Smells Like Socialism

The Dow Jones closed today at its highest level since May of 2008, and the Nasdaq closed at its highest level since December 2000 during the last days of the Clinton Administration.

If we are indeed living under the tyranny of socialism as the Right Wing would have you believe, perhaps socialism isn’t so bad!

Stocks ended near session highs Thursday, with the Dow and Nasdaq logging multi-year highs, fueled by robust economic news and as the euro rebounded against the dollar following reports the euro zone central banks agreed to exchange their existing Greek bonds for new ones. [...]

The Dow Jones Industrial Average closed at its best level since May 2008, led by Microsoft and BofA. The blue-chip index is less than 100 points away from the psychologically-important 13,000 level.

The S&P 500 also finished sharply higher, while the Nasdaq logged its best closing level since December 2000.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell to close near 19.

According to Mitch McConnell, we’re living under “the Obama economy.” Woops!

I knew he would regret saying that at some point.

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  • http://twitter.com/tonyfaulkner tonyfaulkner

    But you know, it would be a million times higher if McCain had been elected. (Expecting this response is why I don’t argue with conservatives.)

  • D_C_Wilson

    Romney is saying that Obama actually made things worse for Detroit.

    Really?

    • http://www.facebook.com/people/Rick-Janes/607039439 Rick Janes

      Perhaps Mitt found that comment at the World’s Fair. ;)