Among the advancers were… Apple Inc. (AAPL $322.37, +$2.22, +0.69%), Google Inc. (GOOG $589.38, +$11.02, +1.91%) and Oracle Corp. (ORCL $29.10, +$0.37, +1.28%),” Crum reports.
Full article here.
MacDailyNews Take: Another new all-time intraday high for Apple!
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its only 10:08…. let’s not draw too many conclusions too early in the day….
Ugh…so the plan is to not pay off any debt at all?….but more tax cuts for our rich puppetmasters? this country is so phucked….
No doubt, if stocks had declined, MDN would not have reported “stocks declined as a result of continuance of failed bush policies”.
Hey, MDN, I saw the most remarkable thing this morning! I heard a rooster crow, and then the sun rose! I therefore conclude that the rooster made the sun rise! Same correlation-implies-causation logic from this article.
(and to keep it apple related, apple was already on its way up)
Hey I get to keep the profits so I can invest overseas where people work for nothing.. thanks GW and OB.
reagan / bush(s): “good”
carter / clinton / obama(oprah): “bad”
@ Mike,
How about the country living within its means instead of taking more and more of OUR money for a change. Do you pay any taxes? If you do, then I’d think the government running up its “credit card bill” unchecked should bother you and everyone else that works hard for their money.
It’s the ENTITLEMENT MENTALITY in this country that’s “phucked!”
Misguided and ill-informed Libs:
Tax revenues increased after the Bush tax cuts as the economy began booming again.
In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.526 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.
Look it up, knee-jerkers. Learn something for a “change.”
For those above with reading comprehension issues:
MacDailyNews didn’t report that the current rally is being “fueled by reaction to a deal to extend Bush-era tax cuts for another two years.”
Rex Crum did for MarketWatch.
That’s what those funny little quotation mark thingies signify.
Either way, Obama was planning more stimulus, regardless of how it happens. They were only arguing about which segment of the population would get the money.
Deficit reduction was never on the table.
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Here is a thought: maybe stocks are not really going up in value but the dollar is sinking. That is probably why gold, silver, and oil are also moving up.
Just a thought before we break out the champagne.
Not the right forum for this question, but are the home energy tax credits being extended as well? I can’t find anything specific about this.
(I’ve already used my $1500 tax credit for 2009-2010 and now I’m holding off until 2011 for that new metal roof job, pending renewal of the tax credit.)
The Obama Mistake: I assume you are suggesting no banks or car companies should have been bailed and no stimulus funds should have been extended to anyone? Not that it matters, but I do recall the bank bailouts being started late in the Bush administration. I am just trying to understand your point.
@ The Obama Mistake
Look it up… speculative bubble, wars for oil, crony contracts… spent down the surplus, emptied the coffers, fire up TARP
then claim we need to live within the means…classic R values…
Tell the truth for a “change”
If the Bush tax cuts were so important and necessary, why didn’t they work for Bush? Why havent they done anything for anyone except the rich?
Face It, USA. Your binary political system has enabled a kleptocracy that uses cliches and demagoguery to get you to vote against your interest.
@uh huh
MDN is quoting an article in MarketWatch.
We are so screwed…
@ The Obama Mistake
Clinton went from a 344 Billion republican created dept, balanced the budget, (something Roney and H.W. could not do) and left office with only a 18 Billion dept. Baby Bush went from 18 Billion to 1,017 BILLION. Plus got every country in the world pissed off at us.
http://www.lafn.org/gvdc/Natl_Debt_Chart.html#DownloadChart
Both points below are true and the Liberals or “Progressives” (or whatever the socialists are calling themselves today) hate having the facts presented almost as much as they hate normal Americans (as evidenced by their irrational hatred of Sarah Palin):
• Tax revenues increased after the Bush tax cuts as the economy began booming again.
• In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.526 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.
One more fact:
• Gallup: Bush’s job approval now higher than Obama’s
Why do some people have an irrational hatred of Sarah Palin?
Status-anxiety occurs when a person believes that their position in a real or imagined social hierarchy is threatened. Leftists react emotionally to Palin because of the threat she poses to their own individual sense of status. All their other arguments are just put forth to rationalize that emotional reaction.
In short, it is not the ideas she puts forth, its that someone like her is significant at all.
Status-anxiety occurs most strongly when a group has no meritorious claims to its social position. The classic example would be the pre-WWII European aristocrats who inherited their wealth and position, and who therefore had no right to status in an industrial society other than from cultural inertia. Closer to home, the most vicious white racists were poor and working-class whites who knew full well that only racism kept them from being on society’s bottom status tier. As long as all non-whites were judged inferior to any white person, a poor white person still had some status. They bitterly resisted losing what little status they still had.
Leftism at its heart holds that a small percentage of humans have a vastly superior understanding of everything compared to ordinary people. The point of leftism is to empower these superior individuals to impose their superior understanding upon society by the force of the state. Leftists must be viewed by themselves and others as superior human beings if they are to have a claim to power and status.
Palin’s success stabs them in the heart of their anxiety. If Palin can be a successful political leader, what does that say about the leftists’ claims of intellectual and moral superiority? If people don’t just instantly assume that leftists are smarter and better than everyone else, why would people trust a leftist government to make so many decisions about the people’s live, e.g., medical care?
That is why leftists see Palin as a genuine and significant threat of unusual magnitude. In the emotional thinking of leftists, she is a personal threat to everything each individual leftist has attained in life. They feel a sincere, visceral sense of danger about her because she attacks the very core of their egos. They feel the same hatred towards Palin that the European upper classes felt towards the upstart middle-class. They feel the same hatred that poor whites felt towards non-whites. They feel that way for the same reasons. If she succeeds, worse, if she is right, then they become nobodies.
As long as she is viewed as a significant political figure, the left’s obsession with Palin will never wane because it does not spring from rational roots. She threatens something too deep and too profound in a political subculture built around the belief that a small percentage of human beings have a vastly superior understanding of the world compared to all the rest. – Shannon Love, Chicago Boyz, September 10th, 2010
November 6, 2012 will be here before you know it and “soon we’ll all be dancing.”
Borrowing another $700 Billion for a tax schedule that didn’t make sense a decade ago makes even less sense now.
I care not what party or political bent you hold to, but reming you that our Federal Government, many of our states, the majority or our counties & cities are in deep debt or are running massive deficits. A significant portion of last year’s stimulus was block granted to state and local governments to prevent massive layoffs of public safety and school district workers- money that is largely spent.
When one adds up the total debt of all levels of government, corporate debt, personal debt and worthless assets sitting on the books you see that we are on the very edge of an abyss. When states and localities start defaulting on bonds Uncle Sam will have no wiggle room for a bail out and the cascading effect could be damned ugly- for a very long season.
As an Apple shareholder I am glad to see the stock rise but see this tax deal as bad news in the long term. Unemployed, broke and hungry people won’t be buying many iPhones/iPads/iPods/Macs.
“but more tax cuts for our rich puppetmasters”
And that is where you start your mistake, in thinking the ‘rich’ are getting a tax break.
No one is getting a tax break. The tax rate will simply stay the same.
For EVERYONE.
Now that businesses can see something to make plans with, maybe they can get back to running their business instead of worrying with each decision how it could be impacted by several different scenarios in the tax system.
It’s hard to hit a (moving) sales target….
@First
“… its that someone like her is significant at all.” Nailed it. Congratulations, you got something right for once.
Verbosity and repetition does not make a statement true. Tax revenues may have increased, but spending increased faster under a GOP-dominated adminstration and Congress. That’s called tax cut and spend. It didn’t work for Reagan and it didn’t work for Bush. The current deficits are a Bush legacy far more than they reflect the consequences of policy decisions made during the current administration.
You seem to think that everything is binary – what you believe and everyone else who is wrong. The fact is, many people have developed a well-considered and rational set of beliefs that appear to be well beyond your limited comprehension. I am a fiscal conservative – too bad that the GOP hasn’t been fiscally conservative in practice since 1980.
@Towertone: corporate tax rates and rules haven’t appreciably changed since before the 2008 meltdown. No company i have ever worked with has substantially changed its business plans based on the nominal personal income tax rate.
It’d be wiser to pay off the federal debt, because it is likely that dollar depreciation will erase any tax savings we think we’re going to have. No foreign investor thinks that the USA has the balls to pay off its debts, which is why industrial investments in the USA continue to dry up, as they have been for decades.
“corporate tax rates and rules haven’t appreciably changed since before the 2008 meltdown”
Not speaking solely on the corporate level, but on small businesses and also the demographics they cater to. Consider real estate and sales to investors. Newspapers and ad space. Car dealers. Higher tax rates affect all of these in some form.
But you are right, on the corporate level, the biggest worry has been insurance coverage under ObamaCare and not taxes.
Unless you consider their sales….
From Scott Burns’ Houston Chronicle newspaper column of November 14: If we took all the money of the richest people in the country (not just income, but liquidating all assets), it would take about nine months to consume all the wealth of the Forbes 400 list. After that, we still need about $4 billion a day to fund the deficit. Perhaps the key is not more taxes for the rich, but less spending.