BS: Stock Market returns to Pre 9/11 levels

Subject: BS: Stock Market returns to Pre 9/11 levels
From: GUEST,Lefty
Date: 09 Jan 06 - 08:55 PM

The Dow Jones industrial average closed above 11,000 Monday for the first time since before 9/11.

We have to do something quick before George Bush gets credit for it.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Little Hawk
Date: 09 Jan 06 - 08:58 PM

No problem. It is my dog that made it happen. Bush had nothing to do with it, I can assure you. He's probably as surprised as the rest of us, and still trying to take it in. Good news can be a hard thing to handle.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Big Al Whittle
Date: 09 Jan 06 - 09:00 PM

is it as good as when Clinton was in charge?

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Alba
Date: 09 Jan 06 - 09:33 PM

That will be great for all those People that lost their 401K funds when it hit rock bottom eh! I am sure they are just delighted...not!
Now if we could just get the budget deficit back to where it wasn't when Clinton was in...:>)

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Little Hawk
Date: 09 Jan 06 - 09:34 PM

If I was GW, I'd just be scrambling for a way to take credit for the stock market upturn. You betcha.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Peace
Date: 09 Jan 06 - 09:38 PM

Contending that "everything that Clinton said in that statement is dead wrong," Morris claimed that, under Bush, federal budget deficits are "half, as a percentage of our economy, of what they were under his [Clinton's] administration." In fact, according to the Congressional Budget Office, the average federal budget deficit from 1993 to 2000 was 0.74 percent of gross domestic product (GDP); from 2001 to 2004, the average was 1.78 percent of GDP. Moreover, Morris ignored that under Clinton, deficits steadily declined from 1992 to 1997, and the budget ran surpluses in 1998, 1999, and 2000. Under Bush, a surplus in 2001 became deficits in following years.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Ron Davies
Date: 09 Jan 06 - 09:52 PM

This is certainly interesting--since in fact a lot of the most widely held stocks (GM, GE, MSFT etc.) are not even remotely close to where they were pre 11 Sept 2001. And it's the Dow Jones which has reached 11,000--full of these hugely capitalized stocks.

So for the vast majority of stockholders it will not be impressive--most pension funds, mutual funds etc. will not be even close to recovering their position pre Sept 2001.

I'm sure the Journal will talk about it tomorrow.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: jimmyt
Date: 09 Jan 06 - 09:58 PM

It is no more related to George Buh this time than it was to Bill CLinton the last time. I think we give our president too much credit for power that he doesn't have, ie the market. It is a much bigger thing than a president.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Ron Davies
Date: 09 Jan 06 - 09:58 PM

And consider the NASDAQ--which from a height of about 5000 is now at about 2200. Anybody who rode it all the way up and all the way down is no doubt painfully aware that they have not by any stretch come even close to recovering those losses.   And people always tend to judge their losses from the peak, no matter how unrealistic it is that they would have in fact managed to time the market so perfectly as to sell out at the peak.

The upshot of all this is that Bush will be able to make very little hay with 11,000 DJIA--with regular investors or people who have concerns about mutual funds or pension funds.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: GUEST,g
Date: 09 Jan 06 - 10:12 PM

Depends on the investment strategy of the 401 K fund. I have one that is worth more now than 5 years ago. Nobody should have "lost" their 401s if they rode this out. GWB can take a little credit - we were into a recession when he first took office and the DOW low was mid 2001. Can you say tax decrease, more $ to invest and spend?

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Amos
Date: 09 Jan 06 - 10:20 PM

Well, optimism is the biggest upward driver of the stock market, but the people whose optimism counts in the Dow Jones average get turned on by really kinky things. Good news scares them away sometimes, because it will increase employee demands or some such damn fool thing, and bad news sometimes attracts them because it is an opportunity for certain industries. On the whole it is a rat's nest of ricocheting opinions with little alignment to any real territory at all.

A

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Amos
Date: 09 Jan 06 - 11:03 PM

From http://www.morganstanley.com/GEFdata/digests/20060109-mon.html

"America's once mighty job machine is struggling as never before.   
The combination of subpar job creation and real wage stagnation
puts extraordinary pressure on the income-generating capacity of
the world's most aggressive consumer. Of course, you'd never know
that from the spin that followed the release of the latest monthly
labor market surveys of the US Bureau of Labor Statistics. From
Washington to Wall Street, the verdict was nearly unanimous -- all
is fine on the US labor market front. Nothing could be further
from the truth...."


A

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Ron Davies
Date: 21 Jan 06 - 10:29 AM

Well, well--look how long that market recovery lasted--the market is under pressure from a lot of factors--especially the price of oil, which is of course influenced by events regarding Iran.

Added to which, Guest G--if you have a fund that has returned to levels 5 years ago--that tells us very little. That would be sometime in 2001-big difference between the beginning and end of that year.

And the Dow low was not "mid-2001", but--obviously--after 11 September 2001.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: John MacKenzie
Date: 21 Jan 06 - 11:10 AM

Enjoy it while you can because it's going to drop big time very soon.
Giok

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Amos
Date: 21 Jan 06 - 11:12 AM

Giok:

Interesting if terse. Why do you think so?


A

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: John MacKenzie
Date: 21 Jan 06 - 12:50 PM

Iran, Nigeria, US borrowings to finance outwith mainland US adventures!
G.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Ron Davies
Date: 21 Jan 06 - 02:10 PM

I don't think a huge drop is likely soon--it's already below 11,000 DJIA again now-- but those who are looking for a new record in the DJIA are living in a fool's paradise. As I noted, as long as there's friction with Iran and instability in the Mideast, oil won't come down to 40 again--and a high oil price will block further rises in "the market".

As I said earlier--Bush has little to brag about--even to big investors.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: GUEST
Date: 22 Jan 06 - 12:28 PM

Hooray. Bush is fucked again. I love it.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: Once Famous
Date: 22 Jan 06 - 12:38 PM

Unemployment is at a low level, also.

The poeple who wish here for worse because of who the president is are enemies of this country. Pretty shameful.

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: John MacKenzie
Date: 22 Jan 06 - 01:45 PM

Perhaps they wish the worst will happen not because of the person who did it, but because what he did was dumb.
Giok

Subject: RE: BS: Stock Market returns to Pre 9/11 levels
From: GUEST
Date: 22 Jan 06 - 05:15 PM

Just because you do not like the behaviour, doesn't mean you don't like the person.