Stock market reaches record high in broke, destitute nation
by David Atkins
This country is broke. So, so broke:
NEW YORK--Blue chips continued to climb to new heights, pushing beyond the record levels reached in Tuesday's rally after a better-than-expected reading on the labor market.
The Dow Jones Industrial Average climbed 42.47 points, or 0.3%, to 14296.24 in late trading on Wednesday. On Tuesday, the blue chips soared 126 points to punch through a closing level not seen since before the turmoil that ensnared the markets for five and a half years. Dow industrials have climbed for three sessions in a row and five out of the past six.
The Standard & Poor's 500-stock index tacked on 1.67 points, or 0.1%, to 1541.46. But the Nasdaq Composite Index fell 1.77 points, or 0.1%, to 3222.36, pulled down by Apple and Google, which shed 1.3% and 0.9%, respectively.
We have no money at all.
In fact, we have no choice to come together in a bipartisan fashion to slash Medicare, Social Security, climate mitigation and investments in our nation's future. We certainly can't ask our job creators to pay for any of it:
Our lazy citizens just aren't producing enough to stay competitive in a global marketplace, so wages have to come down.
And our poor, bedraggled corporations just aren't making enough profits to justify hiring.
So, so broke. Whatever shall we do?
'via Blog this'
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