Economy Open Thread

Scalia’s Entitlement


Artist – Daryl Cagle

In other news, U.S. stocks closed at an all time record high today.

About $10 trillion has been restored to U.S. equities in the past four years as retailers, banks and manufacturers led the recovery from the worst bear market since the 1930s. It took the Dow less than 65 months to rise above its previous high set on Oct. 9, 2007, more than a year faster than the recovery from the Internet bubble.

The news isn’t all roses, as the job market is still on shaky ground, however I believe it’s worth noting that this recovery, contrary to previous recoveries, has not been based on inflating another bubble.

  • gescove

    A healthy stock market helps a lot of folks with 401Ks or mutual funds invested in stocks. But the lion’s share of the benefit goes to the investor class and fuels, with the help of the tax code, the obscene inequality of wealth in this country where the top 1% owns 40% of it. Luckily, we can gut our out-of-control spending on the safety net to keep the other 99% (the moochers) from thinking it’s a hammock.

  • mdblanche
  • MrDHalen

    Just imagine how good we could be doing if the Republicans weren’t hell bent on preventing equal access to the American dream.