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Thread: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

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    S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    * Jobless claims fall, housing starts accelerate

    * EBay gains after results beat expectations

    * Bank of America, Citigroup results weigh on financials

    * Dow up 0.8 pct, S&P 500 up 0.7 pct, Nasdaq up 0.7 pct

    S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Best news ive heard all day, other than the nice raise i received!

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Its good to know Obama stayed well behaved and the hell out of the way.


    Quote Originally Posted by head of joaquin View Post
    S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by head of joaquin View Post
    S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    It will be fun to see how the rightwing noise machine tries to spin this good news into impending doom. If history is a guide, they'll come up with some cretinous theory. The good news (besides the increased signs of economic recovery) is that Americans are basically optimistic people, and the ugly pessimism and dark predictions for our country peddled by the Right, just makes conservatives appear even more out of touch.
    All I will say, it is good news, but the US economy has a long way to go. Housing starts in November were actually revised downward in this report and I wouldn't be surprised if December's numbers revised next month. So take these numbers with a grain of salt. Same with Jobless claims. Jobless claims swing a bit much this time of year due to the holidays. So don't be surprised if you see the next two weeks jobless claims at 360,000 range which would tank that "good" news today.

    Btw S&P, DOW and Nasdaq valuation has nothing to do with the economy recovering as we haven't recovered past pre-2008 levels yet here we are at 13,500 on the Dow. Just shy of the peak of 14,066 in Oct 2007.
    Last edited by austrianecon; 01-17-13 at 07:12 PM.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by ex99 View Post
    Best news ive heard all day, other than the nice raise i received!
    Hey, congratulations. We've been limping along since the recession, with last year me and my partner talking less in draws than some of my employees. But this year, it's already turned around.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by ReformCollege View Post
    Its good to know Obama stayed well behaved and the hell out of the way.
    We have obamaphobia liftoff!

    I could have sworn Obama raised taxes on the top bracket -- and the DOW has skyrocketed. So much for another discredited rightwing meme.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by ReformCollege View Post
    Its good to know Obama stayed well behaved and the hell out of the way.
    Well, if a president gets the blame for a bad market, he also gets the credit for a good one. Certainly, two well mannered gentleman can agree hypocracy does not advance any debate.

    I was looking at my Vanguard investments today. They came in the mail. They bottomed out in 2008. They have been kicking butt since.

    Personally, I do not credit Obama for the increase in my personal investments. Not anymore than I blame Bush for my stock losses when he was at the helm. Because I really don't think the oval office has that much control over them.

    To think otherwise, I would certainly have to curse Bush and kiss Obama's butt. I mean, if the president gets the blame/credit and all.

    Here's who I credit. ME! I worked hard for the money I stuck in market. I took it up the ass during the hard times. I stuck it out. I kept working harder and harder and putting more and more back for my rainy day. Now, I reap what I sowed. Screw a president. I never met a single president I thought cared two hoots about my retirement and quality of living. GOP or democrat.

    It's GREAT to be me. --- "45% liberal/55% conservative"
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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by ex99 View Post
    Best news ive heard all day, other than the nice raise i received!
    Congrats!

    Hope it gets you something nice.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Quote Originally Posted by head of joaquin View Post
    We have obamaphobia liftoff!

    I could have sworn Obama raised taxes on the top bracket -- and the DOW has skyrocketed. So much for another discredited rightwing meme.
    And it just keeps coming. LOL!

    It's GREAT to be me. --- "45% liberal/55% conservative"
    Diplomacy is the art of saying 'nice doggy" until you can find a gun.

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    Re: S&P 500 Hits New 5-Year High On Housing Boost, Jobless Claims

    Fannie and Freddie are now making loans without appraisals and housing is going wild here in Las Vegas. Prices are increasing daily. Buyers are flooding the market.

    Anything familiar about this?

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