Stock market hits record high
#1
Stock market hits record high
The stock market hit a record high today.
Associated Press Link
However, not all is rosy. Apparently, all of those huge amounts of corporate profits are going to the richest among us.
Now I know what you're thinking. This can't be true. President Obama and the Democrats are socialists who hate individual profit and capitalism. You didn't build that!
But, apparently, Job Creators aren't creating jobs despite record profits because, well, they can make more money just keeping the extra worker productivity and working them harder.
Trickle down economics at work? More like trickle down onto your heads. Discuss.
Associated Press Link
However, not all is rosy. Apparently, all of those huge amounts of corporate profits are going to the richest among us.
In fact, the richest 1 percent of Americans have captured 121 percent of the income gains achieved during the current recovery, meaning everyone else has actually lost ground in terms of income since the economy bottomed out.
Now I know what you're thinking. This can't be true. President Obama and the Democrats are socialists who hate individual profit and capitalism. You didn't build that!
But, apparently, Job Creators aren't creating jobs despite record profits because, well, they can make more money just keeping the extra worker productivity and working them harder.
The path charted by United Technologies, an industrial giant based in Hartford that is one of 30 companies in the Dow, underscores why corporate profits and share prices continue to rise in a lackluster economy and a stagnant job market. Simply put, United Technologies does not need as many workers as it once did to churn out higher sales and profits.
Right now, C.E.O.s are saying, I dont really need to hire because of the productivity gains of the last few years, said Robert E. Moritz, chairman of the accounting giant PricewaterhouseCoopers.
At 218,300 employees, United Technologies work force is virtually unchanged from seven years ago, even though annual revenue soared to $57.7 billion in 2012 from $42.7 billion in 2005.
The relentless focus on maintaining margins continues, even though profit and revenue have never been higher; four days after the companys shares soared past $90 to a record high last month, United Technologies confirmed it would eliminate an additional 3,000 workers this year, on top of 4,000 let go in 2012 as part a broader restructuring effort.
Right now, C.E.O.s are saying, I dont really need to hire because of the productivity gains of the last few years, said Robert E. Moritz, chairman of the accounting giant PricewaterhouseCoopers.
At 218,300 employees, United Technologies work force is virtually unchanged from seven years ago, even though annual revenue soared to $57.7 billion in 2012 from $42.7 billion in 2005.
The relentless focus on maintaining margins continues, even though profit and revenue have never been higher; four days after the companys shares soared past $90 to a record high last month, United Technologies confirmed it would eliminate an additional 3,000 workers this year, on top of 4,000 let go in 2012 as part a broader restructuring effort.
Trickle down economics at work? More like trickle down onto your heads. Discuss.
#2
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Car forum not the right place for Economics 1, which is what the author of those quotes needs. The Associated Press is not where you go to get serious economic analysis. In addition, the DJIA is not a measure of economic prosperity of anything but those 30 companies; the country (and the world) is headed for the second downslope in the ongoing depression.
I'm tempted to just delete this thread for getting off on a silly foot but I'll leave it and stand back and see if some more idiocracy happens.
I'm tempted to just delete this thread for getting off on a silly foot but I'll leave it and stand back and see if some more idiocracy happens.
#4
Take control of your own money and your future. Don't trust the stock market unless you're informed.
I've lived under the rule "Don't go to Vegas with more money than you can afford to lose"
apply this to the stock market.
I've lived under the rule "Don't go to Vegas with more money than you can afford to lose"
apply this to the stock market.
#5
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Joined: Dec 2002
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From: Vegas, Baby, Vegas!!!
Vehicle: '14 Ford F-150
That's just my point... investing should require some effort so people actually do research. It should be less gamble and more educated decision. Personally, I'd love to see Wall Street vaporize and all businesses be privately owned, but since that's not gonna happen, make buying stocks alot more difficult than clicking a mouse.
#6
yeah, I meant to suggest my comments were meant to support your post. I agree.
guns. alcohol. less government. yay whitey. [/republican]
sorry, couldn't let the entire post agree with you
guns. alcohol. less government. yay whitey. [/republican]
sorry, couldn't let the entire post agree with you
#7
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Joined: Aug 2009
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From: Washington D.C.
Vehicle: Hyundai Tiburon FX
But, apparently, Job Creators aren't creating jobs despite record profits because, well, they can make more money just keeping the extra worker productivity and working them harder.
Exactly what's going on in the workforce. I hear it from everyone and every job, even my mailwoman is complaining.
Fire all the advanced, long-standing workers, hire a bunch of adjunct, young associate or part-timers to fill voids, put them all on furloughs, and make them work harder and longer. Don't hire, train, or promote anybody.
Forward.