May 21, 2007
...AND ONE ECONOMY TO RULE THEM ALL:
US markets buoyant as S&P 500 sets new high (Stephen Foley, 22 May 2007, Independent)
The dot.com bust, the post-Millennium economic downturn and the financial fears awoken by the attacks of 11 September 2001 - the stock market scars of all of them were finally erased yesterday as US shares passed their peak of more than seven years ago.Posted by Orrin Judd at May 21, 2007 9:01 PMThe S&P 500, the broadest measure of the US stock market and the one most closely followed by the professionals on Wall Street, passed its closing record level of 1,527.46, which it set on 24 March 2000.
In so doing, it has more than doubled in value since the nadir of 2003, when the US was planning its war in Iraq and the global economy was yet to emerge from the doldrums.
Which will come down by the end of TY 2008 - or is it 9(?) cos cap gains is going back up and it'll be sell, sell, sell.
Posted by: Sandy P at May 21, 2007 11:44 PMSandy, why do we little guys care? As mainstream financial analysts have instructed us, a booming stock market doesn't do us any good, it's only The Rich aka Republican fat cats, who benefit.
Posted by: erp at May 22, 2007 7:51 AMBecause I'm kissing my retirement goodbye.
Posted by: Sandy P at May 22, 2007 11:06 AMYes, I was being sarcastic. We all have a stake in the stock market.
Posted by: erp at May 22, 2007 1:47 PM