Originally Posted By Mr X BUY, BUY, BUY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Originally Posted By mawnck Pop quiz: If your US stocks go up 1%, but the US dollar drops 2%, have you made money or lost money?
Originally Posted By Mr X $1 = ¥89.24 to the minute... bad news for any folks hoping to visit Tokyo Disneyland anytime soon.
Originally Posted By fkurucz All bow before the Plunge Protection Team and their nearly infinite source of liquidity to prop up the stock market.
Originally Posted By fkurucz I guess the rallying stock market is supposed to give Joe & Jane 6 Pack warm fuzzies and give them the confidence to go out and SHOP! Of course that's unlikely when the bank has cut your credit card line, jacked up the interest rate to 20+% and you're un or under employed. It also doesn't help when you have friends and neighbors who have been unemployed for almost a year and you keep hearing about more layoffs coming where you work.
Originally Posted By EdisYoda <bitterness on> Just another example of corporate (and shareholder) greed <bitterness off>
Originally Posted By Sport Goofy Great! We're back to where we were in March 1999! Over ten years of complete stagnation in the DJIA.
Originally Posted By RoadTrip You just can't make some folks happy. You all (except Mr X) seem to forget that the stock market is a LEADING economic indicator and employment is a TRAILING economic indicator. The jobs will catch up with the market... it will just take a little time.
Originally Posted By Sport Goofy << You all (except Mr X) seem to forget that the stock market is a LEADING economic indicator and employment is a TRAILING economic indicator. The jobs will catch up with the market... it will just take a little time. >> In most recessions, housing is usually a lagging indicator as well -- yet it led this decline. I wouldn't bet a whole lot on the notion that past trends foretell future results. The fundamental problems that led us to this point in economic history have not been fixed and will take much longer to correct than a couple of years.
Originally Posted By andyll <<Great! We're back to where we were in March 1999! Over ten years of complete stagnation in the DJIA.>> There were lots of ups and downs. If a significant amount of your income was in stock options you did pretty well in the market in those 8 years
Originally Posted By hopemax If the earnings reports showed some consistency with increased revenue and sales numbers it would be one thing. But earning reports are still showing that much of the gains are coming through cost cutting measures, ie layoffs, salary reductions, eliminating benefits, passing on health care costs. Those things are going keep the consumer from consuming. Today's "good" news, that propelled the market up, was Intel's earning report...revenues only fell 8% compared to previous quarterly losses of 15 and 26%. I'll keep my half empty glass.
Originally Posted By Mr X "Obama's Radicalism Is Killing the Dow" Wall Street Journal, March 6 2009. <a href="http://online.wsj.com/article/SB123629969453946717.html" target="_blank">http://online.wsj.com/article/...717.html</a>
Originally Posted By SuperDry <<< BUY, BUY, BUY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! >>> Kind of like the advice on the AM radio and Fox News: Now that gold has broken through $1000/oz, it's a great time to buy!
Originally Posted By andyll Hopemax... Intel is a bad example for your assertion. While Intel is not matching record revenue highs of 2008 they are seeing record revenue growth QoQ. (18% 3Q after a 12% revenue growth QoQ in the 2Q) Intel's layoffs were mainly related to closures of old planets overseas that would have closed eventually. They have a new plant opening in Vietnam at the end of this year. Q4 revenue is expected to be over 10B which means intels sales will be near their all time highs. What's interesting is that much of their revenue growth was in chip sales without a corresponding growth in PC sales. That means that someone is confident that PC sales will be picking up next quarter. JP Morgan and Goldman Sachs have record revenue this quarter. Google will have revenue beating 2008. So at least the companies reporting 3rd numbers now are showing true growth. Eventually they will have to start hiring again to keep growing... hopefully in the US and not overseas.
Originally Posted By Hans Reinhardt While this is great news for those of us trying to recoup some of the losses to our retirement accounts, I find it curious that the Dow continues to climb while unemployment continues to decline. Or is the job market on the verge of a rebound too?
Originally Posted By fkurucz <<Correct me if I'm wrong, but you just got a job, right?>> Yes, much to the envy of many long term unemployed friends.
Originally Posted By fkurucz <<They have a new plant opening in Vietnam at the end of this year.>> That will be a big consolation for displaced tech workers in the US. I don't put much stock in the talking head and spin doctors. First they told us that there was no recession. Then they told us that the housing market's problems were "contained". Then earlier this year they yammered about "green shoots" which did not materialize. The recovery is now always going to be "just around the corner." They will be saying the same thing late next year, and when asked why its taking so long we will hear that often used refrain "No one saw this coming!" The painful truth now is that Wall St. and the stock market are completely decoupled from Main St. In fact, I would dare say that Main St. is basically considered irrelevant. As long as Corporate America can keep profits up via mass layoffs, then the market will rally. It won't matter if unemployment keeps rising, if consumers are spending less, or if foreclosures continue to rise. The stock market will continue to rally until it is no longer possible to protect profits by cutting wages and laying workers off.
Originally Posted By fkurucz ^^Remember, they were telling us last year that by this time everything would be hunky dory. Now they're saying it will be next year, Lather, rinse repeat.
