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Reuters and Yahoo Finance report that the Dow 30 NASDAQ and S&P 500 stock indexes all reached record high levels on Monday. According to Yahoo this last occurred in 1999.
Reuters cited as possible factors speculation that the central bank will not soon raise interest rates, rising oil prices due to speculation that oil producers may cut production, and a Bureau of Labor Statistics report issued earlier in the month.
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New York Stock Indexes Reach New Highs
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The last time I saw him he was walking down Lover's Lane holding his own hand.
-- Fred Allen
(Score: 2) by sjames on Tuesday August 16 2016, @06:58PM
The more I think about it, the more I am lead to question investment itself as it is practiced now. We can't ALL shirk productive effort and live on investments, after all. Someone has to actually DO something. It seems we would be better off focusing support on those people.
Agreed, we need to tax the people who actually have money and (in spite of their continuing state of denial) are utterly dependent on the people who actually do things. A proper safety net is certainly in order.
That and put an end to the ludicrous healthcare situation. In addition to paying 4 times as much as the next most expensive healthcare system, I can't think of another industry where we effectively allow them to replace price tags/sheets with a note saying "you'll pay what we tell you because you have to". Every bill is a surprise.
It's well past time to re-examine free trade. We would be a lot better off if we used tariffs judiciously to correct for 'impedance mismatch' between our economy and developing economies.
Really, there's a myriad of potential solutions, nearly any of which would probably help. They just depend on an actual interest in Main Street over Wall Street. It requires acknowledging that the only thing that trickles down is urine.