Thread: Dow closes at 22,000, book third 1,000-point milestone of year

We'll know soon enough. All markets do up and down and so has the Dow, but it never goes down as much as then goes up which is why it's been riding up steadily for 9 straight months. It's an amazing thing, really. I've never seen anything like it, because it's broad-based, riding on all types of businesses and industry, it's not a tech bubble or a housing bubble, it's not a fed bubble, it's not a health care bubble, I frankly don't think it's a bubble at all, I think it's solidly based on industry revenues, earnings, sales, growth and net profits, the way it's supposed to be coupled with big events and big changes by Trump including deregulation which I forgot to mention earlier, that improve our economy's business climate that increases confidence, optimism and willingness to invest in these companies. All sound stuff seems to me.

I have to admit I feel the same way about Wall Street I do about the Federal Reserve. They don't act for the good of this country.

I'm not sure how revamping trade deals would give Wall Street a boost. As I said, it is a global entity. Trade deals usually benefit big business.

But I don't know --

nntrixie, I hate to be the one to break this to you, but no one has been acting for the good of this country for about 40 years, not Presidents, not Congress, not the Court System, not banking, not manufacturers, not retailers, not health care providers, not unions, not even 501 C 3 charities. We didn't get in this mess because of one group or a few prominent people. It was everybody. And for the past 37 years, the only person telling Americans the truth about what was happening to their country was ..... Donald J Trump.

I knew, because of the field of work I was in, but no one cared, they decided the best way to deal with the loss of industry was to start calling McDonald's manufacturing operations because they make and package food on-site at the restaurants ao they could use tax-exempt industrial revenue bonds to fund their new restaurants, and they adjusted the laws to allow it so they could count retail jobs at McDonalds as new industrial employment to justify their industrial and economic development offices and big salaries.

That goes without saying.

Oh, yes, the tax-exempt bonds.

I remember the first time I heard that tax free bonds were being issued in a city to build a new Wal Mart and Wendy's.

This was years ago, and I was very naive. I called a man I knew who owned a newspaper in a nearby town and he confirmed they did this.

He said, "People need to go to their city council meetings and see all the things they do for these corporations."

Not to be argumentative, it's just that I don't understand why Wall Street is going so strong, and it makes me a little antsy.

I hope it is true it is happening because they expect an upturn.

It's not just the expectation, the companies are doing well, have good revenues, increasing sales, solid assets and good management, this is the primary reason people buy a company stock, the second is the hoping the value goes up because of good economic conditions and government policies that fuel their primary core businesses. So it's both actual performance and financial condition plus the Trump Bump seeing and expecting beneficial policy changes like repeal of Obamacare mandates, tax cuts, and bringing their money and some of their manufacturing back to the states.