Dow hits record, erasing Great Recession losses

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  • John C. C. Payson, UT
    March 6, 2013 10:26 p.m.

    Perhaps the losses in stock values were recovered, but the losses of all the people across the nation who lost their homes, their retirement savings, and their jobs due to the great bank robbery of 2008 may never be recovered. Thanks, all you conservatives who oppose bank regulations and worship rich, white-collar criminals.

  • JoeBlow Far East USA, SC
    March 6, 2013 8:21 a.m.

    Obama is sure to go down in history as the worst Socialist EVER.

  • Truthseeker SLO, CA
    March 6, 2013 8:03 a.m.

    Why is the market booming yet the economy not?

    "First, productivity gains. Corporations have been investing in technology rather than their workers. They get tax credits and deductions for such investments; they get no such tax benefits for improving the skills of their employees. As a result, corporations can now do more with fewer people on their payrolls. That means higher profits.

    Second, high unemployment itself. Joblessness all but eliminates the bargaining power of most workers -- allowing corporations to keep wages low. Public policies that might otherwise reduce unemployment -- a new WPA or CCC to hire the long-term unemployed, major investments in the nation's crumbling infrastructure -- have been rejected in favor of austerity economics. This also means higher profits, at least in the short run.

    Third, globalization. Big American-based corporations have been expanding and hiring around the globe where markets are growing fastest.

    Finally, the Fed's easy-money policies. They've pushed investors into the stock market because bond yields are so low."
    (Robert Reich)

  • xscribe Colorado Springs, CO
    March 6, 2013 7:57 a.m.

    "Has anyone experienced being restored 100% of their losses in this great gov't fiasco of a financial crisis?"

    I'm not even sure what this means, but I can tell you that my retirement has doubled over the last few years, and I'm well ahead of where I was 8 years ago. Maybe instead of saying things are a lie, you could explain your post so we know what you actually mean.

  • UtahBlueDevil Durham, NC
    March 6, 2013 5:31 a.m.

    Sammyg - if you didn't sell any stock, you didn't loose any money. Hopefully people with a plan held to their holdings, kept their holds, kept adding to them at discount rates, and are far on top tight now.

    If you were selling off assets to support your needs, well then yes, you may have been hurt. But that points to a series of other issues.

    I had nothing to be restored. The only time equities prices impact me is when I buy them, and sell them. What the do in between doesn't impact my lifestyle one bit. Same with home values.

  • sammyg Springville, UT
    March 5, 2013 9:38 p.m.

    I love how the media states that today's high mark erases the losses. Nothing could be further from the truth.

    It might be that the Dow has surpassed it's past high water mark but stating this has erased anything is a bold faced lie.

    Has anyone experienced being restored 100% of their losses in this great gov't fiasco of a financial crisis?