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And We're Back! Dow 14,000 Fuels a New Wealth Boom
CNBC ^ | Friday, 1 Feb 2013 | Robert Frank

Posted on 02/01/2013 3:13:45 PM PST by Mrs. Frogjerk

The next American wealth boom has officially begun.

It may not feel like it for many Americans. But with the Dow breaching 14,000, shareholders and investors have recovered the more than $8 trillion in wealth lost during the recession and attained levels of paper wealth they haven't seen since the Roaring Oughts.

The stock market has gone from wealth destroyer to the nation's largest manufacturer of new millionaires and billionaires. The market moves are creating a new virtuous cycle of confidence for the wealthy. A new survey from Spectrem Group shows that millionaire confidence in the economy hit the highest level in two years, led by their bullishness on the economy and corporate earnings.

The big question now is what the next Gilded Age will look like, who will benefit and how long the market-fueled prosperity will last.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: 000; 14; dow; wealthboom
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What is this guy smoking?
1 posted on 02/01/2013 3:13:57 PM PST by Mrs. Frogjerk
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To: Mrs. Frogjerk

I don’t know, but I want some!


2 posted on 02/01/2013 3:16:27 PM PST by basil (basil)
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To: Mrs. Frogjerk

The next bubble is about to burst.


3 posted on 02/01/2013 3:16:43 PM PST by Huskrrrr
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To: Mrs. Frogjerk

I have a few stocks I bought a few years ago that are 50% of their value. Yea its roaring back alright.


4 posted on 02/01/2013 3:18:09 PM PST by US_MilitaryRules (Unnngh! To many PDS people!)
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To: Mrs. Frogjerk

Tingling sensations.


5 posted on 02/01/2013 3:18:37 PM PST by ConservativeStatement (Obama is the "Disco Duck" president. A no-substance novelty that reached number one.)
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To: Mrs. Frogjerk

Usually when the msm writes glowing reports about stocks, it’s over. It use to be when a story hit the cover of Time magazine it was definitely over.


6 posted on 02/01/2013 3:22:57 PM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: Mrs. Frogjerk

I just got out today near session highs. Will get back in later this month on a decent pull back.

I try to stay on the sidelines the majority of the time, because reality will come eventually and the sidelines will be the place to be.

My real estate holdings went up nicely in 2012 also.

I’m not saying this to make responders look bad, just saying that there are a variety of outcomes.


7 posted on 02/01/2013 3:25:23 PM PST by cicero2k
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To: Mrs. Frogjerk

Inflation affects stock prices too.


8 posted on 02/01/2013 3:25:39 PM PST by The Duke
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To: Mrs. Frogjerk

I don’t expect this to last, but for today I am $miling.


9 posted on 02/01/2013 3:30:26 PM PST by Gator113 (Leave my guns alone and REGISTER THE DAMN LIBERALS!!)
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To: Mrs. Frogjerk

Who was the guy who said in the ‘20s “When I start getting stock tips from the shoeshine boy, it’s time to get out of the market”?

Morgan?

Rockefeller?


10 posted on 02/01/2013 3:30:59 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Mrs. Frogjerk

Virtuous cycle? Looks more like a virtual cycle to me—virtual prosperity fueled by a bubble full of bubbles.


11 posted on 02/01/2013 3:32:17 PM PST by skr (May God confound the enemy)
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To: Mrs. Frogjerk
They're crowing that the market has crossed 14,000 and my be heading for an all-time high. If you remember that ALL-TIME high took place in 2007 just before the REAL ESTATE BUBBLE IMPLODED and the roof promptly fell in and they quickly BLAMED Bush.

This time around I doubt that the "it's Bush's fault" will hold water.

12 posted on 02/01/2013 3:37:29 PM PST by VideoDoctor
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To: DuncanWaring

The ‘stock tips from shoeshine boy’ is attributed to old Joe Kennedy, who pulled his money out of markets before the collapse and bought real estate cheap during the Depression. Real estate was Kennedy’s connection to the Chicago political machine that stole the 1960 election for JFK.


13 posted on 02/01/2013 3:40:19 PM PST by jjotto ("Ya could look it up!")
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To: Mrs. Frogjerk

Party like it’s 1929!


14 posted on 02/01/2013 3:46:47 PM PST by Chuckster (The longer I live the less I care about what you think.)
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To: Mrs. Frogjerk

Adjusted for inflation, it’s what?


15 posted on 02/01/2013 3:48:53 PM PST by I want the USA back
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To: Mrs. Frogjerk

‘paper wealth’ Most important two words in that entire piece!

This is going to be fun, LOL!


16 posted on 02/01/2013 3:50:22 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: US_MilitaryRules

Got RGR? What ever you are holding slap trailing stops on everything now.


17 posted on 02/01/2013 3:53:25 PM PST by Chuckster (The longer I live the less I care about what you think.)
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To: All

“The population of individual millionaires (as opposed to households) rebounded to its all-time high two years ago. According to CapGemini, there were 3.35 million millionaires in North America in 2011, up from 3.2 million in 2007. Their total wealth in 2011 was just shy of the 2007 peak, at $11.7 trillion.”

‘These selfish b@stards need to pay more in taxes!!’ Said No Conservative Ever

*SMIRK*


18 posted on 02/01/2013 3:54:38 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Mrs. Frogjerk

Woohoo! It’s the new new economy. Nothing can possibly go wrong!


19 posted on 02/01/2013 3:55:15 PM PST by ArcadeQuarters (GOP: New leadership NOW!)
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To: VideoDoctor

Of course it will, because at no time during the entire recession, did any elected Republican or Republican consultant properly describe it was liberalism, and not anything Bush did, that caused it.

A lie only hardens over time if not refuted, it does not die a death of natural causes.


20 posted on 02/01/2013 3:56:14 PM PST by C. Edmund Wright
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