Sequester so catastrophic that the DOW hits record high.

[Matt1970]

Those cuts sure tanked the economy.

http://money.cnn.com/2013/03/06/investing/stocks-markets/index.html?hpt=hp_t2

Austerity for the win !!!!!

 

[zsdersw]

The DJIA is not a good indicator of how the overall economy is doing.

 

[highland145]

Thought that was because of all the $$ that's being printed.


Inflation next?

 

[spacejamz]

Is that Boooosh's fault also????

 

[Dulanic]

Wait... so can I use your line of "in spite of" not "because of" just like repubs do about the economy recovering when Obama was in office? Funny how that works one way but not the other.

 

[Phokus]

Are you stupid Matt (this is rhetorical)?

The rally has been driven by improved economic data, said Bill Stone, chief investment strategist for PNC Wealth Management.

1. Any effect on the economy due to the sequestration won't be felt in a while, you dummy.

2. The DIJA has been way up since 2009. THANKS OBAMA! https://www.google.com/finance?q=INDEXDJX:.DJI

Not surprised that someone who can't tell the difference between a fake news story and a real one would be posting such a stupid thread.

 

[Darwin333]

Those cuts sure tanked the economy.

http://money.cnn.com/2013/03/06/investing/stocks-markets/index.html?hpt=hp_t2

Austerity for the win !!!!!

The DIJA, and stocks in general, was doing great in early 2000 too.......

 

[Ryan]

Are you foolish enough to not remember what happened the last time the market peaked this much (when at the same time all economic indicators didn't support such confidence)?

Oh yeah - the economic collapse of 2008, that's it. Don't take this for face value...it could very well be a harbinger of things to come....

 

[Matt1970]

Are you stupid Matt (this is rhetorical)?



1. Any effect on the economy due to the sequestration won't be felt in a while, you dummy.

2. The DIJA has been way up since 2009. THANKS OBAMA! https://www.google.com/finance?q=INDEXDJX:.DJI

Not surprised that someone who can't tell the difference between a fake news story and a real one would be posting such a stupid thread.

Hey asshat, if we were headed for doom and gloom like Obama thinks we are then there would surely be a selloff right now. And I like how you took that story out of your sig about racists voting for Republicans because of the hiring practices of NY City business owners. Did you finally figure out how retarded that was or just get bored with it?

 

[Matt1970]

Are you foolish enough to not remember what happened the last time the market peaked this much (when at the same time all economic indicators didn't support such confidence)?

Oh yeah - the economic collapse of 2008, that's it. Don't take this for face value...it could very well be a harbinger of things to come....

That was during a bubble. The only bubble we have right now is government spending.

 

[Phokus]

Hey asshat, if we were headed for doom and gloom like Obama thinks we are then there would surely be a selloff right now. And I like how you took that story out of your sig about racists voting for Republicans because of the hiring practices of NY City business owners. Did you finally figure out how retarded that was or just get bored with it?

1. lol, you got embarrassed, you mad bro?

2. I only took it out because the moderators told me to due to sig length you idiot, i explained that to you before.

I hear duffelblog has some new 'news' stories, maybe you should be posting those links here again.

 

[Attic]

Are you foolish enough to not remember what happened the last time the market peaked this much (when at the same time all economic indicators didn't support such confidence)?

Oh yeah - the economic collapse of 2008, that's it. Don't take this for face value...it could very well be a harbinger of things to come....

True, but we weren't on QE infinity morphine drips to mask the severity of the economic pain we got ourselves into last time. Eventually the drips may run out, kill us, or help us recover, but we didn't have em during the last economic "accident".

The thing about trimming spending, you actually have to eventually do it. The left and right BS circus tug of war has succeeded in putting it off for long enough.

 

[Ryan]

That was during a bubble. The only bubble we have right now is government spending.

Who is to say we are not in the middle of a growing stock market bubble? http://en.wikipedia.org/wiki/Stock_market_bubble

 

[Matt1970]

Who is to say we are not in the middle of a growing stock market bubble? http://en.wikipedia.org/wiki/Stock_market_bubble

There is always a cause for a bubble.

 

[Matt1970]

1. lol, you got embarrassed, you mad bro?

2. I only took it out because the moderators told me to due to sig length you idiot, i explained that to you before.

I hear duffelblog has some new 'news' stories, maybe you should be posting those links here again.

Embarrassed about what? Embarrassed that Austerity is not going to be the coffin nail in the economy a lot of people think it will be? Embarrassed that my messiah is now resorting to emails to departments to make cuts as painful as possible just for political points? Embarrassed that I backed a guy who promised to cut the deficit in half in 4 years yet goes on a doom and gloom tour and cries like a stuck pig when a measly 8% of the deficit gets cut.

Yep, that’s me.

And nice try with the sig excuse, I saw your shortened sig and it was 6 lines.

 

[unokitty]

Fact is, the Stock Market doesn't believe the spin coming from the White House.

And neither do I.

Uno

 

[WhipperSnapper]

The DJIA is not a good indicator of how the overall economy is doing.

It's an interesting issue. What exactly does the DJIA mean today and in what ways does it serve as an indicator of the health of the nation's economy? What if it is an indicator of the health of foreign economies? What if it's an indicator of the health of the wealthy at the expense of the lower classes? Perhaps if some businesses were less profitable but paid higher wages to more people the economy would be better but the DJIA would be lower?

 

[mshan]

ADP Jobs Report this morning: http://video.cnbc.com/gallery/?play=1&video=3000152486 (500,000 - 750,000 jobs lost or not created over 10 months because of sequester later this year)

Sequester: http://video.cnbc.com/gallery/?play=1&video=3000152238



Ask the English about harsh austerity, especially when everyone else in the world would like to do the same thing at the same thing (triple dip recession).

 

[Phokus]

Embarrassed about what? Embarrassed that Austerity is not going to be the coffin nail in the economy a lot of people think it will be? Embarrassed that my messiah is now resorting to emails to departments to make cuts as painful as possible just for political points? Embarrassed that I backed a guy who promised to cut the deficit in half in 4 years yet goes on a doom and gloom tour and cries like a stuck pig when a measly 8% of the deficit gets cut.

Yep, that’s me.

And nice try with the sig excuse, I saw your shortened sig and it was 6 lines.

I stand by that sig you moron, you think i would leave that sig up all this long and cut it by 80%?

You're so stupid, you didn't even read the article you posted:

The rally has been driven by improved economic data, said Bill Stone, chief investment strategist for PNC Wealth Management.

You should be embarrassed by yet another thread backfire on you.

 

[Blackjack200]

I think the DJIA is increasingly divorced from the fortunes of middle class (meaning, literally, people earning a median wage) people for a number of reasons.

- Business pay their workers a smaller percentage of their revenues than in the past
- Business rely on more foreign labor
- Speculation may be driving stock prices higher than earnings can reasonably be expected to support

etc.

 

[blankslate]

The DJIA is not a good indicator of how the overall economy is doing.

^truth

Fact is, the Stock Market doesn't believe the spin coming from the White House.

And neither do I.

Uno

Because wallstreet traders by and large don't give a fuck about people in the economy who make money from the work that they provide to their employers. They only care about people who can make a living off interest from their capital.

 

[Phokus]

ADP Jobs Report this morning: http://video.cnbc.com/gallery/?play=1&video=3000152486 (sequester to start knocking 50,000 jobs / month of monthly jobs report around mid-year for about 10 months)

Sequester: http://video.cnbc.com/gallery/?play=1&video=3000152238



Ask the English about harsh austerity, especially when everyone else in the world would like to do the same thing at the same thing (triple dip recession).

Yup, i posted months ago that even pro austerity economists that had signed a letter to the Brit government backing austerity had backtracked once the economy tanked further. Matt is the very definition of insanity, even with proof that his stupid ass policies that he champions doesn't work, he still backs them.

 

[Phokus]

Adding my sig back on, i think i meet the length guidelines now since i cut out all that other stuff. Matt, you're so stupid, i could explain to you till i'm blue in the face how my sig makes sense, but it doesn't matter because you have an iq of a turnip.

Scroll down to lee atwater you dummy and my sig makes total sense:

http://en.wikipedia.org/wiki/Southern_strategy

 

[Matt1970]

I stand by that sig you moron, you think i would leave that sig up all this long and cut it by 80%?

You're so stupid, you didn't even read the article you posted:



You should be embarrassed by yet another thread backfire on you.

If you want to stand my that sig and then call others morons than more power to ya.

The rally has been driven by improved economic data, said Bill Stone, chief investment strategist for PNC Wealth Management.

Meaning the sequester is not bad news as far as the stock market is concerned. A little reading comprehension would serve you well.

 

[Oldgamer]

It's an interesting issue. What exactly does the DJIA mean today and in what ways does it serve as an indicator of the health of the nation's economy? What if it is an indicator of the health of foreign economies? What if it's an indicator of the health of the wealthy at the expense of the lower classes? Perhaps if some businesses were loss profitable but paid higher wages to more people the economy would be better but the DJIA would be lower?

Good questions. All this shows us is large Corps/Businesses and wealthy investors doing well. It is yet to be determined the impact to the middle class and lower class (economic) wise.