Dow tops 13,000 for first time (WE'RE ALL GONNA DIE! no wait)

Marketwatch.com ^ | April 25, 2007 | Tom Kilgore

[abb]

NEW YORK (MarketWatch) -- The Dow industrials ($INDU$INDU ) crossed over the 13,000 level in intraday trading for the first time Tuesday, about six months after besting the 12,000 mark. The Dow had topped 12,000 for the first time in intraday trading on Oct. 18 -- it closed above that mark on Oct. 19 -- and it took 127 sessions for the blue chip barometer to reach the next 1,000-point milestone. The Dow has now gained 4.3% since the end of 2006 and 15% over the last year

[tomnbeverly]

and the Dems response...

Damn, This Presidents Economic policies are continually reaching new heights... When will America realize that he has to go... God Forbid if we become a society that has 100 percent employment and everyone is living the American Dream... We will no longer need social programs what will become of us...

[tomnbeverly]

come now... The MSM won’t let it see the light of day..

Economy great... IRAQ A MESS...

Good news has no interest in America... Let the Economy crash and see what happens...

[scratcher]

Being female, I would be afraid to hand anything to the groping, rapist Clinton.  :)

[tomnbeverly]

come now... The MSM won’t let it see the light of day..

Economy great... IRAQ A MESS...

Good news has no interest in America... Let the Economy crash and see what happens...

[mutley]

I’m off to the soup kitchen.

I'll join ya. Any idea the soup of the day?

[GnuHere]

Why can’t she ride the fright elevator?

Meanwhile, I predict the MSM will only be able to deliver the record stock market news by coupling it with yet another story about how bad the real estate mkt is.

[gondramB]

>.I feel a lot of consumer confidence is pegged to the price of gasoline. No matter that adjusted for inflation the price of gas is about what it was in the early eighties, many people I know (who are also making more adjusted for inflation than they were twentyfive years ago) whine and moan about “outrageous” gas prices.<<

Its also important how much the economy has under-performed against Europe and key parts of Asia. The stock market is higher in dollars from roughly 11,000 to 13,000 in six years.

But $11,000 would have bought about 13,700 Euros while todays $13,000 would only buy 8,000 Euros.

We can’t keep up enormous budget and trade deficits and expect to profit. We need a real fiscal conservative at the helm.

[scratcher]

"To hit 13,000 five and a half years after the worst terrorist attack on American soil is amazing."

Absolutely.   We have done extremely well.

[webheart]

Does Bush have any pr people?

No.

[MtnClimber]

It’s global warming. The oceans rise, Dow Jones rises too.

[NoBullZone]

Oh, the MSM may report: “Despite high oil prices and the prospect of ever growing federal deficits, the stock market reached record territory. However, some analysts expect this to be short-lived — cut to analyst from Doom & Gloom Inc — “Yes, I think we are seeing a market bubble, similar to the dot com bubble a few years ago; the technicals are really not there to sustain these price levels.”

Sound about right?

[moose2004]

We’re doomed.

[NoBullZone]

I was close - from AP:

By MADLEN READ and TIM PARADIS, AP Business Writers
30 minutes ago

NEW YORK - It looks like a cause for celebration: The Dow Jones industrial average surged from 12,000 to 13,000 in just six months. But appearances can be deceiving, and there may be more reason to worry rather than rejoice about Wall Street’s latest accomplishment.

[Ernest_at_the_Beach]

Gloom and doom here:

Prepare for U.S. economic downturn, author says

******************************EXCERPT******************************

BOSTON (MarketWatch) -- You don't have to look hard to find people who are pessimistic about the stock market or the economy, but few of them have an argument that is so compelling that it makes a diehard optimist want to act.

In a radio interview with Chuck Jaffe, senior columnist for MarketWatch, Peter Schiff, author of "Crash Proof: How to Profit from the Coming Economic Collapse," propounded a flavor of pessimism that wouldn't actually scare investing bulls but might make them change their tune.

The crux of Schiff's book is that America's economy is inherently flawed, producing too little itself. If the country imports what the world produces without exporting much back -- and if people and businesses don't save, but instead borrow money -- there's a real question about sustainability.

That's why Schiff is predicting a severe real estate downturn, one he says that is well underway, and "the mother of all recessions."

 

[tomnbeverly]

Yeah the MSM has to brace for shock in case the Dems do win the WH in 08... My God the Stock Market will crash and we will be in bread lines... History revisionists will try to blame Bush... LOL...

[abb]

Who was that doom and gloom guy back in the late 70’s who predicted the end of the world? Ravi? I’ll do some research.

[abb]

Ravi Batri

http://www.amazon.com/Great-Depression-1990-Ravi-Batra/dp/0440201683

[teeman8r]

the market is just responding to the fact that gw bush can no longer run this economy into the ground and that a democratic administration will soon be at the helm to ride this wave of consumer confidence.

teeman

that or rosie odonnell announced she was leaving the view.

[nepppen]

She couldn’t handle using one square of tp.

[EGPWS]

The rising stock market proves Wall Street is out of touch with Main Street and this economy only helps the greedy rich, the rising stock market proves Wall Street is out of touch with Main Street and this economy only helps the greedy rich, the falling stock market proves Bush is destroying the economy, the falling stock market proves Bush is destroying the economy, the rising stock market proves Wall Street is out of touch with Main Street and this economy only helps the greedy rich, the rising stock market proves Wall Street is out of touch with Main Street and this economy only helps the greedy rich, the falling stock market proves Bush is destroying the economy...

No, IMO the dem's response will be we are doing too well financially and it's not fair so we need to share our wealth more via taxation.