Dow Jones Industrial Average Closes Above 17000 for First Time

Dow Jones Industrial Average Closes Above 17000 for First Time

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The Dow Jones Industrial Average topped 17000 for the first time after a rosy report on U.S. job creation helped reassure investors.

With the index rising above 17000, the Dow is up more than 3% for the year and stands 14% higher than it did a year ago.

Thursday’s rally was spurred by a report from the Bureau of Labor Statistics that showed U.S. employers added 288,000 jobs in June, well above the 215,000 expected by economists.

Anytime the stock averages are going up it is good news not only for the wealthy few but for the middle-class Americans whose retirement accounts are invested in the stock market.

(READ the story from Wall Street Journal)

Image by Sal Falko, with CC license

COMMENTS

  1. This is unfortunately no good news but a sign of the dysfunctional financial system we have on this planet. When money is created by private banks from debt, the interest on the loans creates a demand for additional money, which will flow into the sector with the most demand: housing and the financial markets. We’re really in a state called ‘stagflation’: Money flows from the real economy (where people live and work) to the financial part, where it will create bubbles like the one we see, and people will suffer when they pop. The current situation is worse than 2008.

  2. I explained why this is good news, Andreas: Anytime the stock averages are going up it is good news not only for the wealthy few but for the middle-class Americans whose retirement accounts are invested in the stock market.

    My 23 year-old son is investing for his retirement. When stocks go up, he benefits, as do his parents with their retirement account.

  3. And I explained why it’s not. To understand this you need to inform yourself (and your son too, I hope) about what money is, how it is created, how it gets its value, and because of that, how the stock market is a sham that is destroying the real economy and will soon make 2008 and 1929 look like a summer day. This is a good start: http://www.positivemoney.org/

  4. Well, no, you didn’t explain why this is not good news. You explained (and that very good video explained) why our current method of banks creating and controlling money is not good news. I wouldn’t disagree.

    But with my family’s CURRENT money in the stock market, it is definitely good news that the market has been going up, rather than crashing or plummeting. There’s no arguing that point.

    Whenever anyone can make positive changes to boost the REAL economy, as your video describes, be sure to send me the links so I can post them. It would surely be good news if more money is invested in roads, bridges, housing, jobs, etc., and more vigorous regulations are placed upon financial markets and banks.