Slog

News & Arts

Line Out

Music & the City
at Night

« Washington State's Stupid Fucking A… | The Importance of Being Genius »

Thursday, September 6, 2012

2012 / Economy Are You Better Off Than You Were Four Years Ago? Well, Wall Street Is.

Posted by Goldy on Thu, Sep 6, 2012 at 3:36 PM

When President Barack Obama speaks tonight, he will take the stage with the S&P 500 at a four-year high.

Now, I'm not one to suggest that Wall Street indices are accurate reflections of the economy as a whole, but if you believe in the collective wisdom of markets (as Republicans do) then Wall Street's steady climb over the past couple years sure does suggest that our market makers think the economy is moving in the right direction. And it also suggests that many of those Americans fortunate enough to have retirement portfolios are probably feeling a little more comfortable these days.

Mitt Romney and his fellow Republicans are relentlessly campaigning on a promise to move our nation in a new direction... rhetoric that may not work out so well for them if voters sense that the economy is steadily (if slowly) improving.

FacebookShare

Comments (9) RSS

Oldest First Unregistered On Registered On Add a comment

Well like all politicians, Obama's job is to serve his corporate masters.

Posted by Cascadian Bacon on September 6, 2012 at 3:47 PM

Main Street has sworn off the markets, Goldy...

Posted by you clueless sack of shit.... on September 6, 2012 at 4:09 PM

Today was a huge movement-all upwards, the largest since August 3rd. The market was quite and pulling down/back throughout the whole Republican convention too.

Posted by Westlake, son! on September 6, 2012 at 4:18 PM

They Like Me!

They Really Really LIKE ME!!!

Posted by Democrap on September 6, 2012 at 4:26 PM

"Those Americans fortunate to have retirement portfolios" is one of those constructions designed to whip up anti-fat-cat sentiment, but what it really means is "everyone with a halfway decent job". If you're in a union, you have money in Wall Street; if your company has a pension plan, 401k, IRA, or similar thingie set up, you're in Wall Street, even if it's just mutual funds. If you're NOT in any of those things, you are well and truly fucked; you will spend your retirement homeless, so congratulations.

A rising S&P is good for almost everybody.

Posted by Fnarf

on September 6, 2012 at 4:30 PM

Other than my student loan debt, I know I am.

Posted by tigntink on September 6, 2012 at 4:35 PM

The "fat cats" are still likely to vote Rmoney because they know they'll pay less in taxes on their millions even though their companies and stocks will be in the crapper. It's the personal greed that drives their decisions.

Posted by SPG on September 6, 2012 at 6:25 PM

He have you done that investigative piece on Apple people selling off stock options for rates that make Wall Street salaries look like coin for a new bike headlamp?

Oh no wait..those are the "cool" rich people who like, fund ways to turn Juicey-Juice cartons into solar lamps.

Posted by Supreme Ruler Of The Universe

on September 6, 2012 at 9:38 PM

Look - here's the message that needs to get out there. Wall Street is strong, corporate profits are at an all time 60 year high, so when the Republicans say the economy is in the tank, tell them to FUCK OFF. When someone complains the the success of Wall Street and Corporate America aren't doing anything for the 'average Joe', that's when you tell them that trickle down economics DOES NOT WORK !!!

Give the man 4 more years.

Posted by TreGibbs on September 6, 2012 at 9:47 PM