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Here's my response to the RW crowing about a new record for the Dow

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Richardo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:10 AM
Original message
Here's my response to the RW crowing about a new record for the Dow
Edited on Thu Sep-28-06 07:11 AM by Richardo
"It's about time."

The RW world is gleefully anticipating a record close for the DJIA any day now. They'll spin it as vindication of Bush's brilliant tax cuts (weren't those like 3-5 years ago?)

My response will include the three words above and a follow up: "Didn't we have a new record for the Dow about every week in the 90s? Or was it every day there for awhile?"

Really, we've got to take this 'victory' away from them.

Here's a cool table. Use it to confound your RW adversaries.
http://www.finfacts.com/Private/curency/djones.htm

The last threshold broken was 11,700 on 1/14/2000. I forget, who was President then?


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BikeWriter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:15 AM
Response to Original message
1. Whoa, look how many were under Bill!
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Richardo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:16 AM
Response to Reply #1
2. I'll look for that in graphic form...
...it'll look GREAT.
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terrya Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:21 AM
Response to Original message
3. Maybe it's just me, but...
I really don't believe how the stock market performs is a true indicator of the vitality of the economy.

To me, it's jobs. Are there plenty of quality (and I'm sorry, but I don't count those fast food jobs or the $7/hr jobs at Wal-Mart) jobs being created?

I see an economy where the disparity between the haves and have nots has grown even larger in the past 5 years. Of course, that's what happens when you give $2 trillion in tax cuts for the wealthiest 2%.

So, for the richest 2%, the ecomony is just hunky dory.
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:26 AM
Response to Reply #3
4. That used to be the RW talking point-"The market isn't the economy!!!!"
Oh but I guess it is now.

Now let's see...gas prices have fallen through the floor..... the DOW hits an all time high....hmmmmm wonder if there is any connection there...any connection to anything else going on at this time of year.... hmmmmmmmmmmmmmm
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billyskank Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:26 AM
Response to Original message
5. Woah!
On "Black Monday," 19th October 1987, the Dow fell nearly 23 percent!
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One_Life_To_Give Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-28-06 07:39 AM
Response to Original message
6. DOW is still artificially inflated 1000pts
If all things were equal the DOW is effectivly 10,600. The whole "Tax Cut" was to get the uber wealthy to realocate their protfolios moving monies from more speculative investments to the Blue Chip ladden Dow. IMHO
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