Nasdaq Composite Rallies, Tops 5,000 for First Time in 15 Years

(Bloomberg) — The Nasdaq Composite Index closed above 5,000 for the first time in 15 years while the Dow Jones Industrial Average and Standard & Poor’s 500 Index reached records as gains in consumer purchases signaled strength in the biggest part of the economy.

Just sayin’

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20 Responses to It’s Obama’s Fault!

  1. John Casper says:

    Thanks Ed. One of the reasons the markets are doing so well, interests rates are so low. Without an interest bearing FDIC-insured option, that forces pension funds, anyone with a retirement vehicle 401(k), IRA, into the rigged game that the markets are. IMHO, the elites are either high frequency traders, don’t trade on the public exchanges, NYSE, NASDAQ,…., or both.

  2. Jonathan Swift says:

    The RICH GET RICHER AND THE POOR NO LONGER FREE BIRTH CONTROL FROM PLANNED PARENTHOOD. Damn caps lock.

  3. nonquixote says:

    Not sure Ed if you were being sarcastic or not, but it is Obombya’s fault.

    I’m certain someone can give me the proper figures, but when the top trading/financial firms get somewhere between about $8T-$9T in FED (taxpayer backed) monopoly money to manipulate (trade and buy) their own stocks to prop up prices (value?), siphon off large executive salaries for the privilege of playing with all that created credit, it is not too hard to blame it on Obombya.

    IMO, and the opinion of others with much greater knowledge, this benchmark in the stock value has nothing to do with real world economic, “recovery,” for the rest of us as Mr Swift alluded to. The link will require more than a minute of reading for those who have the attention time.

    http://www.counterpunch.org/2015/03/04/the-neoconservative-threat-to-international-order/

    This raises the question: Why was the credit rating of Russia, a country with an extremely low ratio of debt to GDP, downgraded and not that of the US? The answer is that the downgrading of Russian credit worthiness was a political act directed against Russia in behalf of US hegemony.

    How long can fairy tales and political acts keep the US house of cards standing? A rigged stock market. A rigged interest rate. A rigged dollar exchange value, a rigged and suppressed gold price. The current Western financial system rests on world support for the US dollar and on nothing more.

    The problem with neoliberal economics, which pervades all countries, even Russia and China, is that neoliberal economics is a tool of American economic imperialism, as is Globalism. As long as countries targeted by Washington for destabilization support and cling to the American doctrines that enable the destabilization, the targets are defenseless.

  4. Duane12 says:

    Impressive and rewarding for some of society I’m sure, but what is the effect on decreasing the income disparity for the 47% and/or working stiffs?

  5. SoulfulSeeker says:

    To: “nonquixote” >>
    Are you SURE that paragraph in the blue box is correct?? >> It is NOT “Neo-Liberal” Economics…
    it IS “Neo-CONSERVATIVE” Economics…as the LINK you provide with/in your comment EXPLAINS…
    And, it WILL DIRECTLY CONTRIBUTE TO AMERICA’S “UN-DOING”…IF continued.
    We just NEED 51% OF AMERICANS TO WAKE UP…AND “SHIFT” THIS…

    • nonquixote says:

      First, thanks for following the link, sometimes I wonder if anyone does so.

      There is the opening explanation of the two separate public addresses the author gave. The first address is more of a historical perspective/explanation of neoconservative hegemony, global domination. IOW, we are the, “exceptional,” Americans, we, “deserve,” to dominate the globe.

      The second address asks whether there are “internal,” or natural restraints to, “global domination,” by the US. Shorter, from my understanding, can our financial house of cards crumble at any moment? I think the author is absolutely clear and I tend to think, yes it can and likely will crumble at any moment.

      It may be confusing if a reader assumes that war-mongering neoconservatives don’t populate the Obombya administration. Ambassador Nuland fits the bill. So does our POTUS.

      Holding those neoconservative positions does not preclude supporting/enabling neoliberal financial policy at the same time.

      Thanks for a chance to bump this to the top again.

  6. Cat Kin says:

    If American Neo-Liberal/conservatism controls the world, why can’t the Russian/Chinese hegemony upset it, with all it’s supposed American limp underpinnings?

    It’s called credit, comrade Nonquixote! the same thing all banking systems have been built on for centuries. If the world thought there was another credit-worthy currency, don’t you think, with all the disrespect this country and specifically our current president is under from Republicans and comrades like you, they would at least attempt to move their credit backing?

    Trust, standing behind what you say as much as you can, makes a stable currency and our outstanding President Obama has done that to the highest degree possible and everyone knows this, except for self-aggrandizing fools like you and our doting Republican “leaders.”

    • John Casper says:

      Cat,

      The author of the CounterPunch piece that nq linked to is “Paul Craig Roberts (born April 3, 1939) is an American economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration and was noted as a co-founder of Reaganomics.[1] He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He has testified before congressional committees on 30 occasions on issues of economic policy.”

      http://en.wikipedia.org/wiki/Paul_Craig_Roberts

      With all due respect, I suggest you re-read the article.

      OT, if the GOP hates Obama so much, why are they trying so hard to “fast-track” secret Trans-Pacific Partnership negotiations to the Executive Branch (Obama)?

      “The White House Has Gone Full Doublespeak on Fast Track and the TPP”

      https://www.eff.org/deeplinks/2015/03/white-house-has-gone-full-doublespeak-fast-track-and-tpp

      • Cat Kin says:

        Having gone through two World Wars and near nuclear Holocaust. the civilized world has formed somewhat of a loose cartel to keep from losing the planet. These are people who hold great wealth, none greater than the Russian Oligarchs, who move international currencies and pick over world resources. Presidents, dictators and/or kings have little to say on the matter. Revolutionaries via Castro even less. Academics like Paul Craig Roberts are mere distractions for the Plebs.
        The United States not participating in TTP wsould be like Macy’s opening up on Fifth Avenue and refusing business to everyone but pure bred Norwegians. It wsoul be simply a waste of resources and an exercise in futility. By getting involved, the American ethic-which does still exist-might move the whole operation toward justice instead of, as Non fears vehemently, the other way around.

        • John Casper says:

          Cat wrote: “Having gone through two World Wars and near nuclear Holocaust. the civilized world has formed somewhat of a loose cartel to keep from losing the planet.”

          It was the labor movement after WW1 that made great strides, until about 1970, in reducing income inequality. Since then, everything has been favoring the oligarchs/elites.

          Cat wrote: These are people who hold great wealth, none greater than the Russian Oligarchs,

          Wrong again. Link below is to the Forbes 100

          1. Gates, 2. Helu (Mexico) 3. Buffett, 4. Ortega (Spain) 5. Larry Ellison 6. Charles and David are both tied. 8. Christy Walton (Walmart) 9. Jim Walton 10. Lilane Bettancourt (France).

          First Russian doesn’t come till 73, Viktor Vekselberg. US leads by far.

          http://www.forbes.com/billionaires/list/#version:static

          Cat wrote: “who move international currencies”

          Everyone does it.

          “ICAP adds price displays for CHF single currency swaps to 2006 ISDA definitions
          By Andrew Saks-McLeod on Thursday, 02.19.15

          “The 2006 ISDA definitions are regarded as the primary source of third party reference data for the derivatives market. With a robust and compliant framework in place, we’re pleased to provide our market leading IRS data to the market. It will give market participants an insight into accurate trading flow and prices to inform their decision making and risk profile.” – Frits Vogels, Head of EMEA, Global Broking, ICAP”

          http://leaprate.com/2015/02/icap-adds-price-displays-for-chf-single-currency-swaps-to-2006-isda-definitions/

          Cat wrote: “and pick over world resources.”

          You mean like what we did by invading the Iraq, putting western oil companies in charge of their oil?

          Cat wrote: “Presidents, dictators and/or kings have little to say on the matter.”

          So, democracy failed?

          Cat wrote: “Revolutionaries via Castro even less.”

          I’m sorry you missed “The Godfather.” It covers Castro throwing them (and the corrupt U.S. backed-Batista regime who was in bed with the mob) out of Havana.

          Cat wrote: Academics like Paul Craig Roberts are mere distractions for the Plebs.

          You sound like Gov. Walker.

          Cat wrote: “The United States not participating in TTP wsould be like Macy’s opening up on Fifth Avenue and refusing business to everyone but pure bred Norwegians. It wsoul be simply a waste of resources and an exercise in futility. By getting involved, the American ethic-which does still exist-might move the whole operation toward justice instead of, as Non fears vehemently, the other way around.”

          I believe in FAIR trade, not free trade. Have you missed how much damage NAFTA has done? I guess so. T-PP is NAFTA on steroids. Please by all means, list all the benefits of NAFTA, but provide some links.

          • Cat Kin says:

            Because I admire your sincerety-and your plebian erudition/research, John Casper, I will attempt again to calm your fears. Editors like those of the Fortune 500 must attempt to “remain in the pale.” So I give as much credence to their ratings as to those of “The Hunger Games.”

            Meaning their facts are limited to what the cartel wants the public to think. It’s not an entirely true picture of our cosmos.

            Look. Nobody ever thought that after soldiers were booed by the public upon returning wounded or not from Vietnam that we’d ever initate a war again. We did, with Iraq. Will we do it again with Iran–whose only threat in the Middle East is to the economy and influence of Israeli power brokers? As long as the cartel believes that war and threats of war are the only sure way to control the population we will continue to fight the Syrias, The Ukraines and the Irans of the world.

            Develop a thriving and productive economy based on modern Labor and management cooperation and things just might get better…though I’m beginning to think that only the second coming of Jesus Christ will perfect that senario.

        • John Casper says:

          Cat, if you think T-PP through, I think you’ll see that the US trade imbalance is a real long term threat. We can’t run of dollars, the federal government creates them, most electronically. There is plenty of stuff, however, that we can run out of. If we import all that stuff, other countries have all “our” dollars and can literally come in and buy anything they want. Is that what you want?

    • John Casper says:

      Cat, beginning after the 28 minute mark in this video link, http://rt.com/shows/boom-bust/238633-us-employment-real-estate/

      you can see and listen to Paul Craig Roberts make the identical points he made in the Counterpunch piece.

      A lot of people I trust on Twitter… say that the US is relying on white supremacist/Nazi groups in the Ukraine to fight Russia.

      “Is the U.S. Backing Neo-Nazis in Ukraine?
      Exposing troubling ties in the U.S. to overt Nazi and fascist protesters in Ukraine.”

      http://www.alternet.org/tea-party-and-right/us-backing-neo-nazis-ukraine

  7. Cat Kin says:

    You forget, Mr. Casper, just how diverse this country is. Despite heavy Nazi sympathies in this country opposed to FDR and his reforms America went to war against Germany with England and most of Europe on their heels, possibly making a deal with Japan to bomb Pearl Harbor to get public support. And despite our Senator McCarthey’s pogrom against Communist sympathizers, people like comrade Nonquixote are still free to voice their discontents with American enterprise.
    I watch closely, and under our current magnificent president, I do not think America will be backing genocidal regimes anywhere in the world in the next two years.

  8. nonquixote says:

    Thanks John Casper,

    I refrained from responding to CK when I read it a couple hours ago. I try to respect my elders, especially those that must be a 100 yrs old having gone through two world wars and such. And promising the POTUS won’t be “backing,” any genocidal regimes clearly avoids recognition of the fact that we are the genocidal regime.

    With the US pushing/suporting NATO to fight Putin in the Ukraine to control Russia’s ability to trade with eastern Europe we are paying a high financial cost to force eastern Europe to depend on US interests to supply their fuel and economic commodity needs. Needs that would otherwise be substantially less expensive for them if buying from Russia.

    24% real unemployment in the US, $2T estimated by US engineering groups for infrastructure neglect needing immediate remediation, an undiscoverable military budget total annually to kill hundreds of thousands in the middle east, displace millions more, a NSA that if it had been left even partially unfunded we would likely have not noticed any increase in, “threats,” to the “homeland,” just as what occurred when the NYC police did a work slow-down recently, there was zero increase in criminal activity.

    CK fails to see the larger picture of the price we pay to prop up our house of credit cards. So let us ramp things up a bit as CK would probably think appropriate (CK this link and the ones in the article might strain your comprehension and beliefs):

    http://www.counterpunch.org/2015/03/06/how-obamas-aggression-in-ukraine-risks-nuclear-war/

    • John Casper says:

      nq, thanks.

      More on Ukraine.

      “Report Highlights Role Of Western Corporations In Ukrainian Agriculture”

      “…In addition, firms can buy shares of existing Ukrainian companies, which in turn make billionaires like Oleg Bakhmatyuk. Bakhmatyuk owns UkrLandFarming, a company noted as the “largest land bank in Ukraine.”

      Recently, it sought out to buy its rivals as a result of the crisis and, thus, gain even more land. Cargill, one of the largest American agriculture companies in the world, bought shares worth $200,000 with exports to China as the reason for the deal.

      With firms from places like Denmark, Saudi Arabia, Russia and France, there is no doubt more investors will seek to obtain more land starting next year.

      Companies like Monsanto, meanwhile, invest in Ukraine to promote biotechnology for example. In fact, the Oakland Institute released a report last July where they found an agreement between the European Union and Ukraine actually helped make investments for it more likely:

      Whereas Ukraine does not allow the use of genetically modified organisms (GMOs) in agriculture, article 404 of the EU agreement, which relates to agriculture, includes a clause that has generally gone unnoticed: it indicates, among other things, that both parties will cooperate to extend the use of biotechnologies. There is no doubt that this provision meets the expectations of the agribusiness industry. As observed by Michael Cox, research director at the investment bank Piper Jaffray, ‘Ukraine and, to a wider extent, Eastern Europe, are among the “most promising growth markets for farm-equipment giant Deere, as well as seed producers Monsanto and DuPont.’

      Strangely, as noted above, Ukraine does not allow GMOs nor do most countries in Europe. It is revealing as these are companies promoting GMO use. …”

      http://news.firedoglake.com/2015/01/22/report-highlights-role-of-western-corporations-in-ukrainian-agriculture/

      Michael Hudson’s an economist UMKC, “Michael Hudson: Has the IMF Annexed Ukraine?”

      http://www.informationclearinghouse.info/article41004.htm

  9. John Casper says:

    A lot of folks I trust are asking why Obama/Congress are basically running a “Bay of Pigs” in reverse. Ukraine’s a lot closer to Russia than Cuba is to the U.S.

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