The Dow hit a new record high today, topping 14,264. The previous record was 14,198.10, set in October 2007, when investors were squarely focused on the Federal Reserve. The Fed had cut rates for the first time in four years and was worried the housing implosion would hit consumers and the broader economy.
Today, the Feds actions have juiced stocks and helped boost the economy, but the recovery after the 2008 financial crisis remains slow-going.
Investors appear to have shrugged off the fight over $85 billion in forced government spending cuts. The Obama administration has started making the cuts and some federal workers are getting furlough notices.
(AP)
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5 Responses
If you adjust for inflation over the last six years, it is still down by more than 1000 points. One should also note that the high prices are probably a bubble based on the Federal Reserve (and other central banks) printing humongous amounts of money.
The other thing to consider is “who is buying” because informed voters know that the Obama regime has been buying at least 50 million dollars worth of stock per month. That 50 MILLION can go a long way to manipulating numbers especially when you buy the stocks on the DJIA.
No. 2: Could you cite a source for your allegation that the Obama “regime” has been buying stock at the rate of $50 million per month?
3. It would be typical of you, an OblamO apologist to question what has been happening for 3 or 4 years.
What do you place in front of your Obama idol as offerings while you chant “yes we can” obama?”
I would be very skeptical of Obama or anyone close to him buying stock. Whatever he is, he isn’t dumb, and he would have to be in order to buy stock in a rising market.
The Federal Reserve, which is probably the only administrative agency that is also a Delaware Corporation, and is not under Obama’s control, has been pumping money into the economy (by buying bonds with newly printed money), but that is well publicized but indirect manipulation.