Quote:
Originally Posted by sperbonzo
Funny, but when Clinton was in office and it hit 10,000 the media was SCREAMING how great the economy was.... and that was based on dot.coms that had no profits. Now that it hits 13,000 the media just says things very quietly like, "well, it may not be stable"
Sometimes the bizarre leftness of the mainstream news is almost Orwellian
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the DOW didn't hit 10k on the basis on dot coms there are no dot com stocks in the DOW (although MSFT has exposure). Plus the DOW is only 30 bigass stocks it's hardly a reflection of the economy. You have to look at the S&P or Russell 2000 which are only at their 6 1/2 year highs so they're not any higher than when Bush took office.
Having said that the economy is pretty good, and it's getting good press on CNBC anyway. A lot of the growth in the US stocks is earnings coming from overseas as globalisation is really starting to pay off.