Dow Closes At Highest Since '08
 

Nasdaq at highest since December 2000. Encouraging news as the economy continues to mend.


[url=http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-03-16-13-47]News from The Associated Press[/url]

Re: Dow Closes At Highest Since '08
 

And...

Before the market opened, the Labor Department said companies hired 243,000 employees in January. That's the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent.

Re: Dow Closes At Highest Since '08
 

Plus, the fact that the 2012 budget deficit has decrease by 200 billion compared to last year and you got really bad news for the GOP candidate. Well see if they can pin him as America's Captain Scatino.

Re: Dow Closes At Highest Since '08
 

and that is a wrap...all you haters get ready for 4 more years

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No guarantees in politics, but the Dow and the economy are doing well for now. I think whatever happens in Europe will be the focus going forward.

Let's just keep our fingers crossed on all fronts.

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[quote=12thMan;881780]No guarantees in politics, but the Dow and the economy are doing well for now. I think whatever happens in Europe will be the focus going forward.

Let's just keep our fingers crossed on all fronts.[/quote]

Yeah politics aside, this is great news. And yes, fingers crossed.

Re: Dow Closes At Highest Since '08
 

[quote=saden1;881687]Plus, the fact that the 2012 budget deficit has decrease by 200 billion compared to last year and you got really bad news for the GOP candidate. Well see if they can pin him as America's Captain Scatino.[/quote]

Not sure I'd brag on that considering the total debt is over 15 trillion. But whatever.

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[quote=GMScud;881810]Not sure I'd brag on that considering the total debt is over 15 trillion. But whatever.[/quote]

It doesn't reallt bother me as much as it does you guys and at the end of the day it would be around there no matter who is the president.

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[quote=saden1;881814]It doesn't reallt bother me as much as it does you guys and at the end of the day it would be around there no matter who is the president.[/quote]

Cons favorite argument, Pres. Obama ran up record levels of debt.

Re: Dow Closes At Highest Since '08
 

FYI, the deficit and the debt are two distinct, separate concepts. The deficit refers the total amount spent minus the total amount taken in for a single fiscal year. The debt refers to the total amount of dough the government owes, from all previous years. The debt can be thought of as accumulated deficits.

Re: Dow Closes At Highest Since '08
 

Great point.

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[quote=12thMan;881830]Cons favorite argument, Pres. Obama ran up record levels of debt.[/quote]

They refuse to see the reality of this country and how their guys are going solve its budgetary problems which adds to the problem we face. It's sad.

Re: Dow Closes At Highest Since '08
 

[B]Dow Closes At Highest Since '08[/B]

[quote=dmek25;881771]and that is a wrap...all you haters get ready for 4 more years[/quote]
NOT....sure I understand that from you....
Are you sure you don't mean..."It's Bush's fault"?

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[quote=Hog1;881849][B]Dow Closes At Highest Since '08[/B]


NOT....sure I understand that from you....
Are you sure you don't mean..."It's Bush's fault"?[/quote]

Which one is the bank robber and which one is the get-away driver...and where are the driving to? I suspect the bank robber is trying to fill his and his friends coffers.

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I'm telling you guys. Re-Elect Obama and add a couple of Republicans to the Senate and we'll get back to business.

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[quote=saden1;881971]Which one is the bank robber and which one is the get-away driver...and where are the driving to? I suspect the bank robber is trying to fill his and his friends coffers.[/quote]
It is getting hard to tell........
Maybe....it's kill 'em all, let God sort 'em out time?

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[quote=Hog1;881998]It is getting hard to tell........
Maybe....it's kill 'em all, let God sort 'em out time?[/quote]

You aint got enough muscle to kill a baron robber...we should join forces and rob the barons.

Re: Dow Closes At Highest Since '08
 

About 15 years ago my next door neighbor was serious when he told me one day that the U.S. could not be saved in it's current state. He told me flatly it would require a revolution. Even though we were friends, I thought my myself at the time....what a nutcase..
but........

Re: Dow Closes At Highest Since '08
 

[quote=Hog1;882203]About 15 years ago my next door neighbor was serious when he told me one day that the U.S. could not be saved in it's current state. He told me flatly it would require a revolution. Even though we were friends, I thought my myself at the time....what a nutcase..
but........[/quote]

What kind of revolution is he talking about? Violent kind? Those kinds of revolutions tend to fail more often then not...he may not be nuts but he is definitely retarded.

I'm leaning towards robbery and getting a piece of the action.

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[quote=SirClintonPortis;881832]FYI, the deficit and the debt are two distinct, separate concepts. The deficit refers the total amount spent minus the total amount taken in for a single fiscal year. The debt refers to the total amount of dough the government owes, from all previous years. The debt can be thought of as accumulated deficits.[/quote]

FYI, I'm fully aware of the difference between debt/deficit. Bragging about lowering the deficit $200B last year seems pretty shortsighted in light of the fact that he's raised the debt by over 5 TRILLION during his presidency. Regardless, to the point of this thread, I'm glad the markets are performing well.

This isn't directed at you, but a point I'd like to reiterate: My criticism of the Obama administration should not be wrongly interpreted as an endorsement of the right wing.

Basically at this point I'm a less abrasive version of NCSkins when it comes to American politics. I'm not really feeling either side.

Re: Dow Closes At Highest Since '08
 

[quote=GMScud;882582]FYI, I'm fully aware of the difference between debt/deficit. Bragging about lowering the deficit $200B last year seems pretty shortsighted in light of the fact that he's raised the debt by over 5 TRILLION during his presidency. Regardless, to the point of this thread, I'm glad the markets are performing well.

This isn't directed at you, but a point I'd like to re-iterate: My criticism of the Obama administration should not be wrongly interpreted as an endorsement of the right wing.

Basically at this point I'm a less abrasive version of NCSkins when it comes to American politics. I'm not really feeling either side.[/quote]

Good post, Scud. But when you say "Obama" has raised the debt by over $5 Trillion, that's not entirely true. What is true is that it has [I]increased[/I] since the day he took office, but only a portion of that is a direct result of his policies. Fact is we're still paying for the wars, Medicare B, and yes, Obama decided to extend the Bush tax cuts for another 2 years.

The broader point still remains though, regardless of who's in office, the country needs to get spending under control.

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[quote=12thMan;882591]Good post, Scud. But when you say "Obama" has raised the debt by over $5 Trillion, that's not entirely true. What is true is that it has [I]increased[/I] since the day he took office, but only a portion of that is a direct result of his policies. Fact is we're still paying for the wars, Medicare B, and yes, Obama decided to extend the Bush tax cuts for another 2 years.

[B]The broader point still remains though, regardless of who's in office, the country needs to get spending under control[/B].[/quote]

To your first paragraph- fair enough, that increase certainly wasn't all due to his policies.

To the point in bold, the massive scaling-back of our military presence in Iraq and Afghanistan should really help. May help us catch up to some of the President's domestic spending. :) But hey, I'd rather spend money on America than on wars.

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[quote=GMScud;882611]To your first paragraph- fair enough, that increase certainly wasn't all due to his policies.

To the point in bold, the massive scaling-back of our military presence in Iraq and Afghanistan should really help. May help us catch up to some of the President's domestic spending. :) But hey, I'd rather spend money on America than on wars.[/quote]

Agreed. Afghanistan has been such an epic waste of resources. I really hope Obama escalates his withdrawal plans if he get's reelected.

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[quote=12thMan;881830]Cons favorite argument, Pres. Obama ran up record levels of debt.[/quote]
And what part of that is not correct but to make you feel good he doing just a wonderful job.

Re: Dow Closes At Highest Since '08
 

[quote=firstdown;882708]And what part of that is not correct but to make you feel good he doing just a wonderful job.[/quote]

I don't need to feel good about Obama, we all have a vested interest in seeing him or whomever is next succeed for the benefit of the country.

The day President Obama took office the deficit stood at $10.6 trillion. It currently stands at roughly north of $15.2trillion. If you simply look at the cost of his policies over the past 3 years, the total is probably closer to $1 trillion, not the $4.7 trillion. But there a couple of different ways to look at it.

But as it relates to this thread Wall Street, at least for now, appears to be impervious to the nation's growing deficit and Washington's inability to get it under control.

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[quote=12thMan;882716]I don't need to feel good about Obama, we all have a vested interest in seeing him or whomever is next succeed for the benefit of the country.

The day President Obama took office the deficit stood at $10.6 trillion. It currently stands at roughly north of $15.2trillion. If you simply look at the cost of his policies over the past 3 years, the total is probably closer to $1 trillion, not the $4.7 trillion. But there a couple of different ways to look at it.

But as it relates to this thread Wall Street, at least for now, appears to be impervious to the nation's growing deficit and Washington's inability to get it under control.[/quote]

If you're going to count score at least be good at it. When Obama took office the 2008 budget with a deficit of 1.3 trillion was already set in stone not to mention supplemental military budget during 08. In the best case the debt was at the very least 11.9 trillion. And of course you can't have successful funny math if you don't count the entire TARP and auto-bailout spending against Obama.

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This is a fair explanation:
[URL="http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html"]
Nobody Understands Debt[/URL]

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[quote=GMScud;882582]FYI, I'm fully aware of the difference between debt/deficit. Bragging about lowering the deficit $200B last year seems pretty shortsighted in light of the fact that he's raised the debt by over 5 TRILLION during his presidency. Regardless, to the point of this thread, I'm glad the markets are performing well. [/quote]

Cool. I only meant to inform those who did not know, but I admit I wasn't clear about that.

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[quote=Mattyk;881664]And...

Before the market opened, the Labor Department said companies hired 243,000 employees in January. That's the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent.[/quote]

[url=http://www.washingtontimes.com/news/2012/feb/5/curl-obamas-made-up-jobless-numbers/]CURL: Obama's made-up jobless numbers - Washington Times[/url]

I think someone else mentioned that the primary fear out there is Europe. I cant agree more and for the most part i feel the American economy is pretty healthy, its threat of contagion from Europe that worries me.

Re: Dow Closes At Highest Since '08
 

[quote=GMScud;882582][B]FYI, I'm fully aware of the difference between debt/deficit. Bragging about lowering the deficit $200B last year seems pretty shortsighted[/B] in light of the fact that he's raised the debt by over 5 TRILLION during his presidency. Regardless, to the point of this thread, I'm glad the markets are performing well.

This isn't directed at you, but a point I'd like to reiterate: My criticism of the Obama administration should not be wrongly interpreted as an endorsement of the right wing.

Basically at this point I'm a less abrasive version of NCSkins when it comes to American politics. I'm not really feeling either side.[/quote]

It's not bragging, it's actually a huge accomplishment given that when he came into office the the deficit was 1.3 trillion and the economy was in the tank. Obama took necessary steps to right the ship that a sane person would take and for that he deserves some credit.

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The Dow will probably cross 13,000 by week's end.

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[quote=mlmpetert;882840][url=http://www.washingtontimes.com/news/2012/feb/5/curl-obamas-made-up-jobless-numbers/]CURL: Obama's made-up jobless numbers - Washington Times[/url]

I think someone else mentioned that the primary fear out there is Europe. I cant agree more and for the most part i feel the American economy is pretty healthy, its threat of contagion from Europe that worries me.[/quote]

Umm...1.2 million people didn't suddenly drop out of the labor market propping up the unemployment rate. This is an annual population adjustment from 2010 done by the Census Bureau, which they post ensuing January.

While the labor market has been going through a 30 year correction, there are some economic forces at work..others like people retiring, home parenting, returning to college, death, starting a business, etc. Lot's of factors at play.

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[quote=12thMan;883097]Umm...1.2 million people didn't suddenly drop out of the labor market propping up the unemployment rate. This is an annual population adjustment from 2010 done by the Census Bureau, which they post ensuing January.

While the labor market has been going through a 30 year correction, there are some economic forces at work..others like people retiring, home parenting, returning to college, death, starting a business, etc. Lot's of factors at play.[/quote]


All I got from that POS conspiratorial article is that the rate is going down, we don't know what exactly BLS is doing but it's something wrong. Of course the question then becomes "is whatever BLS is doing standard practice?" and "why hasn't obama been rigging the numbers from day one?"

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Exactly! LOL..if he was going to cook the books, shit, he should have thought about it during the mid-terms and held onto the House.

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All partisan bull aside, I know everyone's cheering for a strong recovery. I'll let the pitbull Saden1 doing the talking and strutting:)

A little more good news..

[url=http://www.businessinsider.com/december-consumer-credit-2012-2]CONSUMER CREDIT DEMOLISHES EXPECTATIONS, GROWS $19 BILLION[/url]