Word: dow
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...board meeting October 5. The uppercut? Microsoft prez Steve Ballmer?s must-have-had-a-few-too-many comments to a roomful of tech reporters about how tech stocks - even his - are way overvalued. Investors fell all over themselves to drop the Nasdaq 108 points, with the Dow in hot pursuit. With the sell-off still chugging along on Friday, are we in for a cruel, cruel Indian summer...
...collage of the dust jackets of leftist classics like Frantz Fanon's The Wretched of the Earth and George Jackson's Soledad Brother. It's hard to be a radical band in moderate times; it's hard to believe, in the age of the Backstreet Boys and a booming Dow, that music has meaning beyond SoundScan figures. Nonetheless, Rage's rock-hop music takes on racism and capitalism while also offering vocal support to Mumia Abu-Jamal and the Zapatista rebels. And with a Chicano singer (dreadlocked Zack de la Rocha) and an African-American guitarist (wizardly Tom Morello...
Shrinking dividend yields. Soaring price-to-earnings ratios. Bloated book values. Today that's so much hooey. The Dow is about to triple, argues a soon-to-be-released tract for our times--Dow 36,000 by journalist James Glassman and economist Kevin Hassett...
...hike in October, traders were wishing and hoping that the August unemployment numbers would show that inflationary pressures had already been brought to heel. The news was even better than they hoped: Unemployment was down, but not too much, and hourly wages were up, but by just pennies. The Dow shot up more than 200 points in the hour after the opening bell, then settled in at that plateau...
...course, much of the ballooning income gap is a product of compensation packages based on stock options translated into improbable wealth by the dizzy Dow, which could always tank and provide a dose of schadenfreude to those mired in class resentment. But no amount of carping by labor over the widening chasm between the earnings of the fat cats and the paycheck of the working stiff is likely to change the equation. Shaming the wealthy may be a longstanding pastime in Europe, but nobody apologizes for being rich in America...