I know everyone is excited that the stock market is rising. On Friday, the Dow Jones closed at 15,555.61. It seems reasonable, and in fact it would be remiss of me if I didn’t think it was at a great number. That being said, you have to ask yourselves, why is it so high. Unemployment is still at 7.6%, and under George Bush it never rose above 6%- and at one point it was a meager 4%!
Let’s put things into better perspective. Under President Bush ,we had a higher percentage of people working and less people on the government doll. In 2008, at the onset of the recession, 28.2 million people were enrolled in The most recent Supplemental Assistance Nutrition Program (SNAP). At the end of 2012, the total number was 47.8 million people. In fiscal 2008, the last full year before President Barack Obama took office, there were 58,794,000 Medicaid enrollees. A record 72,600,000 were enrolled in Medicaid for at least one month in fiscal 2012, up from 71,700,000 in fiscal 2011. And this is just scratching the surface.
How about underemployment?Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream. Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.
So then you ask, where is the money coming from. With less percentage of people working and more on the Obama doll, who is investing? The answer is simple. Under the guidance of Bernanke, the feds are printing the money which is flowing into the Stock Market. It’s not coming from people working more or a good economy. As you can see, the government has created that money which has inflated the Stock Market. So what is the final result? Collapse. The Stock Market has no firm base and like a sand castle, it’s bound to crumble under its own weight. God help our economy and the hard working Americans that are supporting it!