Dow 10,000!!!

ABC Radio | 12/11/03 | will1776

[WinOne4TheGipper]

The Dow just closed above 10,000.

[WinOne4TheGipper]

IRN, Tom Daschle is deeply saddened.

[South40]

Puff Daschle and every other dimRAT.

[The_Victor]

At 4:03PM ET: 10,008.16 86.30 (0.87%) to be precise

[familyofman]

Wohoooo - let's party like it's 1999! What does it all mean - a dawning of a new age with stocks at excessive pe's.

[devnull]

DNC on Life Support

[dagar]

So I wonder what the P&E mix is like this time around?

[isthisnickcool]

Check this out!

[spokeshave]

TDIS

[ChadGore]

Re: At 4:03PM ET: 10,008.16 86.30 (0.87%) to be precise So this is the first 10k CLOSE ?

[spokeshave]

Make that a tdiDs

[palmer]

What does it all mean

It means 2000-2002 was just a correction.

[Steven W.]

excessive P/E's for the DOW stocks? you've been sucking up too much of that bearish foolishness that pervades these here waters. seriously, it's so absurd it's beyond even funny.

[devnull]

I think this should be Breaking News !?

[mel]

wow

[familyofman]

"...you've been sucking up too much of that bearish foolishness that pervades these here waters."

Just old school I guess & I do my own analysis which includes no water, only good scotch.

[MarkeyD]

But of course, this is the one thing that GW is not responsible for.

[Moose4]

It's all Bush's fault.

:)

}:-)4

[WayneM]

One of the greatest things about this is the anguish it provokes over on the darkside. That low moaning sound you hear is their anguish - as real as it is misplaced.

Check out this post:

F**K!

Please folks, don't start that "We should be happy for people...They are seeing nice gains in their 401k's..yadda yadda" Bottom line, this will HELP BUSH!

I took a look at my IRA today and see it sitting at a three year high. I admit, for a moment, I felt a moment of glee, then I remembered who this is REALLY helping, big corporations, Bush's supporters, and the sheep who think he really did anything to boost the economy.

Like it or not, people vote with their pocketbooks and when they see these big gains, they will be happy. Couple this with the bigger than ever tax refund checks people we getting (Thanks in no small part to the politically motivated tactic of reducing tax brackets across the board in JULY, and making the bill retroactive, so the first 7 months of overpaid taxes will be INCLUDED in your tax refund...in addition to the doubled child credit and marriage penalty drop...my GOD...I know most of tax cuts help the rich, but this shit really will help middle America with larger refunds. ALSO, since Dubya dropped the steel tariffs, the price of nearly everything with metal in it will be DROPPING over the next few months...meaning more spending...more demand...more products sold...more corporate revenue...more jobs needed...We need to admit this and prepare for it.

The people are going to be happy.

They like their tax reductions.

They like cheap prices on stuff.

They like their 401k's being up 40% this year.

If the economy keeps this pace, unemployment will likely be down to 5.5% by next November and we better have a damn good argument against Bush's policies. Is there any way we can take credit for helping the economy? We certainly are going to need an argument for this next year.

From where I sit, it looks like your classic Good News/Good News dilemma. Yeeeeeehaaaaa!

[kingu]

Wohoooo - let's party like it's 1999! What does it all mean - a dawning of a new age with stocks at excessive pe's.

Exactly. What got the DOW to 10,000? Billions invested in retirement funds that buy a limited number of company stocks, increasing the price of those stocks due only to the increase of funds going into the market.

What does the economy gain from this? Yet another thousand CEOs who will get bigger paychecks for doing nothing other than keeping their companies from failing.

It's like the housing prices and the price of health care - so long as people keep dumping their money into the system with no balances in place there will be no method for our supposedly free-market to keep prices in check.

For example, companies that offer health benefits (and unions) continue to just pay the higher prices each year for health care rather than simply saying, "Nope, come back with a cheaper rate or we won't buy."

The whole thing is stupid. A company will put out a contract for paper clips, going with the lowest bid (even if it is a matter of pennies) yet they'll stick with insurance companies that raise their rates 10-15 percent per year.

A shame that the huge amount of money being wasted in the market wasn't being used to create new businesses and create long term improvements in the economy.

[brewcrew]

How many Dow 10,000 threads do we need? I think this is the 4th or 5th today.