U.S. stocks climb; blue chips at 3 1/2 year high

[Bono71]

Didn't see posted.

http://biz.yahoo.com/cbsm-top/041221/8aec764ef300f6a4464882f9fdf353d6_1.html

[Florida_Geek]

1. What was before the lunch time bombing in Iraq.

I would expect it to go down tomorrow.

[movonne]

2. Not if any are into the war paraphenalia....

[Bono71]

3. Let's hope not.

[zann725]

4. The only way THAT could've happened...is if they "raided" Social Security

trust, and already started investing it. I am NOT kidding.

This is VERY suspicious. I really wouldn't be surprised if they went ahead BEFORE Congressional approval. After all, this is NOT about 'representation' any more.

[Carl Brennan]

5. Is this due to the record opium crop in Afghanistan?

That's pretty much the claim of the former Assistant Secretary of Housing during the Bush administration, Catherine Austin Fitts.

See Narco-Dollars for Beginners "How the Money Works" in the Illicit Drug Trade Part I <http://www.narconews.com/narcodollars1.html>

Lest you think that my comment about the New York Stock Exchange is too strong, let's look at one event that occurred before our "war on drugs" went into high gear through Plan Colombia, banging heads over narco dollar market share in Latin America.

In late June 1999, numerous news services, including Associated Press, reported that Richard Grasso, Chairman of the New York Stock Exchange flew to Colombia to meet with a spokesperson for Raul Reyes of the Revolutionary Armed Forces of Columbia (FARC), the Supposed "narco terrorists" with whom we are now at war.

The purpose of the trip was "to bring a message of cooperation from U.S. financial services" and to discuss foreign investment and the future role of U.S. businesses in Colombia.

Some reading in between the lines said to me that Grasso's mission related to the continued circulation of cocaine capital through the US financial system. FARC, the Colombian rebels, were circulating their profits back into local development without the assistance of the American banking and investment system. Worse yet for the outlook for the US stock market's strength from $500 billion - $1 trillion in annual money laundering - FARC was calling for the decriminalization of cocaine.

And Narco-Dollars for Beginners "How the Money Works" in the Illicit Drug Trade Part II <http://www.narconews.com/narcodollars2.html>


Well, if the Department of Justice is correct about $500 billion-to-1 trillion of annual money laundering in the US, then about $20-40 billion should move annually through the Philadelphia Federal Reserve District.

Assuming a 20% margin for the BIG PERCENTAGE profits and a 20 times multiple on the stock of the companies that Dave and his investors and banking partners were using to launder the money, let's look at how much of the stock market value would be "addicted" to the drug and money laundering profits flowing through the Philadelphia area.

The total stock market value generated in the Philadelphia area with $20-40 billion in narco retail sales would be about $80-160 billion. If you add all the things you could do with debt or and other ways to increase the multiples, and you could get that even higher, say $100-250 billion.

Assuming that there are 3 million people in the greater Philadelphia area, the total stock market value generated would average anywhere from $27,000-to-$85,000 per person. Imagine what would happen to the economy in Philadelphia if this stock market value suddenly disappeared because all the teenagers in Philadelphia stopped dealing or buying drugs?

[leesa]

6. Of course stocks are up. With all the layoffs, offshoring, tax evasion

and cuts to workers benefits, there is no overhead

[Skittles]

7. you got it leesa

my company's stock went up following mass layoffs

[Bono71]

8. If it benefits shareholders, what are companies supposed to do?

Serious question.

[AP]

9. Vote Democartic. Making money off of low taxes and concentration of

ownership is bad for the economy. It's killing the middle class. These corps would make more money by accepting a smaller percentage of a bigger pie. But what they're doing is getting a bigger percentage of a smaller pie.

[Bono71]

12. Agree with what you write...without a middle class no one wins,

and I think democrats have better ideas to foster its growth.

However, it would be a breach of a board's fiduciary duty to its owners (shareholders) to not cut costs (including labor) when appropriate.

[AP]

14. I agree with that. But it would also be digging your own grave to vote

for Republicans who are going to destroy the economy.

They should be voting for politicians who will change the law so that the most profitable expression of their fiduciary obligation to shareholders is NOT digging their own grave.

That's why I said they should vote for Democrats and not, "they should stop making profit."

[AP]

17. I know. That's why I said the solution is the way you vote and not

blaming corporations for doing what the law allows them.

[Bono71]

22. Agree, we can't (nor should we) allow ourselves to think

corporations will act in the best interests of anyone other than sheir shareholders. Indeed, it is against the law for them to put other agendas ahead of shareholder return.

The problem for shareholders is the when the board and management put their own wealth above shareholder return.

[AP]

25. Yep. Another problem is the very undemocractic nature of

coroporate governance.

It would be nice if shareholders had more control of thecorporations they own. It seems like today owning a share does little more than inflate the value at which an insider can sell off shares aquired by ridiculously irrational options that should have been but weren't expensed.

[Bono71]

26. Well, I don't know...do we really want democratic corps?...

I don't think so. The Board is there for a reason. Let them do their jobs, if they need to be removed, the shareholders can call a special meeting to do just that.

[AP]

27. Ownership of stock should mean something.

Where do you draw the line in terms of giving shareholders meaningful control over hiring and firing the board and over major decisions made by the corporation?

I think the line is currently drawn way to low. I'm not saying that every decision should be scrutinized by the shareholders. But there should be meaningful options when voting for board members, it should be easier to put amendments to the articles of incorporation up for a vote, and shareholders who challenge the status quo in a corp should be able to have excellent access to other shareholders and a real opportunity to state their case.

[Skittles]

10. you don't get it, do you?

that in the end it isn't the bottom line that matters. And you know what? I am just too tired and disgusted to explain it to you.

[Bono71]

11. No, I don't think you get it...

Shareholders want their investment to produce returns. It is not a company's responsibility to provide jobs to people, it is to provide returns to shareholders. Corporations are not charities.

If the current economic climate does not provide jobs for people, don't look to corporations to provide hiring simply to provide hiring. Look to the regulators of business (the gubmint) to try to foster a condition that will provide growth and/or education and training that will help people find work. That is what Clinton was all about.

[Skittles]

15. we aren't gonna get it from this piece of crap misadministration

nt

[Bono71]

21. That we both agree on.

[DownNotOut]

13. Americans are doing their

duty and spending every last cent and then some... One of *'s greatest war crimes is to tell us all to keep spending! Poor and impotent, thats the way they likes us...


DownNotOut

[SOS]

16. News clip....

"Many are looking for technical corrective reactions from time to time, but do not expect these to disturb the upward trend for any prolonged period."

- Wall Street Journal, September 4th, 1929

[VegasWolf]

19. News clip 2:

Buy Yahoo at 300, if you missed buying at 280, it's still a great price.

- Wall Street Journal, August 14th, 1999

[Bono71]

23. I bought at 80 :(

[VegasWolf]

18. Yes, traditional year end run, let's hope the dollar dips against

the euro as the market improves over the next couple of months.
Then sell and get the hell out of US dollars before the bear
trap closes.

[Bono71]

24. That's what I was thinking.

[denverbill]

20. Wow. Maybe in 4 more years it will reach where Clinton left it!

What an economic miracle worker that bozo is.