The economy

[oldster]

There is lots of cause for concern and caution out there, but we are a capitalist nation and our stock markets are one of the barometers for how things are going and perhaps a directional guide for the future.

Since the March 9, 2009 bottom, the Dow is up 61.2%. The S&P 500 is up 68.3%, and the Nasdaq is up 83.8%.

Do I think that means that we are out of the woods?  Of course not.  But I'll remind the naysayers that at about this time last year I posted something in the old forum about the markets.  It was advice from Warren Buffett that it was the time to buy.  I said that I was going to follow that advice, and was chastised by a few of the naysayers that the market was going down to 5000, that investing in America at that time was a bad idea, etc.

I have to gloat and say that it's worked out pretty well for those of us who took a chance on our nation and its ability to overcome adversity.

We have a long way to go, and there are sure to be ups and downs, but I believe that we have weathered the worst of the storm.  I hope that I'm right.  I have great faith in the strength of our economic system and in the strength of our government, even when they do things that make us shake our heads.

[PSUROCKS]

Wait until the inflation hits.

[oldster]

Every silver cloud has a dark lining.

[RobinQuillonsHair]

We have a long way to go, and there are sure to be ups and downs, but I believe that we have weathered the worst of the storm.  I hope that I'm right.  I have great faith in the strength of our economic system and in the strength of our government, even when they do things that make us shake our heads.

It must be time to sell.  I hope you're right too but I personally don't think we've hit bottom yet.

[whatfreedom]

it would be good to see light at the end of this tunnel but we have yet to see the headlights inside the tunnel from commercial property markets, healthcare cost increases AND state revenue shortfalls that will be left underfunded by the Federal Gov't concern over debt concern. Yes, employers are hiring a few temps to possibly allow replacement with some experience because of attrition but hardly because business is booming.

We have BANKS that received TRILLIONS in bailouts and yet halfway thru our stimulus spending of LESS than ONE Trillion we have seen little signs of growth. If healthcare moves ahead a single congressman from Ohio tells the real story on MSNBC's Countdown that building on a foundation of sand is not a very wise idea and this concept even is included in the Bible. For it is much wiser to build a rock solid foundation to have a successful endeavor. The Statue of Liberty had trouble getting funds together for the fine gift from our French friends of Liberty but finally, the folks in NYC came together with small donations from school children to large corporate gifts to build the foundation which has endured (except in Hollywood movie scenes of disaster genre)

Dennis Kucinnich's take on why WE NEED SINGLE PAYER OPTION

http://www.commondreams.org/video/2010/03/09

[PSUROCKS]

Every silver cloud has a dark lining.

Spending money you don't have never results in prosperity.

[oldster]

Spending money you don't have never results in prosperity.

Good point.  I don't believe that we are headed inexorably upward, but we have moved in a positive direction in at least one measures.  I have my fingers crossed.

[oldster]

It must be time to sell.  I hope you're right too but I personally don't think we've hit bottom yet.

I hope you're wrong.  I certainly don't know the answers, but I hope that the ups outstrip the downs over the next few years.  Who would have thought at this time last year that we would have made the gains that we have made, at lest in the stock market.  I hope that our national strength and will are able to deal with the international crises that are ongoing, with the threat of the Chinese and Indian economies and with the ongoing problems with housing and finance.

And I believe that if you are correct and we have even deeper difficulities that we will overcome them as a nation.

[Wiener]

Obama hates anything that can make one man wealther than another, so I think you all better get to praying about your precious stock market.

Look at what is going on to New Zeland right now and in that you see the United States there in the same position in just a matter of a 1 year maybe.

[oldster]

Bumping this back up.  After a high spot this spring (over a year after the original post) there was a significant decline, and now we are headed back up again.

BTW, our "precious stock market" is THE hallmark of capitalism, and the antithesis of Marxist socialism.

[RobinQuillonsHair]

I haven't sold yet!

Interesting radio ad today talking about the hot new investment opportunity to protect yourself from the collapse of everything else.  This used to be an advertisement suggesting you buy gold.  Now it's oil and energy stocks.  Gas prices must be coming down faster than expected!

[Citizen X]

BTW, our "precious stock market" is THE hallmark of capitalism, and the antithesis of  Marxist Socialism.

Isn't that what the 'MS' in MSNBC stands for? At least that's what I've heard.

[oldster]

I don't try to do it myself because I just don't know enough.  And I worry that I might be too impulsive.  I ignore the talking heads and put my investments with proven professionals.  That isn't failsafe, of course, but probably a whole lot safer than trying to manage it myself.  I've done ok since that original post, better than the percentage of the indicators, and I believe that is because of the two advisers whom I use.

A friend of mine made enough from summer through spring to cash in his profit and buy a house in Florida.  He's a smart or lucky guy because right after he did the market had it's little stumble.

The indicators right now are for another little run.  I hope so, because if there is a run at this point it will probably be because of improvements in the manufacturing and employment numbers and limited inflation.

[escapeman]

The stock market may not be that great a barometer for the economy. I keep thinking Bernie Madoff. IMO, manufacturing and  jobs  would be a better measure.

[pbal]

BTW, our "precious stock market" is THE hallmark of capitalism, and the antithesis of Marxist socialism.

When our leaders use your money to prop up the investment bankers who finance our "precious stock market," it then becomes THE antithesis of capitalism and the hallmark of Marxist socialism.