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#1 |
Refugee
Join Date: Jun 2000
Location: One Nation. Under God.
Posts: 1,513
Local Time: 01:05 PM
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Up, Up, Up, it goes....
Contrary to the beliefs of others, the U.S. stock market has not been on a steady decline since "Bush and his big business F.O.B's (that's Friends of Bush) took over."
__________________If you look at the actual Dow Jones Industrial Average for the past five years, you can draw only two possible conclusions: 1) That there's been a steady decline from March, 2002. 2) That there's been a steady decline from January 2000, when Bill Clinton and Al Gore were in office - and had been in office for seven years. But let's say that the contrary opinion is right in saying, "The stock market reflects the overall attitude of individual investors towards the health of the economy." What do we make of today's news? Wall St. bulls take charge NEW YORK (CNN/Money) - The Dow Jones industrial average saw its second-biggest one-day point gain ever as stocks snapped back from weeks of sharp selling on reassurance from J.P. Morgan Chase about its Enron ties, the arrest of some of the key offenders in the Adelphia scandal, and continued good cheer about 3M's quarterly results. We're not in a boom yet, by any stretch of the imagination. But I say it's quite possible that Bush-bashers have been exhibiting irrational pessimism, all for the sake of proving that President Bush is terrible at his job.
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#2 |
ONE
love, blood, life Join Date: May 2002
Location: Tempe, Az USA
Posts: 12,856
Local Time: 11:05 AM
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As I said in the other thread..whos FAULT is it ?
__________________![]() DB9 ![]() |
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#3 | |
The Fly
Join Date: May 2001
Location: God is Love
Posts: 185
Local Time: 06:05 PM
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Re: Up, Up, Up, it goes....
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Therefore, to suggest that today's bargain hunting rally reflects the attitude of investors towards the health of the economy is quite frankly naive, premature, and totally inacurrate. |
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#4 |
I serve MacPhisto
Join Date: Feb 2001
Location: the HORROR
Posts: 4,022
Local Time: 12:05 PM
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Anyway,
Yes boys you beat me to it. ![]() Good job Bubba and DB9 ![]() |
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#5 |
ONE
love, blood, life Join Date: Oct 2000
Location: Toronto, Ontario
Posts: 11,782
Local Time: 01:05 PM
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To comment on the stock market, I believe it has been artifically inflated all during the Clinton era. The "prosperity" we supposedly had during the 1990s was a sham, just as it was a sham in the 1980s. The "prosperity" during both decades was highly disproportionate, leaning towards the upper 1%. "Prosperity" has always been a distortion of the media (call it the "liberal" media, if you so desire), and, while I cannot deny that many people did get wealthy over the last two decades, there were far more who regressed in inflation-adjusted wealth since before the 1980s, thanks to slashed wages, encouraged by the 1986 tax plan that eliminated the Windfall Profits Tax (a tax levied only on businesses that had excessive profits; encouraged capital investment and labor wages). The Dow Jones Industrial Average is only a reflection on corporate wealth, not personal wealth. Personal prosperity is all I care about.
Our current stock jump off 400+ points today will plummet in the next day or so, as people are looking for quick profits, and they'll sell these now higher stocks tomorrow. Buy low, sell high, yes? Melon |
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#6 | ||
Refugee
Join Date: Jun 2000
Location: One Nation. Under God.
Posts: 1,513
Local Time: 01:05 PM
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Re: Re: Up, Up, Up, it goes....
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Though, to be honest, Bush and Congress HAVEN'T done everything right, either: - The Congressional budget is up nearly 20% in just two years. - This so-called corporate reform - which will probably bring MORE frivolous lawsuits (good for trial lawyers, bad for business) - has investors worried. - Finally, the Bush tax cut, which so many liberals want to blame our condition on, has been barely enacted (wonder how it's causing the problems, then). There won't be serious tax cuts until 2005. If conservatives are right, and I believe we are, these tax cuts will HELP the economy. The sooner, the more, the better.
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