General Discussion
In reply to the discussion: Dow Jones Industrial Average hits 14,000 [View all]Sekhmets Daughter
(7,515 posts)If confidence is all it takes to fix what ails this nation and its economy, why hasn't it worked before? One could argue that since the crash of Oct. 19, 1987, there has been nothing but confidence influencing the market, with just a few minor setbacks, until, of course, the credit crisis. The DOW climbed back from 1,738 to its present levels. During that entire period we saw wages flatten and middle and working class Americans go into debt to sustain a lifestyle they had been raised to believe was theirs. We've watched the cost of everything rise while the rich became not only richer but more powerful and more indifferent to anything but their own desire for ever increasing wealth.
Sorry, but I can't drum up any enthusiasm for a market that has demonstrated its willingness to cannibalize our society for its own purpose.