This is an AMAZING windfall for all of us! Just imagine... a 13,000 DOW can buy everything that a 1995 DOW at 1000 could buy!!
Obamanomics:
Unemployment is down... as long as you don’t include the millions of people who have been unemployed so long that they no longer qualify for unemployment benefits.
Inflation is down... as long as you don’t include commodity prices like oil and food in your calculations.
Manufacturing output is way up... as long as you include the assembly rather than the production numbers, for things that are assembled here from foreign-made components.
“record $7.6 billion profit”
Nobody run out and buy their stock just yet.
Overseas sales were very bad...domestically, very good. (read: ARRA buying of GM products for every local township and dogcatcher).
First 3 quarters: $7.1 Billion
4th Quarter: $0.5 Billion
(read: every township and dogcatcher has to wait until January to buy another GM car)
And really, if somebody gave me $82 Billion in no interest loans, I would be disappointed if I couldn’t turn a $7 billion profit selling lemonade. How could they not make a profit?
The target for them was 42 cents a share (it seems other people figure they couldn’t help but make money). They ended up below target at 40 cents.
Add in all the ill will, and people who will not ever buy GM again. Figure no more ARRA money will flow to buy these cars...and well, it will not end well for GM. They are underperforming overseas, and relying on cronyism at home. That can’t last.
Oh, we the people still own 26%...and we stand to lose $10 billion at today’s stock price.
Someone explain it to me.
Not surprising to see this upswing in the markets.
Bernanke promised to keep interest rates at 2% or less for the next two years.
The corporations are generating good earnings with the cheap money.
There is no other good place to put excess money at the moment other than the stock market.
Real Estate price increases should also start happening.
Inflated dollars will do that too.
Check out the Zimbabwe stock market while that country was headed into the stoneage. It soared.
Somebody leaked the secret that the president has a terminal disease.
The recession is running out of steam despite all the coals Dems threw in the boiler, so now they get credit for a “recovery’ paid for with our unemployment, foreclosures and a century of debt and welfare.
A very fragile ‘recovery’...
Wait until the shoes start dropping in Europe.
Anticiation of obama getting the boot. Everyone wants to get into the market now.