Stock market reaches record high in broke, destitute nation
by David Atkins
This country is broke. So, so broke:
NEW YORK--Blue chips continued to climb to new heights, pushing beyond the record levels reached in Tuesday's rally after a better-than-expected reading on the labor market.
The Dow Jones Industrial Average climbed 42.47 points, or 0.3%, to 14296.24 in late trading on Wednesday. On Tuesday, the blue chips soared 126 points to punch through a closing level not seen since before the turmoil that ensnared the markets for five and a half years. Dow industrials have climbed for three sessions in a row and five out of the past six.
The Standard & Poor's 500-stock index tacked on 1.67 points, or 0.1%, to 1541.46. But the Nasdaq Composite Index fell 1.77 points, or 0.1%, to 3222.36, pulled down by Apple and Google, which shed 1.3% and 0.9%, respectively.
We have no money at all.
In fact, we have no choice to come together in a bipartisan fashion to slash Medicare, Social Security, climate mitigation and investments in our nation's future. We certainly can't ask our job creators to pay for any of it:
Our lazy citizens just aren't producing enough to stay competitive in a global marketplace, so wages have to come down.
And our poor, bedraggled corporations just aren't making enough profits to justify hiring.
So, so broke. Whatever shall we do?
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