the dow

[Big girl]

The dow hit 17000 for the first time in history. Go obama!!!!!

[stevenash]

Yes, thank you President Obama for making the markets climb.  Couple of things to point out.  If this had been achieved during the Bush Administration, you would have whined and complained about how the market doesn't prove anything except how much money those evil rich people have.

 

This one ought to be pretty easy for you, Big Girl.  Pull up a chart of that same Dow that you are crowing about.  You will notice that in almost every instance, most Presidents experienced a record high in the Dow at some point during their term in office.

 

This president could have easily had a much higher Dow by this date if he hadn't done so  many things to discourage economic growth.

[tvc184]

Wait... rich people getting richer and there will be no trickle down.... Go Obama???

[stevenash]

Let me repeat this and hopefully Big Girl and  Enlightened will read ( and hate because its very accurate)

 

If you go back to 2007, the annual average increase in wealth held by those fortunate enough to be wealthy is 2.7%

 

If you go back to 2007, the average annual increase in the wages of all americans is also 2.7%.

 

I confirmed these figures, by phone ( preceded a week earlier by an in person interview) with the Chief Economist of a major U.S. securities firm.  He and I are NOT employed by the same company.  He has appeared on CNBC a number of times and served as Chief Economist for the Joint Economic Committee of the U.S. Congress in the mid 90s.