OT: The DOW keeps rising above previous 2007 "high"
How is that possible? Well....in 2007 the government was collecting $2.65 trillion in taxes but spending only $2.95 trillion for a $300 billion deficit. Today we collect about the same amount in tax revenue ($2.7 trillion) but government spending (on a borrowed dime or two) amounts to $3.8 trillion resulting in a $1.1 trillion annual deficit. ($Trillion dollar deficits are now considered "a walk in the park") And what's more, the government has borrowed $7 trillion since the market crashed and has spent every dime of that money just to get that nasty DOW back to it's previous high water mark. Yeah, yeah, yeah.... Some will argue the government was simply spending all that money doing God's work for those hungry unemployed masses with outstretched hands. Perhaps Barry threw a few crumbs their way but the bankers enjoyed the lion's share!
Needless to say, I'm so elated with their success.
And since we never have to pay back any of our government debt .....plus....the Federal Reserve is printing $85 billion of free money a month and orchestrates low borrowing rates to support the government's debt appetite, everything is smelling like roses. This stock market can only go UP!
So does this "Gloom and Doomer" worry with such records now being set in the DOW??? There's just that nagging feeling remembering what I learned in "Economics 101". And that is: "There is no such thing as a free lunch". Yes....I worry! So I but silver and gold whenever I can!