Wall Street’s bulls have reason to celebrate: The Dow Jones industrial average has crossed the 13,000 mark for the first time since the financial crisis after European leaders reached a new deal to prop up the Greek economy.So, uhhhhmmm, yeah. Prepare yourselves for another 9 months of culture wars. I don't think there's much else to debate Obama on.
The Dow first crossed 13,000 in May 2008, but was battered down soon after when the mortgage bubble burst.
The blue chip index's latest surge has been driven by a stream of evidence signaling that the U.S. economy is on the mend. The Dow has risen 20% since hitting a recent low of 10,655.30 on Oct. 3.
The milestone reached Tuesday came after European leaders agreed to give Greece a $170-billion aid package in exchange for sweeping new cuts to the Greek budget. The deal is designed to give Greece continued access to the international bond market, but there are still big questions about how it will be carried out.
Investors have struggled to digest the import of the deal. The Dow wobbled Tuesday morning, entering negative territory in early trading before reversing course. Even after crossing 13,000 the index fell again, and was recently trading up 0.4% or 46.81 points to 12,996.68. Twenty of the index’s 30 stocks were trading in positive territory.
Question: Is this latest sign of positive economic growth actual good news, or is Obama somehow magically cooking the books on Wall Street too?!? Isn't a surging stock market actually bad for America? Isn't this just another sign that Socialism, Zionism, Obamaism, and Ismism is killing the country we all knew and loved?