Published on January 10, 2006 By Island Dog In Politics
It's Bush's fault. Worst economy since Hoover.


NEW YORK - The Dow Jones industrial average crossed 11,000 Monday for the first time since before the 9/11 terrorist attacks, buoyed by a New Year's rally that has sent stock prices soaring.

Wall Street's best known stock indicator rose to 11,001.26 shortly after 1 p.m. EST, the first time since June 13, 2001, that the index of 30 blue chip stocks traded above that milestone. It last closed above 11,000 on June 7, 2001, when it stood at 11,090.74.

Comments (Page 1)
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on Jan 10, 2006
Cool. Glad I inspired a blog for you.

Talk about embarrassing yourself.
on Jan 10, 2006
C.O.L. blowhard of course couldn't bother to tell us how this is a figment of the imagination...
on Jan 10, 2006
Ah, yes, with the world population going up, the market will be bigger and bigger and trading numbers will tend to follow population growth.

Bull v. Bear? Hardly.

Any Econ. majors around?
on Jan 10, 2006
Talk about embarrassing yourself.


?
on Jan 10, 2006
I was referring to my blog that I said economy was 'falling like a rock' when it clearly is not.
on Jan 10, 2006
Ah, yes, with the world population going up, the market will be bigger and bigger and trading numbers will tend to follow population growth.


So why didn't it fall with the population when the babyboomers passed their prime and the Gen Xers came of age? ((((Which, btw would have been during the 90s... hmmmm)))

That is not to say that you are completely wrong, population does have its effect on the stock market. But "world" population has very little effect. The only population that does effect the stock market is the part of the "world" population that chooses to invest in the stock market. So, while more people in the world does increase the number of potential investors, only those who actually invest play a siginificant enough roll to effect the Dow Jones.

Once again, what should be considered great news falls victim to pessimistic negativism.

I, for one, relish such news about investments in our great nation and healthy economy!!!
on Jan 11, 2006
Interesting that if the Dow falls 5 points the liberals are screaming about how bad the economy is. No wonder they don't have any comments about this.
on Jan 11, 2006
RUSH: Yesterday, the Dow Jones Industrial Average crossed the barrier 11,000. The media has a way of describing this. We have put together a montage: Fox News Channel, ABC News, CBS News, CBS This Morning, CBS, NBC. Note here, there's a single word that all of these anchors and info babes and reporters used to describe the Dow breaking 11,000.

CHRIS WALLACE: We certainly understand it to be an important psychological mark.

REBECCA GOMEZ: It's a psychological milestone.

MELLODY HOBSON: There's nothing magical about 11,000. It's more psychological.

BOB SCHIEFFER: Wall Street reached a psychological milestone today.

HANNAH STORM: Big psychological barrier.

LIZ SONDERS: It's certainly more a psychological milestone.

KATIE COURIC: The Dow is opening today above a very important psychological milestone, the 11,000 mark. Is it time now for you to put more money in stocks?

RUSH: It's a psychological mark? It's a psychological milestone? When we get, what, 1,000 and then 2,000 soldiers deaths in Iraq, those are real, those are grim. Those aren't milestones, those are real, and there's nothing psychological about them, but here's the Dow at 11,000 for the first time since 9/11, and it's psychological. All this is an attempt to downplay the success of the economy. It's laughable. It's the same word. Somebody sends the fax out from somewhere to the media, and they all repeat it. You didn't have to watch one network to hear that report. You could have watched any one of them. It didn't matter which one you chose. They were all reporting it the same way. "A psychological barrier has been broken. The psychological barrier has been reached. It's nothing but a psychological barrier. Should we put more money in stocks?" Katie, why don't you tell people what you do with your multiple millions. You sit there and act like you're getting to work here in a Toyota Prius. Why don't you tell people what you do with your millions. "Well, I'm a journalist. What I do is irrelevant." I know.
on Jan 11, 2006
Interesting that if the Dow falls 5 points the liberals are screaming about how bad the economy is. No wonder they don't have any comments about this.


Pretty much shows how reactionary we (as a society) have become.
on Jan 11, 2006

Any Econ. majors around?

Yes, do you have a question?

on Jan 11, 2006
So why didn't it fall with the population when the babyboomers passed their prime and the Gen Xers came of age? ((((Which, btw would have been during the 90s... hmmmm)))

The nations population has continued to grow despite the age of the boomers. This has been attributed to immigration.

My point in bringing this up is that looking at the stock market is not an end-all, be-all indicator, nor even a reliable one of a nation's economy. It is particularly incorrect for anyone to use it as an indicator of the success or unsuccess of all Executive policy matters.
on Jan 11, 2006

My point in bringing this up is that looking at the stock market is not an end-all, be-all indicator, nor even a reliable one of a nation's economy. It is particularly incorrect for anyone to use it as an indicator of the success or unsuccess of all Executive policy matters.

And you would be correct.  However, my IRAs and 401ks are greatly affected by the NASDAQ and Dow, so I feel better when they are doing well!  As are a majority of workers since most retirement plans are now invested in the Stock Market.

on Jan 11, 2006
The nations population has continued to grow despite the age of the boomers. This has been attributed to immigration.

My point in bringing this up is that looking at the stock market is not an end-all, be-all indicator, nor even a reliable one of a nation's economy. It is particularly incorrect for anyone to use it as an indicator of the success or unsuccess of all Executive policy matters.


True, it is only 1 indicator... but it is AN indicator. Actually, when you get right down to it, other than tax policy the president has very little to do with the economy. Just 1 more instance where the president gets blame/praise for something that his office doesn't have much to do with. ;~D

But this is one more bullet in the guy of idiots who echo the "worst economy in 50 years" lie. ;~D
on Jan 11, 2006
Remember the book Dow 36000? Looks like we're back on the path.

However, my IRAs and 401ks are greatly affected by the NASDAQ and Dow, so I feel better when they are doing well!

As are mine, because they are index funds linked to the overall market. YAY DOW!
on Jan 11, 2006

As are mine, because they are index funds linked to the overall market. YAY DOW!

I am heavy into Techs, so I follow the NASDAQ closer.  YEA NASDAQ!!!!!

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