Today the stock market briefly went over 13,000. While I am very thankful that the economy seems to be - ever so slowly - recovering from the massive crash of 2008, I think this level of stock activity is unrealistic and sign that the economy is still very much broken. Especially when your Basic Average Dude is still struggling to get my finances in the black. I also think the stock market will be poised for another crash if this fake level continues. I first wrote about it here in 2009:
http://denbec.blogspot.com/2009/10/over-priced-again.html
"Ever so slowly" is actually a better sign of real recovery in my opinion.
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6 comments:
I wasn't thrilled to hear that the Dow hit 13000 again either. And for the same reason you mentioned.
Lisa
Lisa - looks like we are not the only ones that are uncomfortable with this:
http://www.usatoday.com/money/perfi/stocks/story/2012-02-26/stock-market-bears-doomsayers/53259742/1
I have heard these things and was happily following along with the article until the end when I read this:
"Celente's advice centers on survival. He says buy gold so you don't lose purchasing power when the value of the dollar plummets. He says buy a gun to protect your family against desperate people in search of food and money. He says plan a getaway to places with more stable finances and governments."
If that isn't typical fear mongering, I don't know what is. Buy gold, guns and food or move to another country? BWahaaahaaa. That IS GLENN BECK's montra. Fear your fellow citizens and lock the doors!!!! Obama is coming for your guns. Obama is a socialist! Obama is Hitler! *Hysterical laughing*
We're also the only country in the world with people that think that Fox is NEWS.
Although I believe that things are a bit off with these sky high Dow numbers, I think one needs to realize that we don't know the future. But as usual, I'm an optimist. It's a scary world when you listen to that crap.
Lisa
Totally agree!
Hold On! Here we go!
The Dow closed above 13,000 for the first time since May 19, 2008, almost four months before the fall of the Lehman Brothers investment bank triggered the worst of the financial crisis.
It just cleared the mark – 13,005.12, up 23.61 points for the day.
http://www.huffingtonpost.com/2012/02/28/dow-13000_n_1307640.html
Cheers!
Champagne anyone?
Lisa
More folks who don't believe this rally is real:
http://www.usatoday.com/money/markets/story/2012-03-05/dow-transportation-index-lags/53364968/1
I predict (and I sincerely hope I'm wrong) that the market will crash significantly again sometime close to the election. On purpose.
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