Forum Post: Dow Hits Record, Real Economy Crashes
Posted 11 years ago on March 6, 2013, 10:02 p.m. EST by arturo
(3169)
from Shanghai, Shanghai
This content is user submitted and not an official statement
Compare today's record high on the DOW to the stats on the day of the last record high in October 2007 (from The Burning Platform blog):
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: Then $97 billion; Now $975.6 billion
Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
Gold: Then $748; Now $1,583
To add another piece of reality, on the same day Wall Street announced record highs, they were joined by the Coalition for the Homeless in New York City, who announced another record high — in January, an unprecedented 21,000 children, 1% of the city's youth, slept each night in a homeless shelter, a 22% increase over last year. "New York is facing a homeless crisis worse than any time since the Great Depression," says President of the Coalition for the Homeless, Mary Brosnahan.
when will the bubble pop.... again
Meanwhile fraud still runs wild. Scams still taking place. Stagnant wages. Minimizing job opportunities. Inflation still going up. Poor getting poorer. Rich getting richer. Etc...
[Deleted]
Are you going to be making money on it?
[Removed]
"Greenspan: Ignore The Economy, "Only The Stock Market Matters"" http://www.zerohedge.com/news/2013-02-15/greenspan-ignore-economy-only-stock-market-matters
The bankster parasites couldn't care less about the real economy.
Your statistics make it clear that we still have a long way to go before the entire economy is back on it's feet. Thanks.
Here's a fact many people don't realize, that even though the DJIA is back up to over 14,000, it needs to be $15,731.50 to be equal to it's value in 2007. The Dow does not measure the health of the economy.
http://www.usinflationcalculator.com/
I imagine that the Dow is inversely proportional to the health of the economy. It probably measures a compound of figures such as the rate of asset stripping and the exploitation of labor.
There was a report on CNN that people are investing in the stock market instead of bonds or CD's because returns are higher investing in the stock market.
There are millions of people out there who have 401K's and they are the ones investing -
Some stocks have gone up well over 300% in one year - look at google - its initial IPO was 80.00 now it is over 800.00 not a bad investment for someone with a 401k to invest in.
If only we the people had money to invest.
http://washington.cbslocal.com/2012/11/30/study-american-households-hit-43-year-low-in-net-worth/
http://www.democraticunderground.com/1002798630
I've heard that it is bound to crash and will go down to next to nothing. What do you think? Are people being suckered into it with the high returns?