Democrats should do no celebrating on the economy

[AllentownJake]

Until we go from job losses to job creation there should be no celebration. There should be no celebration till foreclosure and default rates return to normal.

Let us be clear what it took to get to DOW 10,000. Billions in taxpayer money and a lot of people lost their jobs so companies could reduce capacity to meet reduced demand and keep themselves profitable. There was also a change in accounting rules that allowed companies to be able to hide some real losses on their balance sheets.

Let me be clear, the average American has no understanding of economic indicators and whether they are lagging or not. To most Americans there really is one economic indicator that matters employment.

Things maybe turning the corner. It is OK to be optimistic, however the last thing we want to be is the economic equivalent of George W. Bush declaring Mission Accomplished when we have a long way to go.

[JuniperLea]

1. The market's flirtation with the 10k mark...

Doesn't really mean much... not yet. We're seeing trades and profit taking as if the world were all day traders... I don't think we've seen the true support level yet. We danced around 9700 for a long time, and that was one of the earliest numbers to be floated about as a solid support level.

Nothing is solid yet. We're still very much in flux. Don't let the talking heads on the TeeVee fool you.

That said, being that we aren't currently without a stock market at all is miraculous. That our money is still accepted anywhere is miraculous.

I don't think people really looked into the abyss and saw where we have been headed.

[AlinPA]

2. No arguments here. I haven't heard any, but here's how I expect it will go:

1. Media crows about Dow 10000.
2. Media claim that it was the Democrats who are crowing.
3. Republicans repeat #2.
4. Market goes down
5. Media and republicans say Democrats were wrong in crowing about it.

[rucky]

3. Yep. We're celebrating Wall St., and Boehner's talking about jobs.

Even he gets it (this time).

[spanone]

4. i'm celebrating my investments going up and my retirement funds increasing.

[AllentownJake]

5. That's fine

but be diligent. Don't be afraid to sell if the indicators start to change.

[gratuitous]

6. No, fixing the economic disaster isn't done yet

But it's an encouraging sign, and celebrating a relatively meaningless milestone doesn't mean (I don't think) that everyone is all satisfied that the job is done, and the economy's just purring along. But it's okay to mark the occasion.

Okay, occasion marked. Let's get back to work.

[Better Today]

7. Having been unemployed for nearly a year and no hope in sight, I do believe

that the President has essentially said the same thing. Another hopeful sign that he "gets it" so to speak. Based on my age, occupations, etc. I will likely be one of the last to be hired, my panic level regarding the jobs situation isn't being soothed at all by the current market successes. I'm trying hard to tell myself that history suggests that the market must recover first, then jobs will come back. Unfortunately, I'm really having a hard time buying it when I'm still seeing the same abuses on wallstreet and in the banks and in insurance, which even if enacted to my liking will likely not even start up for 3-5 years.

[damntexdem]

8. Right-o. Won't do.

Don't feel like celebrating so long as employment is so far down.

[HiFructosePronSyrup]

9. OK, I'll keep flogging myself with birch branches.

[TwilightGardener]

13. That's the spirit!

[emulatorloo]

10. Who's "celebrating"? Most I have heard is some cautious minor optimism that things are starting to

get a tiny tiny tiny bit better.

[TexasObserver]

12. +1

[nadinbrzezinski]

11. The only thing to celebrate is that we seem to have hit

bottom

At that point there is just one direction to go, and that is up.

But caution is in order still.

[Neecy]

14. Unemployment in my county is close to 11 percent...

It's so bad that big notices went up all around town last month pleading for people to donate to a drive to collect school supplies. The list of what was needed was pretty long.

I picked up a few backpacks and some other stuff on the list and dropped it off at our community center. My little pile of stuff was almost all that was there. I was told that no one can afford to donate. I went out and got a few more things. These are kids going without, and it's their education. But everyone's hanging on by their fingernails.

If anyone is celebrating, they're deluded.