Five and a half years after the start of a frightening drop that erased $11 trillion from stock portfolios and made investors despair of ever getting their money back, the Dow Jones industrial average has regained all the losses suffered during the Great Recession and reached a new high. The blue-chip index rose 125.95 points Tuesday and closed at 14,253.77, topping the previous record of 14,164.53 on Oct. 9, 2007, by 89.24 points.
"It signals that things are getting back to normal," says Nicolas Colas, chief market strategist at BNY ConvergEx, a brokerage. "Unemployment is too high, economic growth too sluggish, but stocks are anticipating improvement."
The new record suggests that investors who did not panic and sell their stocks in the 2008-2009 financial crisis have fully recovered. Those who have reinvested dividends or added to their holdings have done even better. Since bottoming at 6,547.05 on March 9, 2009, the Dow has risen 7,706.72 points or 118 percent.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
So those who stayed in are now just breaking even over 5 years whoo hoo, those who put their money in other commodities came out good in between the crash.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
I never thought I'd see box cheering for corporate profits. I guess his support for the Occupy Wall St bums was just posturing. With the total work force down 5% from 07 and unemployment near 8%, I have to say I'm surprised to see box cheering on the greed on Wall St.
I never thought I'd see box cheering for corporate profits. I guess his support for the Occupy Wall St bums was just posturing. With the total work force down 5% from 07 and unemployment near 8%, I have to say I'm surprised to see box cheering on the greed on Wall St.
Cheerleader for government chosen, corporate welfare queens.
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