NewsLo
NewsLo
  • Home
  • Business
    • Accounting
    • Advertising
    • Branding
    • Career
    • Cyber Security
    • Entrepreneur
    • Jobs
    • Management
    • Marketing
    • Non Profit
    • Sales
    • Search Engine Optimization
    • Web Design
  • Finance
    • Banking
    • Bankruptcy
    • Budgeting
    • Credit
    • Debt
    • Estate Wills & Trusts
    • Home Improvements
    • Law
    • Loans
    • Personal Finance
    • Taxes
    • Shopping
  • Investment
    • Crypto Currency
    • Gold & Silver
    • Hard Assets
    • Real Estate
    • Retirement
    • Stocks & Bonds
    • Trading
  • Real Estate
    • Buying
    • Selling
    • Commercial Construction
    • Construction Law
    • Home Improvement
    • Loans
    • Property Management
    • Real Estate Laws
    • Rental Property
  • Insurance
    • Auto Insurance
    • Commercial Real Estate Insurance
    • Crop Insurance
    • Dental Insurance
    • Disability Insurance
    • Health Insurance
    • Home Owners Insurance
    • Identity Theft Protection
    • Insurance Law
    • Investment Insurance
    • Life Insurance
    • Pet Insurance
    • Renters Insurance
  • Contact Us
  • US

As Stock Prices Soar, Investors Convinced “This Time Will be Different”

  • January 30, 2013
  • NewsLo
  • No comments
  • 2 minute read
Total
0
Shares
0
0
0

NEW YORK — With stock prices soaring, there is a renewed spirit of optimism blooming on Wall Street, as many investors believe markets will remain bullish indefinitely despite historical trends which suggest they are terribly, tragically mistaken.

“I know this has happened before and it’s been short-lived,” Steve Newman, a trader with Goldman Sachs told Newslo. “But this time it feels different, you know?”

“I mean, just look at this line,” Newman said, pointing to a graph on his smartphone. “It’s almost vertical, for Christ sakes. How could it not keep going up?”

On Monday the Dow Jones Industrial Average closed just below 14,000. Last week, the index—which is widely viewed as an indicator of the market’s health in general—reached its highest point in five years, which to some suggests that everything is going to be good from now until the end of time.

“I don’t see any reason why it won’t continue going up!” trader Ben Buhler said by phone from the floor of the New York Stock Exchange. “It’s my understanding that numbers are theoretically infinite. If that’s right, who’s to say that by next week the Dow won’t be up to, like, seventeen gazillion or something. Think about it: seventeen gazillion. We’re all gonna be rich!”

Some experts believe the recent bout of exuberance is irrational. “Markets always contract eventually,” said economist Paul Krugman, a Nobel laureate. “Sometimes it happens quickly, dramatically, and ‘out of nowhere,’ as it did in 2008, when the Dow fell nearly 800 points in a matter of hours, obliterating huge amounts of wealth, destroying millions of retirement and pension plans, and plunging the world economy into a devastating recession.”

Trader Kevin Bell called Mr. Krugman a “total party-pooper.” “Were mistakes made in the past? Yes,” Bell said between guzzles of champagne. “We got too excited, and that made us sloppy, and we paid the price. But we learned our lesson, I pinky swear! Trust me, we’re gonna be careful this time.”

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • economic joks
  • economic satire
  • humor and stock markets
  • news humor and satire
  • stock market
  • stock market increase
  • Stock Markets
NewsLo

Previous Article
Al Jazeera America Vows to Deliver No-Nonsense Coverage of Kardashians and Cute Kittens 1
  • World

Al Jazeera America Vows to Deliver No-Nonsense Coverage of Kardashians and Cute Kittens

  • January 30, 2013
  • NewsLo
View Post
Next Article
New Orleans Residents Warn Still-Struggling Sandy Victims not to Get Their Hopes Up 2
  • US

New Orleans Residents Warn Still-Struggling Sandy Victims not to Get Their Hopes Up

  • January 30, 2013
  • NewsLo
View Post
You May Also Like
best franchises to own
View Post
  • US

5 of the Most Lucrative & Best Franchises to Own in 2020

  • NewsLo
  • March 16, 2020
ted cruz religion refugees
View Post
  • Featured
  • Politics
  • US
  • US-Feature

Ted Cruz News: “Helping Texans Is Not Like Helping New Orleans, Hurricane Sandy Was Righteous”

  • NewsLo
  • August 28, 2017
rand paul news
View Post
  • Featured
  • US
  • US-Feature

Rand Paul: “We Don’t Care If Trump Is Found Guilty Of Cheating During Election, He Legally Has The Power To Pardon Himself”

  • NewsLo
  • July 25, 2017
ken ham tax
View Post
  • Featured
  • US
  • US-Feature

Ken Ham: “God Owns All Of Earth And Everything On It Anyway, So Why Should He Pay Tax To Himself? It’s Pointless”

  • NewsLo
  • July 23, 2017
Trump: “Pastor Robertson Is A White Humanity Lover And The Fact That He’s Not Allowed To Say That About Me Is A Violation Of Religious Rights Freedom” 3
View Post
  • Featured
  • Religion
  • US
  • US-Feature

Trump: “Pastor Robertson Is A White Humanity Lover And The Fact That He’s Not Allowed To Say That About Me Is A Violation Of Religious Rights Freedom”

  • NewsLo
  • July 14, 2017
Trump Compares Ivanka To Syrian Children: “She’s Also Suffered A Lot As My Daughter, Had To Move Between Countries All The Time Just Like Them” 4
View Post
  • US
  • Latest Lies
  • Today's Headlines
  • US-Feature

Trump Compares Ivanka To Syrian Children: “She’s Also Suffered A Lot As My Daughter, Had To Move Between Countries All The Time Just Like Them”

  • NewsLo
  • July 9, 2017
allan parker
View Post
  • Featured
  • US
  • US-Feature

Allan Parker: “God Intervened And Prevented Trump’s Mother From Having An Abortion So He Would Become President And Put A Stop To It”

  • NewsLo
  • July 8, 2017
C-SPAN Caller Calls To Outlaw Single Moms Because They Are “Taking Us Back To Caveman Age When Men Just Bred Women” 5
View Post
  • Featured
  • Health
  • US
  • US-Feature

C-SPAN Caller Calls To Outlaw Single Moms Because They Are “Taking Us Back To Caveman Age When Men Just Bred Women”

  • NewsLo
  • July 5, 2017

Leave a Reply Cancel reply

You must be logged in to post a comment.

NewsLo
  • Today’s Headlines
  • Featured
  • US
  • Politics
  • World
  • Media
  • Sports
  • Privacy Policy

Input your search keywords and press Enter.