My sis found this on FB: "Now that the Dow is at an all time high ...

[JDPriestly]

96. Pensions are a rare thing for the baby boomers. Mostly only public employees have them in my

experience.

The problem is that the Dow goes up and down, and most people get caught in the downs. That is because they lose their jobs in the downs and then have to cash in or borrow against their 401(K)s and right when they can get the least for the stocks or funds or whatever they own.

People need to watch out that they don't get snagged by the mania of the boom/up stage.

The stock market is extremely bi-polar, and anyone involved in it needs to understand that. Do not think for one moment that the economy is good because the stock market is up.

The stock market rises when the rich feel so rich that they decide they can afford to gamble with their money. The rich are doing well.

That does not necessarily mean that the rest of us are doing well.

In California we have a tax surplus, a huge increase in taxes coming in this year. That is because in 2012, we passed a referendum measure that increased taxes, especially those of the rich. It is also because we elected a fairly liberal Democratic governor and have Democratic majorities big enough to pass good legislation in both our state houses. Wisconsin, Indiana, Ohio, the entire South, and other states, TAKE NOTICE. Democrats at every level of state government is a recipe for a balanced budget and increasing employment.

The problem with the stock market rising is that it probably will not mean increased federal tax revenues as long as we have a Republican House and Blue Dogs in the Senate. That is because a lot of the income the stock market will produce will be taken by investors in ways that are not taxed. The money probably won't be spent on Main Street USA.

And the rise in the stock market is unlikely to mean more jobs in the USA. In fact, it may mean that some businesses are showing higher profits at the moment because they have laid people off.

The rising suicide rate is a more useful measure of the health of our economy than the rising stock market.