Dow, S&P 500 end at record highs again

Comments (5)
Bradnaksuthin wrote:

Whenever I look at my 401 K portfolio I am reminded of how far we have come in 6 years.
6 years ago, as President Bush was preparing to turn the country over to Obama my 401K retirement had collapsed. I remember turning to my wife after looking at our Charles Schwarb statement as saying “We’ve lost half of our retirement investments”
As Bush was preparing to leave office in early 2009 I think the DOW have fallen to 8000 and the NASDAQ had plunged to 1500.
The country was in economic freefall. Banks were going out of business, housing prices were falling like a rock, hundreds of thousands of workers were being laid off every month. The US auto industry was on it’s knees begging for a bailout. The Bush administration borrowed 700 billion dollars from the taxpayers to bail out the banks..which were frozen in fear. Newscaster started using the word “2nd Great Depression”.
Back then, I thought to myself “I am actually going to live through an Economic Depression like my dad did”, “All my retirement savings for the last 30 years are going to disappear”. “We will end up having to work for the rest of our lives instead of enjoying retirement”

How different things are today…6 years later.
The worst recession in US history is over
People are going back to work
Banks are healthy and profitable again
The US auto industry is the pride of the nation
Housing prices are on the rise again
Gas prices, adjusted for inflation, are lower than they’ve ever been before
Inflation is low
Interest rates are low

And the stock market? Businesses are booming.
It’s in record territory. It has NEVER been this high
the DOW is higher than it has ever been in it’s history
the NASDAQ has tripled since the closing days of the Bush administration.

So….Now that I am actually in retirement and cashing out my retirement investments

6 years ago, with the country in economic chaos, I could not have dreamed that our country would be where it is today. It was unthinkable. Unimaginable.

Yet here we all are today….in a country that rose from the ashes of economic disaster called the GREAT AMERICAN RECESSION….to become a vibrant growing healthy economy.

in 2009 the Bush administration handed Obama handed a rotten lemon…and in 6 years he has turned it into sparkling Champagne.

May 13, 2014 9:34am EDT  --  Report as abuse
keener91 wrote:

Bradnaksuthin, I am glad you cashed out your investment and enjoying your retirement. Unfortunately, what is reflected in the market does not reflect the state of the US economy. So I am worried about the folks who are not close to retirement, who are no where near the top% income earners. What of them and their children when this house of cards collapse?

May 13, 2014 11:34am EDT  --  Report as abuse
GFY365 wrote:

Sure, it appears that way. My probelm with all this economic growth is the fact that QE3 still exists. That along with our countrys rising debt , 17.5 trillion, 61 trillion in total liabilities is a larger problem. Close down Qe3 and lets see what happens.

May 13, 2014 1:07pm EDT  --  Report as abuse
adsffdsa wrote:

Bradnaksuthin –

Your comment lacks any understanding of finance. All you say is the economy is better because stocks are up. Ha stocks haven’t reflected the economy since the end of the downturn in 09. The reason stocks are so high is because of the FED and nothing to do with who is in the White house. The overall economy is not better and other than the top 10% that own stocks the rest of the country has not benefited from the rebound of free money from QE which does not reflect the actual economy. Please explain to me why the markets are making all time highs when q1 gdp printed at .1% and will most likely be revised negative? Your using the indexes as a mark for the underlying economy is laughable and shows you don’t understand how the markets truly work.

May 13, 2014 2:44pm EDT  --  Report as abuse
BeReel41ns wrote:

With the Fed’s phony money–all things are possible, and yes, even pigs can fly–

May 13, 2014 4:57pm EDT  --  Report as abuse
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