I love how the media states that today's high mark erases the losses.
Nothing could be further from the truth. It might be that the Dow
has surpassed it's past high water mark but stating this has erased
anything is a bold faced lie.Has anyone experienced being restored
100% of their losses in this great gov't fiasco of a financial crisis?(crickets)
Sammyg - if you didn't sell any stock, you didn't loose any money.
Hopefully people with a plan held to their holdings, kept their holds, kept
adding to them at discount rates, and are far on top tight now.If
you were selling off assets to support your needs, well then yes, you may have
been hurt. But that points to a series of other issues.I had
nothing to be restored. The only time equities prices impact me is when I buy
them, and sell them. What the do in between doesn't impact my lifestyle
one bit. Same with home values.
"Has anyone experienced being restored 100% of their losses in this great
gov't fiasco of a financial crisis?"I'm not even sure
what this means, but I can tell you that my retirement has doubled over the last
few years, and I'm well ahead of where I was 8 years ago. Maybe instead of
saying things are a lie, you could explain your post so we know what you
Why is the market booming yet the economy not?"First,
productivity gains. Corporations have been investing in technology rather than
their workers. They get tax credits and deductions for such investments; they
get no such tax benefits for improving the skills of their employees. As a
result, corporations can now do more with fewer people on their payrolls. That
means higher profits.Second, high unemployment itself. Joblessness
all but eliminates the bargaining power of most workers -- allowing corporations
to keep wages low. Public policies that might otherwise reduce unemployment -- a
new WPA or CCC to hire the long-term unemployed, major investments in the
nation's crumbling infrastructure -- have been rejected in favor of
austerity economics. This also means higher profits, at least in the short
run.Third, globalization. Big American-based corporations have been
expanding and hiring around the globe where markets are growing fastest.Finally, the Fed's easy-money policies. They've pushed
investors into the stock market because bond yields are so low."(Robert Reich)
Obama is sure to go down in history as the worst Socialist EVER.
Perhaps the losses in stock values were recovered, but the losses of all the
people across the nation who lost their homes, their retirement savings, and
their jobs due to the great bank robbery of 2008 may never be recovered.
Thanks, all you conservatives who oppose bank regulations and worship rich,