At least this cartoon portrays the relationships properly. In the “old days” (pre 2009) the market was looked at as a forward looking indicator for the economy. With all of the QE (quantitative easing) that the Federal Reserve has undertaken QE1, QE2..QE-indefinitely, it has pumped billions into the financial system and Wall street can borrow for .25 % interest. So they borrow billions, turn stocks and bonds for a 2 to 3 percent profit and feed the markets with contrived activity.
Meantime, “the folks” are still buried in debt, have houses totally undervalued with mortgages that significantly exceed the market value. Add to that layoffs, higher cost of living, insurance etc and they are living paycheck to paycheck. Then we have the last frame for the homeless, chronically unemployed, mentally ill and no hope for the future. Not much of a connection to the all time highs reached by the markets. What’s ridiculous is Europe is back in recession, unemployment in Spain and Greece is as high as 25% in some areas yet their stock markets are reaching all time highs as well. Disconnected? To say the least…
“Well Chris Matthews on MSNBS says Americans are doing FANTASTIC!
He wouldn’t be lying just to keep his position as a shill for the O administration, would he?"to listen to you conservatives, you’d think it was the poor and the middle class in the country that were making out like bandits. in fact I’ve heard that argument made by your ilk many times.the poor poor rich people have to carry all the load. it just isn’t fair to all the poor rich people!
Uncle Joe Premium Member about 11 years ago
In other words, It’s the income distribution, stupid!
Mickey 13 about 11 years ago
At least this cartoon portrays the relationships properly. In the “old days” (pre 2009) the market was looked at as a forward looking indicator for the economy. With all of the QE (quantitative easing) that the Federal Reserve has undertaken QE1, QE2..QE-indefinitely, it has pumped billions into the financial system and Wall street can borrow for .25 % interest. So they borrow billions, turn stocks and bonds for a 2 to 3 percent profit and feed the markets with contrived activity.
Meantime, “the folks” are still buried in debt, have houses totally undervalued with mortgages that significantly exceed the market value. Add to that layoffs, higher cost of living, insurance etc and they are living paycheck to paycheck. Then we have the last frame for the homeless, chronically unemployed, mentally ill and no hope for the future. Not much of a connection to the all time highs reached by the markets. What’s ridiculous is Europe is back in recession, unemployment in Spain and Greece is as high as 25% in some areas yet their stock markets are reaching all time highs as well. Disconnected? To say the least…
ConserveGov about 11 years ago
Well Chris Matthews on MSNBS says Americans are doing FANTASTIC!
He wouldn’t be lying just to keep his position as a shill for the O administration, would he?
dannysixpack about 11 years ago
ConserveGov said, 5 days ago
“Well Chris Matthews on MSNBS says Americans are doing FANTASTIC!
He wouldn’t be lying just to keep his position as a shill for the O administration, would he?"to listen to you conservatives, you’d think it was the poor and the middle class in the country that were making out like bandits. in fact I’ve heard that argument made by your ilk many times.the poor poor rich people have to carry all the load. it just isn’t fair to all the poor rich people!