Dow at Record High

Tuesday, March 05, 2013

Stocks surged Tuesday at the opening bell, as the Dow Jones industrial average sailed past its all-time closing high of 14,164.53 set back in October 2007. The Dow opened above its record closing high set Oct. 9, 2007, before the market collapsed in the housing market meltdown. As of 9:41 a.m. Eastern, the Dow was at 14222.94.

Posted by rcade at 09:42 AM | 128 COMMENTS | permalink | Comment on This Entry |

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rcade

Joined 2003/04/04
Visited 2013/05/22

Status: editor

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QE1, 2 & 3 were sold as a help to the economy but it only helps the Banks, by design. All market indicators except Corporate profits are down. Corproate profits are awash in labor savings, not domestic sales growth. Which bubble will burst first?

#1 | Posted by nutcase at 2013-03-05 09:58 AM | Reply | Flag:

"Stocks surged Tuesday at the opening bell, as the Dow Jones industrial average sailed past its all-time closing high of 14,164.53 set back in October 2007."

Zzzzzzz...yawwwwn...

"CHAPEL HILL, N.C. (MarketWatch) -- Too many investors are getting carried away in their excitement about the Dow Jones Industrial Average's return to the vicinity of its all-time high from late 2007 -- and therefore overlooking a depressing fact:

Even if the Dow DJIA+0.81% does succeed in eclipsing that high, it still will have provided investors with a zero return over the last five and one-half years. Coupled with the bursting of the Internet bubble at the turn of the century, this means that even the market's longer term returns are well below average: Over the last 15 years, for example, equities have produced a total return of less than half their historical norm.

What's all the excitement about?"

www.marketwatch.com

#2 | Posted by jestgettinalong at 2013-03-05 10:16 AM | Reply | Flag:

Obama's fault.
Bummer.
~ The Always Complaining Riiiiiight

#3 | Posted by Doc_Sarvis at 2013-03-05 10:23 AM | Reply | Flag:

Wooppie, It only cost us 6.5 trillion to get the DOW to 14,250.

#4 | Posted by paneocon at 2013-03-05 10:24 AM | Reply | Flag:

And wait when they have to unwind that 6.5 trillion if ever. What would really put the Fed in a dilemma is if rates start to go up on their own volition---then watch the fireworks. Even the idiot Cramer is starting to figure it out and saying this will end badly. Duh.

#5 | Posted by matsop at 2013-03-05 10:28 AM | Reply | Flag:

I'm going long volatility since it's only a matter of time. The pros are trying to suck the average investor into fantasy land.

#6 | Posted by matsop at 2013-03-05 10:30 AM | Reply | Flag:

No problem here, Nothing to see, just move along.

"Mission Accomplished" - With CNBC now lost for countdown-able targets (though 20,000 is so close), we leave it to none other than Jim Cramer to sum up where we stand (oh and the following list of remarkable then-and-now macro, micro, and market variables): "we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else."

Dow Jones Industrial Average: Then 14164.5; Now 14164.5
Regular Gas Price: Then $2.75; Now $3.73
GDP Growth: Then +2.5%; Now +1.6%
Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
Americans On Food Stamps: Then 26.9 million; Now 47.69 million
Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
US Deficit (LTM): Then $97 billion; Now $975.6 billion
Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
US Household Debt: Then $13.5 trillion; Now 12.87 trillion
Labor Force Particpation Rate: Then 65.8%; Now 63.6%
Consumer Confidence: Then 99.5; Now 69.6
S&P Rating of the US: Then AAA; Now AA+
VIX: Then 17.5%; Now 14%
10 Year Treasury Yield: Then 4.64%; Now 1.89%
EURUSD: Then 1.4145; Now 1.3050
Gold: Then $748; Now $1583
NYSE Average LTM Volume (per day): Then 1.3 billion shares; Now 545 million shares

www.zerohedge.com

#7 | Posted by paneocon at 2013-03-05 10:30 AM | Reply | Flag:

Well, with the sloooow collapse of the US dollar this would make sense. Prices go up when the dollar is worth less, and that goes for stocks as well.

#8 | Posted by kamakiri at 2013-03-05 10:34 AM | Reply | Flag:

With trillion dollar deficits and no budgets or spending discipline from the Dems, the phony Dow party is just getting started. When the sun comes up and the reality finally sets in on you effing Progressives the economic hangover I'm sure you will find yourselves unaccountable. The blank check mentality of the left needs to come to an end.

#9 | Posted by bph320 at 2013-03-05 10:39 AM | Reply | Flag:

Consumer Confidence: Then 99.5; Now 69.6

Wow! Boy, were they duped!

#10 | Posted by mad_as_hell at 2013-03-05 10:41 AM | Reply | Flag:

#8 | Posted by kamakiri

Except for the fact the collapse of the US dollar is not so slow over the past 12 years or so. It pretty much drove off a cliff except the average consumer doesn't really have a clue yet. The ONLY reason the average person can afford things is China has firm reigns on their currency value. Even the Euro despite all the problems in Europe has us significantly out valued now. It stands at about double what it was worth about 10-11 years ago in comparison.

#11 | Posted by GalaxiePete at 2013-03-05 10:42 AM | Reply | Flag:

Just so you do t think I am party biased, I feel the same amount of contempt for those on the right who are just as incompetent to be at the helm of the public trough. Live within your means. We have to.

#12 | Posted by bph320 at 2013-03-05 10:43 AM | Reply | Flag:

Wooppie, It only cost us 6.5 trillion to get the DOW to 14,250.

That was good.

#13 | Posted by sames1 at 2013-03-05 10:47 AM | Reply | Flag:

Everything is coming up roses in Sequestration Land.

#14 | Posted by sames1 at 2013-03-05 10:48 AM | Reply | Flag:

Yeehaw! There ain't nutin gonna stop this gravy train. It'll never stop. Thank you Obama. We have nothing to fear. ;)

#15 | Posted by Daniel at 2013-03-05 10:49 AM | Reply | Flag:

#9 | Posted by bph320

Look it was the war mongering greedy right that put us in this position. They allowed the banks to get away with creating the housing bubble and sent us into two wars that have cost over $4 TRILLION to date. Nice misdirection though. Yes the Democrats and a few Republicans seen the need to bail out the economy and drove the debt up significantly. The problem is that in the long run we didn't do ANYTHING to solve the problems. Banks are back to their games, Auto industry didn't learn squat, etc. That said, unless both sides come to reason we will end up in default. At this point I just don't care if we do go there.

Quit frankly I am PO'd at all of them. They have ruined pretty much any chance I will every see any of the thousands every year I poor into SS and MC. It would be nice to have that for my own retirement which may not happen...

#16 | Posted by GalaxiePete at 2013-03-05 10:51 AM | Reply | Flag:

I am staying FAR away from stocks. I have never seen a more hollow metric than the DOW. This has to be the definition of a bubble. There is NOTHING backing this.

Plan:

1. Save
2. Metal Bullion(gold or silver)
3. Ammo
4. Land

#17 | Posted by boaz at 2013-03-05 10:51 AM | Reply | Flag:

#12 | Posted by bph320

Was typing my reply when you put that up...

#18 | Posted by GalaxiePete at 2013-03-05 10:52 AM | Reply | Flag:

They allowed the banks to get away with creating the housing bubble

Not really:

www.businessinsider.com

Basically, it was under Clinton that Fannie and Freddie really began blowing the housing bubble, issuing epic amounts of mortgage-backed debt.

#19 | Posted by sames1 at 2013-03-05 10:54 AM | Reply | Flag:

Just went long volatility again. You wonder what is the excuse for these markets to head south. It just might be first quarter earnings that start to come out in 4 weeks. None of these markets are real any longer; the manipulation is unbelievable. They're manipulating the precious metal markets as well. Sometimes, I hope the whole thing implodes so the American people get angry enough to throw out the Federal Reserve and the banking industry.

#20 | Posted by matsop at 2013-03-05 10:55 AM | Reply | Flag:

Good news.....but it might not last long.

#21 | Posted by eberly at 2013-03-05 10:57 AM | Reply | Flag:

I have always said, putting in a little bit of money and expecting alot back just doesnt make sense to me. It's called a pyramid scheme and that's exactly what we have in our entitlement system.

#22 | Posted by boaz at 2013-03-05 10:57 AM | Reply | Flag:

"we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else."

Isn't that always the case with the stock market? Nothing goes up forever.

I love how good economic news is always bad news here. The Dow being at 14,200 is a hell of a lot better than the Dow being at 6,500 -- as it was just four years ago.

#23 | Posted by rcade at 2013-03-05 10:58 AM | Reply | Flag:

It's called a pyramid scheme and that's exactly what we have in our entitlement system.

Social Security has been around since 1935. Pyramid schemes don't last 78 years.

#24 | Posted by rcade at 2013-03-05 11:00 AM | Reply | Flag:

I hope the whole thing implodes so the American people get angry

The American people will only get angry if the liberal media tells them to..

#25 | Posted by boaz at 2013-03-05 11:00 AM | Reply | Flag:

I love how good economic news is always bad news here. The Dow being at 14,200 is a hell of a lot better than the Dow being at 6,500 -- as it was just four years ago.

#23 | Posted by rcade at 2013-03-05 10:58 AM | Reply |

The good news is built on funny money printed by the Fed----that capital has to go somewhere and that's when bubbles are created. If this thing goes, Rcade will be thankful for a Dow at 6,500.

#26 | Posted by matsop at 2013-03-05 11:01 AM | Reply | Flag:

Social Security has been around since 1935. Pyramid schemes don't last 78 years.

They do when they are sactioned by govt and held up by a seemingly infinitive funding source.

That source is about to come to an end.

#27 | Posted by boaz at 2013-03-05 11:01 AM | Reply | Flag:

That source is about to come to an end.

People have been saying that for 50 years. Social Security's long-term health is not hard for Washington to tackle. The program never spent more than it took in from 1983 to 2010. All it would take to bring it into balance is a minor chunk of the defense budget, which is bloated as hell.

#28 | Posted by rcade at 2013-03-05 11:07 AM | Reply | Flag:

If this thing goes, Rcade will be thankful for a Dow at 6,500.

Right. Because doom is always just around the corner. We recovered from the housing bubble. We recovered from the dot-com bubble. We can adjust to the Fed changing its policies in the future.

#29 | Posted by rcade at 2013-03-05 11:10 AM | Reply | Flag:

"It would be nice to have that for my own retirement which may not happen..."

Certainly not as long as you and your little pals are voting for "progressive" Democrats.

#30 | Posted by jestgettinalong at 2013-03-05 11:16 AM | Reply | Flag:

A. So the market is not scared by the sequester?

B. Why do we need QE 3 if things are so good?

#31 | Posted by DavetheWave at 2013-03-05 11:17 AM | Reply | Flag:

"Basically, it was under Clinton that Fannie and Freddie really began blowing the housing bubble, issuing epic amounts of mortgage-backed debt."

Hilarious, the Bush years with the insanity that went on during them never really happened,it's all Bill Clinton's fault. Incredible attempts to deflect responsibility for the worst economic disaster since the Great Depression.

#32 | Posted by danni at 2013-03-05 11:19 AM | Reply | Flag:

We recovered from the housing bubble.

Recovered? I consider the bursting of the bubble a recovery. And you are correct about the Dot com bubble...

What bursting of bubbles does is, it puts the average people back in their place..

With the housing bubble, you had ordinary people buying and selling homes like they were cars and making thousands of dollars of profit that just were not there. The bubble burst and alot of ordinary people got burnt in a market they should not have been in in the first place.

In the dot com bubble, you had every swinging john coming in thinking that just because he could set up a printer, he automatically became a Systems admin. The market flooded and the creme naturally rose to the top. Now you have a glut of people going to trade schools learning basic admin further diluting the job pool. No one is making any money unless you are a programmer of the most difficult lanquages.

#33 | Posted by boaz at 2013-03-05 11:19 AM | Reply | Flag:

#16 | Posted by GalaxiePete at 2013

REALLY PETE..not one WORD about the democrat led and supported Mae and Mac boondoogle to people who NO ONE thought they could afford..not even ONE WORD?// interesting..

#34 | Posted by afkabl2 at 2013-03-05 11:21 AM | Reply | Flag:

It would be nice to have that for my own retirement which may not happen

I never understood how a democrat thinks that money "is going to be there for me" when the same govt they gave their money to is using it for programs for people who are not contributing anything. This govt spends money just as soon as it gets it. Why would you think they have money laying around?

#35 | Posted by boaz at 2013-03-05 11:21 AM | Reply | Flag:

What bursting of bubbles does is, it puts the average people back in their place.

The lesson you took from the burst of the housing bubble is that regular people needed to be put in their place?

Crazy. The people who need to be put in their place are the mortgage and banking execs who made those loans and repackaged them into derivatives, knowing they were all junk. And the place is prison.

#36 | Posted by rcade at 2013-03-05 11:23 AM | Reply | Flag:

"Basically, it was under Clinton that Fannie and Freddie really began blowing the housing bubble, issuing epic amounts of mortgage-backed debt."

#32 | Posted by danni at 2013-03

COME ON DANNI...you can disagree or argue a lot of stuff but when you ignore what maxine waters and barney frank and senators like dodd and such said WHEN THE BUSH ADMINISTRATION tried to do something then...then you've got much less of a case...

#37 | Posted by afkabl2 at 2013-03-05 11:25 AM | Reply | Flag:

AND SURELY I dont have to find their quotes then and put them here AGAIN do I.

what they said as they later HAD TO BE BAILED OUT while Franklin Rich made off with MILLIONS..????????

#38 | Posted by afkabl2 at 2013-03-05 11:26 AM | Reply | Flag:

Dow Jones high on Fed steroids
www.usatoday.com

I think we have learned since the dotcom bubble the market indices are not a good economic indicator..... but maybe you haven't learned that yet, but you will, I hope not the hard way.

#39 | Posted by AndreaMackris at 2013-03-05 11:27 AM | Reply | Flag:

The lesson you took from the burst of the housing bubble is that regular people needed to be put in their place?

Show me I'm wrong. Once the bubble burst, (I dont have links), But I saw where the number of Real Estate agents dropped off a cliff once there were no buyers.

And you are in IT RCADE...

YOU know at the beginning of the 2000's, there were just too many admins. Now, a 2008R2 admin is a dime a dozen and the market is saturated. You cant get $150K a year for changing a backup tape like you could during the bubble.....

So yes, the bottom segment of the market got put back in it's place.

#40 | Posted by boaz at 2013-03-05 11:29 AM | Reply | Flag:

Post 9/11 taught me a lot about how meaningless this really is.

When it crashed, it was just an adjustment to factor in the bubbles
When it got better, it was a sign things were improving.
When it went down again, it was another adjustment to what it really should have been.
When it got better, it was a sign things were improving again.

Funny how both can be so good, huh?

#41 | Posted by kanrei at 2013-03-05 11:30 AM | Reply | Flag:

"The people who need to be put in their place are the mortgage and banking execs who made those loans and repackaged them into derivatives, knowing they were all junk."

Encouraged, guaranteed and propped up by the government (read taxpayers.)

#42 | Posted by jestgettinalong at 2013-03-05 11:31 AM | Reply | Flag:

a regular laugh riot..

#43 | Posted by afkabl2 at 2013-03-05 11:32 AM | Reply | Flag:

It is. Two examples of this great word play:

Simpsons: It is not a new tax, but a temporary refund adjustment.

Hogan's Heroes: It is not a retreat, but a stragegic withdraw.

#44 | Posted by kanrei at 2013-03-05 11:35 AM | Reply | Flag:

I have been reading about the FED...

is it fair to say that as long as the fed keeps rates low and keeps buying 84 billion in this and that...this will all be good..
BUT WHEN THEY don't on either or both...that a crash of some sort inflation will choke the life out of any economic gains..

and how would something like that affect the market?

#45 | Posted by afkabl2 at 2013-03-05 11:35 AM | Reply | Flag:

Plan:

1. Save
2. Metal Bullion(gold or silver)
3. Ammo
4. Land
5. Watch Rambo and Chuck Norris films while waiting for the world to end.

#46 | Posted by kamakiri at 2013-03-05 11:36 AM | Reply | Flag:

I chuckle when people think the "housing bubble" is over----not necessarily according to the Case-Shiller's chart for housing data gathered over 100 years. It appears there are good odds we may have another leg down. Also, rcade humors us when he thinks government and the Federal Reserve (essentially own the government) can get us out of all the troubles they've created. That kind of thinking just gets me to buy more precious metals.

#47 | Posted by matsop at 2013-03-05 11:37 AM | Reply | Flag:

#39 | POSTED BY ANDREAMACKRIS

I posted that story this morning. I thought it was interesting that USA today covered this.

www.drudge.com

#48 | Posted by paneocon at 2013-03-05 11:38 AM | Reply | Flag:

Encouraged, guaranteed and propped up by the government (read taxpayers.)

The government played a role, but the banksters and mortgage execs were the ones who exploited the system and knew it would all come crashing down someday.

#49 | Posted by rcade at 2013-03-05 11:39 AM | Reply | Flag:

#46 | POSTED BY KAMAKIRI

Plan:
1. Ground
2. Guns
3. Gold
4. Garden
5. Ground water

My plan.

#50 | Posted by paneocon at 2013-03-05 11:39 AM | Reply | Flag:

Is there any doubt the righties here would be crowing about Mitt's business acumen if he were president right now?

#51 | Posted by schifferbrains at 2013-03-05 11:41 AM | Reply | Flag:

#45 | Posted by afkabl2 at 2013-03-05 11:35 AM | Reply

If the Fed stopped intervening in the bond market, bond yields would go into the stratosphere and the Gummit would have the life sucked out of it since just about all revenue would go to pay interest on our debt. Discretionary spending would be obliterated along with almost all other spending. You wouldn't see inflation since the whole system would be shut down. However, with the ongoing printing of money by the Fed attempting to keep interest rates down is what ultimately will give you inflation the gummit can no longer lie about.

#52 | Posted by matsop at 2013-03-05 11:42 AM | Reply | Flag:

Is there any doubt the righties here would be crowing about Mitt's business acumen if he were president right now?

#51 | Posted by schifferbrains at 2013-03-05 11:41 AM | Reply |

I'll bet at least we would have a budget in the works.

#53 | Posted by matsop at 2013-03-05 11:44 AM | Reply | Flag:

Where are the occupy wall streeters???

The left hasn't really come to terms with them have they? I cheer investors and speculators. I laugh at ows and their disingenuous supporters

#54 | Posted by DavetheWave at 2013-03-05 11:45 AM | Reply | Flag:

"COME ON DANNI...you can disagree or argue a lot of stuff but when you ignore what maxine waters and barney frank and senators like dodd and such said WHEN THE BUSH ADMINISTRATION tried to do something then...then you've got much less of a case..."

Minority members of Congress couldn't have prevented the majority from doing anything they wanted to do. That is one of teh oldest, dumbest and most dishonest talking points to come out of the Housing Bubble aftermath.

#55 | Posted by danni at 2013-03-05 11:54 AM | Reply | Flag:

" I laugh at ows and their disingenuous supporters"

And the hedge fund guys are up in their towers laughing at you.

#56 | Posted by danni at 2013-03-05 11:56 AM | Reply | Flag:

Playing it wary here - only 50% exposure to equities and those are solid dividend paying stocks. Should we have a major correction this year I then would commit more.

#57 | Posted by MSgt at 2013-03-05 11:58 AM | Reply | Flag:

#16 | Posted by GalaxiePete at 2013

As I've told Danni several times, SS was never meant to be a retirement plan. It was never the intent of that insurance program that anyone get back all the money that they paid in, ever.

#58 | Posted by Whatsleft at 2013-03-05 12:02 PM | Reply | Flag:

"The government played a role, but the banksters and mortgage execs were the ones who exploited the system and knew it would all come crashing down someday."

And your heroes in the government didn't know that? Were they just too ignorant or were they actually complicit. Dodd, Frank, and all their supporters like Raines et al, they were all UNAWARE? Our economy which is based on a lot of fiat money is headed the same way right now and the are printing more and more and are all the financial, community organizing wizards in the administration unaware of that TOO?. It appears to me taht any who DO know are constantly denigrated, belittled and attacked by the press....nauseating!

#59 | Posted by jestgettinalong at 2013-03-05 12:03 PM | Reply | Flag:

"And the hedge fund guys are up in their towers laughing at you."

And Little Caesar Barackus and his pals are out on the golf course laughing at YOU!

#60 | Posted by jestgettinalong at 2013-03-05 12:06 PM | Reply | Flag:

Actually the hedge funds have been having their heads handed to them. But to ideologues like you, who cares about facts.

If the left celebrates just remind them how much they supported ows.

#61 | Posted by DavetheWave at 2013-03-05 12:11 PM | Reply | Flag:

That's only R hedge funds jest! The left celebrates D funds, like Soros....or the one w buffet used.

The left doesn't deal with facts. They get low information talking points and forget all about yesterday!

OWS God bless them

#62 | Posted by DavetheWave at 2013-03-05 12:14 PM | Reply | Flag:

"As I've told Danni several times, SS was never meant to be a retirement plan. It was never the intent of that insurance program that anyone get back all the money that they paid in, ever."

Utter nonsense. What it was never intended to do was to finance the federal government with payroll taxes. That's why it has accumulated 2.5 trillion in surplus which has been borrowed to finance unnecessary wars and tax cuts for rich folks.

#63 | Posted by danni at 2013-03-05 12:14 PM | Reply | Flag:

I don't get it. Why are rightwingers so upset to see the Dow Jones Industrial Average hitting record highs? Would they be happier about it if a Republican were in the White House currently?

#64 | Posted by moder8 at 2013-03-05 12:14 PM | Reply | Flag:

"If the left celebrates just remind them how much they supported ows."

Most of us still do support the principles that OWS espoused. The actual group called OWS brought attention to income inequality quite effectively, one could even argue they helped Obama win in 2012 by making more Americans aware of the issues.

#65 | Posted by danni at 2013-03-05 12:16 PM | Reply | Flag:

#55 | Posted by danni at 2013

no hyperbole...no flamboyant witty remark or anything like that. just a simple phrase

you're wrong

#66 | Posted by afkabl2 at 2013-03-05 12:22 PM | Reply | Flag:

What it was never intended to do was to finance the federal government with payroll taxes.

#63 | Posted by danni

It was never intended to do that either. If they had left it alone, it could have been practically self sustaining by now.

#67 | Posted by Whatsleft at 2013-03-05 12:22 PM | Reply | Flag:

no right winger is upset over the record number..
we just aren't going to join the radical left and annoit barry obama as the reason for this record number.

we also understand that a correction is bound to happen and then that does the radical left will be screaming about the gop this and the gop that...

this is GREAT news...if you've for investments in the market...what does the guy working at mcdonalds now instead of downtown have to say about it.

#68 | Posted by afkabl2 at 2013-03-05 12:25 PM | Reply | Flag:

this is GREAT news...if you've for investments in the market...what does the guy working at mcdonalds now instead of downtown have to say about it.

#68 | Posted by afkabl2 at 2013-03-05 12:25 PM | Reply

The average joe isn't in this thing----most of it are traders and hedge funds that were late to the party.

#69 | Posted by matsop at 2013-03-05 12:32 PM | Reply | Flag:

if you are a bankster I am sure you are happy. congratulfuckinglations.

#70 | Posted by AuntieSocial at 2013-03-05 12:34 PM | Reply | Flag:

"If they had left it alone, it could have been practically self sustaining by now."

Had to pay for tax cuts and wars somehow.

#71 | Posted by danni at 2013-03-05 12:36 PM | Reply | Flag:

"you're wrong"

No, I am definitely not wrong. Democrats were in the minority and could not move any legislation forward, ONLY the Republicans could but they chose not to.....and now you blame those who had no power for the inaction of those who did have the power. Brilliant!

#72 | Posted by danni at 2013-03-05 12:38 PM | Reply | Flag:

"I don't get it. Why are rightwingers so upset to see the Dow Jones Industrial Average hitting record highs?"

THIS rightwinger isn't upset, he likes his gains but he just isn't exhilarated like his little "progressive" pals. I don't understand the exhilaration of my little friends anyway, seeing as how the Dow is part of the capitalistic system they hate so much. My only restraint from celebrating is wondering how long it's going to last with all the tax, borrow, spend, big government policy comin' down. When, oh when, should I dump some of the gainers????

#73 | Posted by jestgettinalong at 2013-03-05 12:41 PM | Reply | Flag:

It is nice the corporations are doing so grand, but once again it shows exactly who obama is supporting, and it isn't main street.

#74 | Posted by moneywar at 2013-03-05 12:49 PM | Reply | Flag:

danni....danni ...danni

nicedeb.wordpress.com

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

#75 | Posted by afkabl2 at 2013-03-05 12:55 PM | Reply | Flag:

Dow at Record High

The Dow is now at a new record high! We came a long way since Republicans were in the White House and the DOW hit 7,949 on the day Bush left office. Lets hope everyone feels the same way and never again will we let the Republicans destroy our economy.

#76 | Posted by truthteller101 at 2013-03-05 12:56 PM | Reply | Flag:

Whenever I get to thinking there might a silver lining out there, the DR is there to bring me my dark cloud.

I created this in your honor, DR grumpy cats!
www.quickmeme.com

#77 | Posted by cbob at 2013-03-05 12:58 PM | Reply | Flag:

"No, I am definitely not wrong. Democrats were in the minority and could not move any legislation forward, ONLY the Republicans could but they chose not to....."

Revising history a little is one thing, danni, but outright lies are another. We're going to have to get Bob Woodward after you like he did Barackus Caesar if you don't straighten up with the truth. Now EVERBODY knows he recommended the sequestration and lied and now we know YOU lied in that post.

"New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003
SIGN IN TO E-MAIL
PRINT
SINGLE-PAGE

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates."

www.nytimes.com

AND...if you don't like to read, there's lots of video evidence as well.

www.youtube.com

#78 | Posted by jestgettinalong at 2013-03-05 12:58 PM | Reply | Flag:

#72 | Posted by danni at 2013-03-05 12:38 PM | Reply |

#78 | Posted by jestgettinalong at 2013-03-05 12:58 PM | Reply

Danni, see the above----I know it's difficult but truth is always tough. Set an example for your children; admit you're wrong and you won't lie again. That way you will be "free at last" and won't have to worry about your children taking the wrong road based on your example.

#79 | Posted by matsop at 2013-03-05 01:06 PM | Reply | Flag:

Matsop, your lack of self awareness if amusing. If Danni is an extremist in one direction, you are equally an extremist in another. You are in no position to call on her to 'admit she is wrong and never lie again'.

#80 | Posted by moder8 at 2013-03-05 01:14 PM | Reply | Flag:

you're wrong"

#72 | Posted by danni at 2013

danni danni danni...

REALLY>...

www.infoplease.com

please check out numbers for the HOUSE...yes two years gop had senate..but DO NOT TELL ME that all those dems in the house couldn't have done SOMETHING...besides praise Franklin Rich..allow both to go UNDER AND allow him to run off with MILLIONS>...

so I can feel you getting upset but the FACTS do not bear out your charge...

#81 | Posted by afkabl2 at 2013-03-05 01:20 PM | Reply | Flag:

you know MAT and JEST...

if leftists like danni would just SOMETIME say...well you know dems didn't do enough and the gop should have done more, then maybe this would have been better ....then we MIGHT come to some sort of consensus...

BUT NO

just like the sequester....GOOD POLITICS TRUMPS GOOD GOVERNMENT with many dems..........

and notice as well...all three of us have links, clips, other data to use in our debate...and the left so many times..just SAYS It and TADA we HAVE to believe them.......

so danni...my friend from the beautiful state to my right...give us something to help us

#82 | Posted by afkabl2 at 2013-03-05 01:31 PM | Reply | Flag:

It really was a shame what the republicans did to our economy. But now the DOW is at new highs. Can't wait to see what Hillary will be able to do for the economy in 2017. Its won't be long now!

#83 | Posted by truthteller101 at 2013-03-05 01:33 PM | Reply | Flag:

Golly,, maybe we need another round of sequestration.

#84 | Posted by sames1 at 2013-03-05 01:42 PM | Reply | Flag:

Basically, it was under Clinton that Fannie and Freddie really began blowing the housing bubble, issuing epic amounts of mortgage-backed debt.
#19 | POSTED BY SAMES1

They didn't get into Sub-Prime until half way through Bush II.

#85 | Posted by Sycophant at 2013-03-05 01:43 PM | Reply | Flag:

we also understand that a correction is bound to happen and then that does the radical left will be screaming about the gop this and the gop that...
babbles the clown

and right now you're screaming about the radical left this and the radical left that.
you're no different, although in the mass of gray matter you call a brain i'm sure you think you are.

ps - can you type a sentence that doesn't contain grammatical errors teacher?

#86 | Posted by cjk85 at 2013-03-05 01:45 PM | Reply | Flag:

"Dow at Record High"

There was a time on this site where this story would be criticized as nothing more than a paper recovery.

#87 | Posted by Hagbard_Celine at 2013-03-05 01:47 PM | Reply | Flag:

Can't wait to see what Hillary will be able to do for the economy in 2017. Its won't be long now!

I can see it now:

Vice President: Nancy Pelosi
Secretary of State: Sheila Jackson Lee
Secretary of Defense: Hank Johnson
Chief Staff Maxine Waters
Secretary of the Treasury: Barney Frank

She can blame everything bad on her staff and hide in Air Force One with a cold.

#88 | Posted by sames1 at 2013-03-05 01:49 PM | Reply | Flag:

Hag, you beat me to it on#87. I remember Danni and other telling everyone how the DOW doesn't matter to regular people.

#89 | Posted by Dalton at 2013-03-05 01:55 PM | Reply | Flag:

"I remember Danni and other telling everyone how the DOW doesn't matter to regular people."

Neither side of this argument should be patting themselves on the back. The song remains the same though the musicians have traded instruments.

#90 | Posted by Hagbard_Celine at 2013-03-05 02:01 PM | Reply | Flag:

You would think news like this would be well received by all Americans.

But it seems like bitter, pessimistic, people would prefer to see America Fail because an opposing political party is in the drivers seat.

Good news, is good news. Be happy.

#91 | Posted by ClownShack at 2013-03-05 02:07 PM | Reply | Flag:

you know MAT and JEST...

#82 | Posted by afkabl2 at 2013-03-05 01:31 PM | Reply |

Afkab12, sometimes your wisdom takes my breath away. Moder8, you should listen to Afkab12 and then realize that Matsop is a modera8 and "fair and balanced".

#92 | Posted by matsop at 2013-03-05 02:10 PM | Reply | Flag:

Afkab12, sometimes your wisdom takes my breath away. Moder8, you should listen to Afkab12 and then realize that Matsop is a modera8 and "fair and balanced".
#92 | POSTED BY MATSOP AT 2013-03-05 02:10 PM | REPLY |

Ummm.... After listening to AFK, anyone would sound "fair and balanced", even you.

#93 | Posted by ClownShack at 2013-03-05 02:22 PM | Reply | Flag:

Matsop, I partially agree with you. Afkabl2's "wisdom" does take my breath away. (Just maybe not in the same way as you.)

#94 | Posted by moder8 at 2013-03-05 02:26 PM | Reply | Flag:

we also understand that a correction is bound to happen and then that does the radical left will be screaming about the gop this and the gop that...
babbles the clown

and right now you're screaming about the radical left this and the radical left that.
you're no different, although in the mass of gray matter you call a brain i'm sure you think you are.

ps - can you type a sentence that doesn't contain grammatical errors teacher?

#86 | Posted by cjk85 at 2013-03-05 01:45 P

what's this? PUNK !

OH I thought this was a discussion about various issues, I know it was a place where you could just rant on and on and get personal without even trying to make a point except to prove that what I read in letters to the editor of USA today I BELIEVE

when your OPPONENT has to resort to correcting grammar the argument is over and YOU HAVE WON....

that looks to be correct.

#95 | Posted by afkabl2 at 2013-03-05 02:31 PM | Reply | Flag:

But it seems like bitter, pessimistic, people would prefer to see America Fail because an opposing political party is in the drivers seat.

Or maybe it's because one party that controls TWO branches of govt is failing in a grand way and we hate to see it happening.

#96 | Posted by boaz at 2013-03-05 02:41 PM | Reply | Flag:

I POSTED a half a dozen post or so here and did not make ONE single personal disparaging or even mildly uncivil attacks on anyone..

I guess I just need to direct comments away from CLOWN or who ever the hell cj is since they are apparently incapable of carrying on a civil conversation..but Im sure in typical liberal fashion,they will be first on the list to have panel discussions on civility in politics.

typical liberal behavior....My mistake was actually expecting more

#97 | Posted by afkabl2 at 2013-03-05 02:56 PM | Reply | Flag:

#97 | POSTED BY AFKABL2 AT 2013-03-05 02:56 PM | REPLY | FLAG:

Oh Jeez, You can stop pretending to be a victim. It was a joke.

#98 | Posted by ClownShack at 2013-03-05 03:16 PM | Reply | Flag:

Or maybe it's because one party that controls TWO branches of govt is failing in a grand way and we hate to see it happening.

Please point out said failures. Because when the DOW was down, it was the Dem's fault. Now that the DOW is up, Dem's still get railed by the likes of you. What'll it take to convince you that the Dem's will NOT destroy the country? It sounds as though you set the bar pretty high, so I was hoping for some clarification.

Thanks in advance.

#99 | Posted by rstybeach11 at 2013-03-05 03:38 PM | Reply | Flag:

I POSTED a half a dozen post or so here and did not make ONE single personal disparaging or even mildly uncivil attacks on anyone..

"#86 | Posted by cjk85 at 2013-03-05 01:45 P"

what's this? PUNK !

#95 | POSTED BY AFKABL2

Short term memory problems? I'm just sayin' ☺

#100 | Posted by rstybeach11 at 2013-03-05 03:42 PM | Reply | Flag:

But it seems like bitter, pessimistic, people would prefer to see America Fail because an opposing political party is in the drivers seat.

Or maybe it's because one party that controls TWO branches of govt is failing in a grand way and we hate to see it happening.
#96 | POSTED BY BOAZ AT 2013-03-05 02:41 PM | REPLY |

Perfect retort Boaz, You are exactly the type of person I was talking about. What your comment has to do with the Dow being up is beyond me. Your comment serves only as an attack on the "opposing political party."

#101 | Posted by ClownShack at 2013-03-05 03:44 PM | Reply | Flag:

"Or maybe it's because one party that controls TWO branches of govt is failing in a grand way and we hate to see it happening."

Which party would that be Boaz? Democrats don't control two branches and neither do Republicans.

#102 | Posted by danni at 2013-03-05 03:51 PM | Reply | Flag:

RE: #99 | Posted by rstybeach11 at 2013-03-05 03:38 PM

One thing that is certain: if Gov. Romney had been elected president, the Republicans would be taking credit for today's event.

#103 | Posted by TrueBlue at 2013-03-05 04:05 PM | Reply | Flag:

If bad growth and employment numbers are still Bush's fault, are record highs at the DJIA still Bush's accomplishment?

#104 | Posted by JOE at 2013-03-05 04:05 PM | Reply | Flag:

It's only Miller Time when is see the Nasdog approach the once reached magical 5000.

Crisis

#105 | Posted by CrisisStills at 2013-03-05 04:06 PM | Reply | Flag:

Boaz must believe the three branches of the government are the executive branch, the senate branch and the house of representatives branch.

he must have forgotten that the senate and the House are considered congress and qualify as the legislative branch.

and then the branch he forgot all about is the judicial branch.

#106 | Posted by ClownShack at 2013-03-05 04:07 PM | Reply | Flag:

If bad growth and employment numbers are still Bush's fault, are record highs at the DJIA still Bush's accomplishment?

Not in their eyes ever. Bush = Bad Carter, Clinton, Obama, = Good (SDS)

#107 | Posted by sames1 at 2013-03-05 04:57 PM | Reply | Flag:

One thing that is certain: if Gov. Romney had been elected president, the Republicans would be taking credit for today's event.

It would have happened sooner.

#108 | Posted by sames1 at 2013-03-05 05:40 PM | Reply | Flag:

One thing that is certain: if Gov. Romney had been elected president, the Republicans would be taking credit for today's event.

It would have happened sooner.
#108 | POSTED BY SAMES1 AT 2013-03-05 05:40 PM | REPLY | FLAG

It wouldn't have happened at all.

Romeny would of sunk this nation and sold it off to China by now.

#109 | Posted by ClownShack at 2013-03-05 05:49 PM | Reply | Flag:

"Romeny would of sunk this nation and sold it off to China by now."

come on now.....it's not necessary to follow one poor prediction with another.

#110 | Posted by eberly at 2013-03-05 05:53 PM | Reply | Flag:

#65 | Posted by danni

What junk. Your messiah has just announced no charges for BAC. What your party pretends to support, is a lie. The hedgies you belittle? Well admit it those are only R backed hedges George Soros you love, same with warren buffet backed hedgies. And anyone behind GS and MS.

The left's idea are mostly lies. They can't back up what they preach with action. Crony capitalists to the core!!!

#111 | Posted by DavetheWave at 2013-03-05 05:57 PM | Reply | Flag:

" 'One thing that is certain: if Gov. Romney had been elected president, the Republicans would be taking credit for today's event.'

It would have happened sooner.
#108 | Posted by sames1 at 2013-03-05 05:40 PM"

The election was only four months ago.
Just how much sooner would it have happened?

#112 | Posted by TrueBlue at 2013-03-05 06:25 PM | Reply | Flag:

if Gov. Romney had been elected president, the Republicans would be taking credit for today's event.

#103 | Posted by TrueBlue

That is true

#113 | Posted by DavetheWave at 2013-03-05 06:31 PM | Reply | Flag:

Must be the death knoll of the sequester!

#114 | Posted by DavetheWave at 2013-03-05 06:34 PM | Reply | Flag:

Exactly rsty!
I'll lay it out for babbles:
Babbles I was pointing out that you are doing the exact thing you claim the radical left is doing or going to do.
Also babbles I didn't correct spelling or grammar, I simply asked if you can put together a sentence without grammar or spelling errors. Good job you did!

#115 | Posted by cjk85 at 2013-03-05 07:22 PM | Reply | Flag:

Democrats don't control two branches and neither do Republicans.

#102 | Posted by danni at 2013-03-05 03:51

uh...what??

#116 | Posted by afkabl2 at 2013-03-05 09:43 PM | Reply | Flag:

I really don't care for a response from either of you. I simply don't care.

#117 | Posted by afkabl2 at 2013-03-05 09:44 PM | Reply | Flag:

- In my humble opinion -

As many Billionaires are dumping their stocks.. the stage is being set for severe hyper-inflation that the USA has never endured.

stockpile food and water - minimize fuel usage - learn how to survive like you're stuck in a perpetual snow blizzard. Time to stabilize the economy will be 3Q 2017 - but even then - the cost of goods (on everything) will not decline slightly for at least 15-20 years.

This is what happens when you print money over and over and over - it eventually self-devalues once it hits the stock market. I'm thinking this is perhaps some of the reasons why the DHS procured billions of rounds of ammunition, thousands of weapons, assault vehicles, etc.

Time to purchase "personal defense weapons" to protect your family from the food stamp mobs - AKA Obamanites.

#118 | Posted by SamSpade at 2013-03-05 09:46 PM | Reply | Flag:

Don't forget firewood. He'll be cutting off your natural gas if you voted for Nixon.

#119 | Posted by wisgod at 2013-03-05 09:52 PM | Reply | Flag:

Democrats don't control two branches and neither do Republicans.
#102 | Posted by danni at 2013-03-05 03:51

uh...what??
#116 | POSTED BY AFKABL2 AT 2013-03-05 09:43 PM | REPLY | FLAG

the three branches of the government.

Executive - Democrat control.

Legislative - Split. (house - republican, Senate - democrat)

Judicial - Split.

You're welcome AFK.

#120 | Posted by ClownShack at 2013-03-05 10:01 PM | Reply | Flag:

History shows this!

When Bill Clinton took office Jan 20th 1992 the DOW was 3,224
When Bill Clinton left office Jan 20th 2000 the DOW was 10,940

For a 7.716 Gain

When Obama took office Jan 20th 2009 the DOW was 7,949
as of today the Dow is 14,254

For a gain of 6,305 to date

So why the hell would anyone vote for a Republican?

#121 | Posted by truthteller101 at 2013-03-05 10:16 PM | Reply | Flag:

"So why the hell would anyone vote for a Republican?"

Good question. Perhaps it has something to do with the growth of inequality in income, some folks like the fact that the top 1% has increased their share to 125% of what the bottom 40% take in. Greed is still good? Personally, I'm sort of sick of hearing that. It is a hateful, disgusting belief. If you believe it see your psychiatrist because you are probably psychotic and need strong meds.

#122 | Posted by danni at 2013-03-05 10:22 PM | Reply | Flag:

clown...please save that for the kindergarten liberals...

the legislative branch is controlled by the democrat senate when they can bury one bill after another from the people's house.......

and I was omitting the supreme court because of the ruling on obamacare..that was enough to remove them from the discussion...

but I was referring to the house, senate and white house..

#123 | Posted by afkabl2 at 2013-03-05 10:54 PM | Reply | Flag:

The DOW hitting highs has little to do with the health of the economy:

business.time.com

Stocks have been particularly buoyant because they're floating on an ocean of liquidity, courtesy of the Federal Reserve. The Fed has been buying up trillions of dollars of bonds to stimulate the economy. That has driven down yields and interest rates. "Back in 2007, bond yields were 5% on a 10-year [government] bond," Kaufman says. "Today, we're at 1.9%." As a result, many investors who are looking for better returns have given up on bonds and piled into the equities market, since many are still soured on real estate as an investment vehicle.

#124 | Posted by sames1 at 2013-03-06 09:16 AM | Reply | Flag:

This current stock high is artificial due to the Feds actions, it should crash nicely.

BTW - should most of the DR's regulars be mad that stock prices are at an all-time high? The rich will benefit the most, isn't that a bad thing? I mean, come on, poor people don't own stocks, right?

#125 | Posted by danv at 2013-03-06 11:26 AM | Reply | Flag:

...you can't be that simple..can you?

...but then again, I have ceased to be amazed by the obtuseness of our resident wingnuts...

...feigned or sincere...

...LOL...

#126 | Posted by 1EyedMan at 2013-03-06 05:21 PM | Reply | Flag:

In the 65 years since 1947 productivity growth has averaged 2.2 percent annually. When productivity rises through time it means that workers are producing more value in less time. If workers get their share of the gains of productivity growth then they will be getting richer through time.

These gains should have a dramatic effect on living standards over time. Suppose that we continued to see productivity grow at a 2.3% annual rate over the next quarter century, the same pace that we have seen over the last 15 years. If workers got their share of this growth, wages would be on average more than 75% higher than they are today. Just to be clear, this adjusts for any inflation over this period; in 2038 a typical worker would be able to buy 75% more goods and services than a typical worker today.

The wages of most workers have barely risen since 1980 because the vast majority of the gains from growth have gone to those at the top of the income distribution. At this point everyone should be screaming that workers have not been seeing the gains of productivity growth in the last three decades.

This is why the yapping about the burden of Social Security and Medicare is so pernicious. If workers share in the gains of economic growth then there is no way that the cost of these programs will impose a serious burden on their living standards. In the past, workers' living standards rose rapidly in spite of large increases in the payroll taxes used to support these programs. But today, ALL productivity gains are passed on to the 1%.

#127 | Posted by nutcase at 2013-03-06 05:22 PM | Reply | Flag:

BINGO - Give nutcase a cupie doll!!

This is a manufactured crisis with a specific intent...

..and that intent does not end with happily retired middle class Americans...

...LOL...

#128 | Posted by 1EyedMan at 2013-03-06 05:26 PM | Reply | Flag: