (on wealthy investors and payroll employees) is also going to serve as a drain on the economy.
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Dow Jones Industrial Average: Then 14164.5; Now
14164.5
Regular Gas Price: Then $2.75; Now $3.73
GDP Growth: Then +2.5%; Now +1.6%
Americans Unemployed (in Labor Force): Then 6.7 million;
Now 13.2 million
Americans On Food Stamps: Then 26.9 million; Now 47.69
million
Size of Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01
trillion
US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
US Deficit (LTM): Then $97 billion; Now $975.6 billion
Total US Debt Oustanding: Then $9.008 trillion; Now $16.43
trillion
US Household Debt: Then $13.5 trillion; Now 12.87
trillion
Labor Force Particpation Rate: Then 65.8%; Now
63.6%
Consumer Confidence: Then 99.5; Now 69.6
http://pricedingold.com/dow-jones-industrials/
Right before and at the start of then……..GWB. We are recuperating. Imagine a President Palin.
Dow Jones Industrial Average: Then 14164.5; Now
14164.5
Regular Gas Price: Then $2.75; Now $3.73
GDP Growth: Then +2.5%; Now +1.6%
Americans Unemployed (in Labor Force): Then 6.7 million;
Now 13.2 million
Americans On Food Stamps: Then 26.9 million; Now 47.69
million
Size of Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01
trillion
US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
US Deficit (LTM): Then $97 billion; Now $975.6 billion
Total US Debt Oustanding: Then $9.008 trillion; Now $16.43
trillion
US Household Debt: Then $13.5 trillion; Now 12.87
trillion
Labor Force Particpation Rate: Then 65.8%; Now
63.6%
Consumer Confidence: Then 99.5; Now 69.6
http://pricedingold.com/dow-jones-industrials/
Right before and at the start of then……..GWB. We are recuperating. Imagine a President Palin.
Meanwhile, word on the street has it that George Soros and other ultra-rich folk like him are selling off their stock in American companies at an alarming rate. They usually know things the rest of us do not, well in advance of the rest of us. Could your 401k’s be about to take a huge hit?
Meanwhile, word on the street has it that George Soros and other ultra-rich folk like him are selling off their stock in American companies at an alarming rate. They usually know things the rest of us do not, well in advance of the rest of us. Could your 401k’s be about to take a huge hit?
Does Big(o)T know about this?
Does Big(o)T know about this?
http://www.youtube.com/watch?v=klICIl8r61k
http://www.youtube.com/watch?v=klICIl8r61k