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http://news.yahoo.com/s/ap/20070425/ap_on_bi_st_ma_re/wall_street Quote:
The Dow Jones industrials cross 13,000 By MADLEN READ, AP Business Writer
37 minutes ago
NEW YORK - The Dow Jones industrial average shot past 13,000 for the first time Wednesday, powered by better-than-expected corporate earnings that boosted investors' confidence in the U.S. economy.
ADVERTISEMENT
The stock market's best-known indicator surged past its latest milestone shortly after the opening of trading, and continued rising to 13,036.99 before retracing some of its steps and hovering around the 13,000 mark.
The Dow climbed to a new record as many of the country's biggest companies surpassed analysts' first-quarter earnings projections. Among those beating forecasts Wednesday: soft drink maker PepsiCo Inc., materials manufacturer Corning Inc., consumer products company Colgate-Palmolive Co. and Dow component Boeing Co.
Wall Street got an additional lift from the Commerce Department's report of better-than-expected durable goods orders last month, reassuring investors that demand for U.S. products remains strong, lending support to the economy. The department also reported that sales of new homes rebounded slightly in March, as the market expected.
It took the Dow just 129 trading days, since Oct. 18, to make the trek from 12,000 to 13,000, far less than the 7 1/2 years that the blue chips took to go from 11,000 to 12,000. But the swiftness of this latest trip does recall the days of the dot-com boom when the major indexes were soaring and it took the Dow a mere 24 days to barrel from 10,000 to 11,000.
In the first hour of trading, the Dow was up 34.70, or 0.27 percent, at 12,988,64.
The broader Standard & Poor's 500 index was up 4.00, or 0.27 percent, at 1,484.41, while the technology-dominated Nasdaq composite index was up 4.73, or 0.19, at 2,529.27.
Bonds slipped on the positive economic data, with the yield on the benchmark 10-year Treasury note rising to 4.64 percent from 4.62 percent late Tuesday.
The Dow was the first of the major indexes to recover from the stock market's prolonged slump in the early part of the decade. The S&P 500 has yet to reach its closing peak of 1,527.46, reached in March 2000, and no one expects the Nasdaq to reach its record of 5,048.62, also reached in March 2000, anytime soon.
Still, the Dow's latest achievement did not come without setbacks and volatility — the index lost 416 points in a single session, on Feb. 27, amid fears that the U.S. economy would fall into recession and that China's economy would slow as well. And Wall Street has had periodic shudders over signs that inflation might be getting out of hand — a trend that would lead the Federal Reserve to resume interest rate hikes — and over data that showed continuing weakness in the housing market.
Just two weeks ago, the Dow fell nearly 90 points after minutes from the last Fed meeting showed the central bank's level of concern about inflation.
If the news wasn't run by Democrats - we'd be saying a wonderful economy where people spent money. Bush has been fine for the economy. Democratic propaganda has destroyed public perception of the economy. Democrats = terrorists.
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Bush has been fine for the economy.
Bush has been fine for corporate Americas economy. The rich get richer and the working people are paying $3 a gallon for gas again.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Quote:
Quote:
Bush has been fine for the economy.
Bush has been fine for corporate Americas economy. The rich get richer and the working people are paying $3 a gallon for gas again.
KING
I live in PA, DEMOCRAT Ed Rendell raised the gas tax here by 10 cents a gallon.
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Ed looks like a mob boss.
The people of this state re-elected him after the bad job he did last term so the people who voted for him get what they deserve.
"Change ownership of the team, the true change we can believe in." - I made this in 2008 
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Soup, it's a shame, this could have been a decent discussion about the economy... then you added this.. Quote:
Democrats = terrorists.
Statements like that are completely unnecessary and PREVENT rational discussions and only serve to take threads down the path of namecalling and crap like that...
If you want to make the point that Bush has been good for the economy, make it.
If somebody else wants to make the point that the middle class isn't doing well, let them make it.
If Pit wants to chime in, and he will...  , about how the debt is artificially inflating the economy, let him...
All are potentially valid points to be discussed.. how the word "terrorist" even got into this is beyond me...
yebat' Putin
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I live in PA, DEMOCRAT Ed Rendell raised the gas tax here by 10 cents a gallon.
Ok did I say the democrats were any better?? You make a claim George Bush has been great for the economy I say hogwash so you attack a dem? I guess defending Bush is geting pretty hard to do.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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I have no problems with the economy in general.
I have problems with the billions of tax dollars we spend on useless pork, a pointless war, and subsidies for industries that make enough profit not to need them.
We have plenty of issues that need attention in the US, but we are spread so thin.
Add to that, that it seems neither side (another reason why I think parties should be dissolved and just run on issues) gives 2 cents about the rising deficit.
One simple rule applies to us as individuals, and I'd imagine it would apply to us as a country. Those without debt, are better poised to trudge through downtimes. Yet, nothing is every seriously done to reduce our deficit.
We don't have to agree with each other, to respect each others opinion.
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Are you talking about the budget deficit or the trade deficit?
yebat' Putin
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If somebody else wants to make the point that the middle class isn't doing well, let them make it.
I make that point. Sorry but the " trickle down economics" dont seem to be helping the average person in this country. Also these corps that are doing very well and bringing the DOW up, how much of that money is actually being made overseas??
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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If Pit wants to chime in, and he will...
Im surprised He hasent allready! 
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Are you talking about the budget deficit or the trade deficit?
Can you explain the difference?
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Sorry but the " trickle down economics" dont seem to be helping the average person in this country.
That's the #1 problem in this country. "What is everyone else doing to help me."
Try helping yourself out for a changed.
I have and it has worked out for the best.
I can't stand people that do not put forth any effort to better themselves and then blame Bush for their shortcomings.
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Well, in a nut shell, the budget deficit is the difference between what our government takes in and what it spends.. which becomes the debt. The trade deficit is the difference between the goods we import and the goods we export.. both are often referred to simply as "the deficit"...... but when not in context, it's hard to tell the difference.
yebat' Putin
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Actually, I'm talking about the National Debt.. Was having a lack of brain activity while typing and just couldn't come up with the right term.  GND = $8,827,487,030,519.89
Last edited by FloridaFan; 04/25/07 11:17 AM.
We don't have to agree with each other, to respect each others opinion.
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Quote:
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I live in PA, DEMOCRAT Ed Rendell raised the gas tax here by 10 cents a gallon.
Ok did I say the democrats were any better?? You make a claim George Bush has been great for the economy I say hogwash so you attack a dem? I guess defending Bush is geting pretty hard to do.
KING
You made a comment about Bush being responsible for gas prices. Sorry I shot your theory down.
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That's the #1 problem in this country. "What is everyone else doing to help me."
Try helping yourself out for a changed.
I have and it has worked out for the best.
I can't stand people that do not put forth any effort to better themselves and then blame Bush for their shortcomings.
Screw you. Nobody gives me a thing and me and my wife work our behinds off to make a decent living for us and our kids. Our economy effects all of us and we have the right (as working,voting taxpayers) to complain if we dont feel our goverment(that we pay for) is making the right decisions with our tax dollars. Nobodys talking about welfare or handouts. Get off your high horse and stop trying to act like you are superior.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Quote:
You made a comment about Bush being responsible for gas prices. Sorry I shot your theory down.
First off all I didnt say anything about high gas prices being Bushs fault but if he gets credit for the good parts of our economy then he should be held responsible for bad parts. Right now high fuel/heating costs are a problem in this country not only for people but for businesses too.
Secondly how did you shoot my theory down? You attacked a democrat for doing something to cause higher gas prices in your state. How does that exonerate anybody else?
KING
Last edited by kingodawg; 04/25/07 11:28 AM.
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Quote:
I live in PA, DEMOCRAT Ed Rendell raised the gas tax here by 10 cents a gallon.
I also doubt very seriously that DEMOCRAT Ed Rendell raised the gas tax all by himself . I am sure there had to be some kindof legislative process for it to happen.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Screw you.
Nice. Trying growing up.
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Nobody gives me a thing and me and my wife work our behinds off to make a decent living for us and our kids.
When I said "you" I was referring to the people we were discussing. Not you, personally.
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Our economy effects all of us and we have the right (as working,voting taxpayers) to complain if we dont feel our goverment(that we pay for) is making the right decisions with our tax dollars.
I agree.
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Nobodys talking about welfare or handouts.
Neither was I.
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Get off your high horse and stop trying to act like you are superior.
LMAO! Being responsible is acting "superior" to you?
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he should be held responsible for bad parts.
Like that has not happened since BEFORE he took office.
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Ok I will retract a bit . When you posted it kind of came off liek you were responding personally to me. looking back at it I can see how you can say it was directed at a more broad target.
Look I think I speak for a lot of the average working middle class . Yeah I know there are some lazy asses who want handouts. I think as a working middle class person I dont think this goverment(headed by W) is working ion our best interests. I feel like this goverment is being run to cater to the lobbyists with the most money which is corporate America.
I like a lot of peole just want to be able to go to work put in a honest days work, pay our fair share of taxes, and be able to make a decent living and have decent country to live in. I think that is becoming harder and harder to do with the mishandling of our tax dollars.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Quote:
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he should be held responsible for bad parts.
Like that has not happened since BEFORE he took office.
yes it has and those president should be held responsible too. The fact is he is the president now and must take responsibilty for his eff ups.Which have been many.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Quote:
Ok I will retract a bit . When you posted it kind of came off liek you were responding personally to me. looking back at it I can see how you can say it was directed at a more broad target.
Look I think I speak for a lot of the average working middle class . Yeah I know there are some lazy asses who want handouts. I think as a working middle class person I dont think this goverment(headed by W) is working ion our best interests. I feel like this goverment is being run to cater to the lobbyists with the most money which is corporate America.
I like a lot of peole just want to be able to go to work put in a honest days work, pay our fair share of taxes, and be able to make a decent living and have decent country to live in. I think that is becoming harder and harder to do with the mishandling of our tax dollars.
KING
How are you not Republican? You work your butt off, yet support a party that gives your tax money to the lazy (PC people call them poor) and then move them into our good neighboorhoods to ruin it for those who work for a living.
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How are you not Republican?
How about it is not as simple as that. Not everything is cut and dry,black and white. I dont support either party . I listen to the issue and decide how I feel and that is where my vote goes. I have voted for repubs and I have voted for dems. I dont vote along party lines. Thats why I didnt understand why you immediatly attacked a dem when I disagreed that Bush has been good for our economy. My dislike of Bush is not about the party he is in but the job he has done. A dem dong the same pizz poor job would raise my ire too.
Now I will say a lot of issues I have felt strongly about the Dems happened to be on the same side but I am liberal on some stuff and conservative o some. It shouldnt be " your either with us of against us" simple statement from a simple mind.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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I really hate the party system , and the generalizations associated with them
I am more liberal than conservative, hence being Independent, yet I don't think anyone deserves a free handout.
We need to assist people on hard times, but they should prove they are making an effort to improve their situation themselves while receiving assistance.
Last edited by FloridaFan; 04/25/07 11:53 AM.
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The people who work for a living, are dem. rep. are the rich!
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Quote:
I really hate the party system , and the generalizations associated with them
I am more liberal than conservative, yet I don't think anyone deserves a free handout.
We need to assist people on hard times, but they should prove they are making an effort to improve their situation themselves while receiving assistance.
Good post. Very well said.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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I also believe the system is backwards. It's a PITA to get assistance, but easy to keep it, sometimes long after it's needed.
It should be easy to get it, then take effort to keep it. People in need, usually wait til they are in absolute need, and making the process easy would get them the help they need quicker. But make it so they don't just then sit back and collect checks from then on.
We don't have to agree with each other, to respect each others opinion.
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Amen...I can attest to that. The 800 top management got bonuses(totaling 160,000,000 dollars) April 18th at American Airlines, where I work, while the rank and file have given up over 1.8 billion in pay cuts and work rule changes. Their excuse? "We need to give these bonuses to keep the management here instead of them going somewhere else where they would get the bonuses...It's only in stock options." Those stock options can be cashed out immediately!!! They[management] think we are dummies. The same is going on with Northwest Airlines with their management getting bonuses as well while the workers have taken paycuts. The House Of Representatives just passed a bill stating that shareholders can have a say so in CEO bonus pay. You think that's gonna pass when it gets to Bush like it's supposed to? He already said that it would be vetoed. The American worker is what makes this country run and like kingodawg said, the rich are getting richer, when workers like me took a $10,000+ paycut/year back in 2002 to help save the airline from possible bankruptcy and now that the airline has seen four quarters of profit, we just get a,"good job for all the hard work". 
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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BLADE, your reply is kinda off there...Some of us are doing things to help ourselves, like work two or three jobs to make ends meet. Why, here in America, do two people in the same household have to work to make ends meet(sometimes), when in Europe and some other countries, citizens work less hours for more pay in some cases? Why does one person have to work two or three jobs in the most productive country in the world? When was the last minimum wage raise? In France you get longer paid vacations compared to the 2 weeks some jobs here in America give(my job, you start at 5 days paid vacation and it goes up along with your seniority).
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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Quote:
took a $10,000+ paycut/year back in 2002 to help save the airline from possible bankruptcy and now that the airline has seen four quarters of profit, we just get a,"good job for all the hard work".
what are you trying to tell me that those profits arent " trickling down"?? 
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Because in Europe people walk many places or ride Scooters and they don't typically have 2 cars. By a Scooter for the summer, they make ones now that look like motorcycles. They get 75-100 MPG. Do you eat out or cook? If you eat out - learn to cook (not TV dinners but from scratch) you'll save a TON of money and eat healthier. What do you buy that is NOT a neccessity? Do you really need it? People in this country blame others for their lifestyles. (I don't know your lifestyle, so this is directed more in general). Living smart is easy. It just takes willpower. I've wanted a flat screen for a few years, I can afford it - but I've yet to buy it because their are a few other NEEDS that have to be attended to first.
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KING, they say were gonna see our "share" of the pie...Supposedly in 2008, we may get profit sharing which totals to maybe $800 IF all the factors come into place...Like that was supposed to make us go, "OH...OK...You can have your 2,000,000 dollar bonus, FOR THE QUARTER..." They will get other performance bonuses as the company continues into profitability. The management would have gotten more money if the stock didn't drop some by the workers doing informational picketing days before they got the bonuses...
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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In spite of some of the responses here, I would say that both parties are the parties for the rich. Corporate cash goes to keeping both parties firmly in power. I'll admit that, while I consider myself a moderate these days, I probably lean more toward the Republican side based on issues. But that said nobody in the government really seems to be working for the working class. Yet both parties propagate hatred for the other as a way of keeping control of the regular people in this country.
We have, in reality, probably very few people that really fall solidly into either camp. Yet these vocal minorities control politics. You can argue that this isn't true, but look at the arguments on this very thread. I would guess that the majority of people on this forum are working class spectrum. We need a party in the middle, but that'll probably never happen.
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Oh yeah, Soup, I do some of those things...but I'm also talking about the worker that is cleaning rooms at a hotel or working at minimum wage. They are stuggling harder than I and believe me, I thank the Lord that I have a decent job. Believe me, I cut costs and my wife does as well...I cut cost BEFORE the 10,000 paycut. How about telling those ideas to my management? LOL. There a colleagues that are trying to put their kids through college with these paycuts. I know you are not talking to me in general...There are some colleagues though that do live beyond their means...
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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Oh yeah, Soup, I do some of those things...but I'm also talking about the worker that is cleaning rooms at a hotel or working at minimum wage. They are stuggling harder than I and believe me, I thank the Lord that I have a decent job. Believe me, I cut costs and my wife does as well...I cut cost BEFORE the 10,000 paycut. How about telling those ideas to my management? LOL. There a colleagues that are trying to put their kids through college with these paycuts. I know you are not talking to me in general...There are some colleagues though that do live beyond their means...
Minimum wage workers, if they want, can get a 100% commission job and make more money - but that requires real work so they avoid it. As for those bonuses, I agree with you whole heartedly, but in that position they take what they can get while they get it. This is a very greedy country, you have to take what you can while you can. that's the mentality and that's why things like that happen. It doesn't make it right. But my reason for going away from Democrats is because they give your money to the lazy. I'd rather the rich had it than the lazy (I'd rather I had it - but in this system it's not possible)
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Believe me Soup, I knew a person in California that was too lazy to work, has a child and just took welfare checks. I got angry at them and after much convincing, they got a job. I told them that I was paying for you to sit there and get your checks while sitting on the couch doing nothing when you could work and get more money...I know where you are coming from. It's just that there are those that are in situations(handicapped, disabled) who deserve that check.
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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Quote:
.I know where you are coming from. It's just that there are those that are in situations(handicapped, disabled) who deserve that check.
that's why you do away with welfare and make a plan that's just for the disabled. Welfare money would probably be cut by 80% and the people who needed it would get it.
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I read on Google about 2 weeks ago where the CEO of Occidental Life, I believe, made 400,000,000 dollars in salary and bonus last year. 400,000,000 dollars? INSANE!!! The company said that he brought their stock up to respectable levels so he deserved that pay... 
"Awww Nawww Big Slimdog!!!"
-Eminem, "B**** Please Pt. II"
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