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View Diary: Private enterprise shackled by Obamunism, aka Dow hits 15,000 for first time (153 comments)

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  •  A lot of us are investors whether we know it ... (4+ / 0-)

    ... or not. The market has much to do with "real life."

    If we are fortunate enough to have pension funds or 401k's  (I grant you, this is only a part of employed America, but it is a part) or savings keyed to market rates, we are beneficiaries of a good and rising market. I don't resent my neighbor who is doing well in "the market."

    And importantly, it's not just the 1%. Business and trade determines the strength of the American economy. Rail as some of us do at "corporatists," those who go to the market for money to put into business (or measure their business incentives by their market price, which is almost every business!), "their" market is our market.

    So Yes, I'd like the market strong and getting stronger.

    And Yes, I'd like a Secretary of Commerce who benefits from the market and business health, too, even if she is quite well-to-do and doesn't look like you or me.

    I think Jed's point is that an Obama administration is not the scourge of business, at least as measured by what business thinks is the most key determinant of its success. That's good news!

    We know there are other indicators of economic health that are far more important to us, day by day, but I'm not going to denigrate good news for the economy as a whole. We just need a lot more of it!

    2014 IS COMING. Build up the Senate. Win back the House : 17 seats. Plus!

    by TRPChicago on Fri May 03, 2013 at 08:57:25 AM PDT

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    •  What good are strong finanacials (1+ / 0-)
      Recommended by:
      david78209

      if there isn't anyone who can afford to buy the nonexistant products no one is making (here) the media hype says we can't live without?  Doncha just luv crass consumerist economics?

      •  people need stuff (1+ / 0-)
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        david78209

        every year.  companies make stuff, sell it to people.

        good strong financials means better retirement accounts for those that have them.

        for those that don't have them, many could without really losing that much take home pay.  

        there are though still way to many who are below those thresholds.

        -You want to change the system, run for office.

        by Deep Texan on Fri May 03, 2013 at 09:07:09 AM PDT

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    •  it is a myth that "the market" is "democratized" (1+ / 0-)
      Recommended by:
      david78209

      and that "we all" have a "share" in it through 401ks and pension funds.

      The reality is that 60.6% of all financial securities in the US, 62.4% of all business equity, and 38.3% of all corporate stock, are owned by the 1% richest individuals.  

      Well over two-thirds of all Americans own no financial securities or stock at all--including IRAs, 401ks, pension funds, or investments.

      The market was, is, and always will be, a game for the rich.

      •  Even if we don't directly have investments, (1+ / 0-)
        Recommended by:
        david78209

        ... many of us are participants in the market. Even if we're relegated to the numbers you give for the 1%, some of the rest is us.

        I don't resent "the rich" for having more than I have.

        Some of them - too darn many, perhaps - are malefactors of great wealth. Yes, because of what the wealthy have, they get attention and heft that by their works alone, they might not otherwise deserve. Beyond doubt, there is a maldistribution of wealth in the country that has not been the case to this extreme in many decades. America is not working well enough for significant numbers of her citizens.

        But none of that makes the stock market, as commenters have argued here, a casino or a game. And it doesn't make the success of the market worse for the rest of us.

        2014 IS COMING. Build up the Senate. Win back the House : 17 seats. Plus!

        by TRPChicago on Fri May 03, 2013 at 12:48:09 PM PDT

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        •  The really, really rich may like hard times (0+ / 0-)

          In hard times, they might drop down to just being really rich, but they may enjoy
          ---being able to 'get good help' because of high unemployment
          ---being able to get a seat right away at their favorite restaurant
          ---having a beach all to themselves at a resort because so few others can afford to go there
          ---not having to rub shoulders with the folks Mrs. Romney dismissed as "You people."

          We're all pretty strange one way or another; some of us just hide it better. "Normal" is a dryer setting.

          by david78209 on Fri May 03, 2013 at 02:01:39 PM PDT

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