Closing Bell Rings on Lackluster Year

[Rose Siding]

By Jerry Knight
Washington Post Staff Writer
Friday, December 30, 2005; 6:03 PM

The closing bell clunked today as the stock market ended one of its most lackadaisical and lackluster years ever.

The Nasdaq Stock Market composite index gained just 1.4 percent over the past 12 months -- the smallest annual move since that index was invented.

The Dow Jones industrial average was down 0.6 percent for the year, setting another record for going nowhere.

The Standard & Poor's 500 stock index recorded a 3 percent gain, which means the average stock did better than either the blue-chip Dow or the tech-heavy Nasdaq. Still 3 percent--4.5 counting dividends paid by the S&P stocks--was a paltry payoff considering investors could earn more than 4 percent on certificates of deposit or government bonds......

http://www.washingtonpost.com/wp-dyn/content/article/2005/12/30/AR2005123001151.html

[Warpy]

1. Pretty amazingly rotten performance

but it would be a lot worse if the housing bubble hadn't started a slow collapse about 6 months ago. Money that might have gone to real estate speculation now has noplace to go but short term bonds or to stocks.

Once again, we have solid proof that lavishing the country's wealth on the richest has a negative effect on the larger economy: increasing unemployment, stifling the consumer market, and causing a stagnant stock market.

Supply side economics does not work, will never work.

The only question is what it will take to slay the monster once and for all.

[SpiralHawk]

2. Bring on the Massive Republican Year End Executive Bonuses !

It really doesn't matter what happens to America, as long as the fat-cat Republican Oil & Munitions Cabal makesa HUGH WHOPPING profit.

So you do in fact have lots to be thankful for, all you perfectly adorable Little People in the office cubes and factories, as you scrawl out checks to pay your MASSIVE home heating bills.

Otherwise, we can't be bothered to trouble our Beautiful Minds about you. Just pay up quick ...

[0007]

7. The market is no better than pulling a slot handle

Thumbing their noses at Wall Street strategists who encouraged their clients to buy stocks by predicting a "Santa Claus" rally, the traders who rule the market used the last week of the year to cash in what few profits they were able to make. In the process they drove down the market some more, leaving anyone still holding stocks with little to show for the year.

[modrepub]

4. I'm surprised

that has worked as well as it has to this point. When this first started I was convinced the upper crust couldn't keep the economy going by itself for long at all. I guess counting the talking heads on Blomberg etc. among the chosen few helps keep things afloat. Not sure how much longer this bulls*** spewing crew can convince themselves that 2-4% GDP growth resulting from deficit spending and rising fuel costs can be a good thing. Most of this is counterweighted by inflation (which is underestimated). The rest of us are struggling to maintain ourselves.

[sandnsea]

5. Gold ends 2005 up 18%

http://www.amergold.com/newsroom/bmu.shtml

Plus that little oil game after Katrina. The very wealthy never lose. Not ever.

[0007]

3. No fucking shit....guess where the money is going? Cough cough

did I hear someone say those poor CEO's?

[0007]

6. bbtft

[kentuck]

8. Dow Closes Down 67, Ends Year in Negative

http://channels.isp.netscape.com/pf/story.jsp?flok=FF-APO-1333&idq=/ff/story/0001%2F20051231%2F0009027575.htm&sc=1333

<snip>


NEW YORK (AP) - Investors marked the last trading day of 2005 Friday with the same conundrum they faced all year - trying to find a good reason to buy stocks and coming up short. Stocks fell to their December lows, and the Dow Jones industrials finished the year with a loss.

With little news to spur buying, stocks fell as investors consolidated their meager profits on the year. As a result, the Dow suffered its first down year since 2002, although the other major indexes posted modest gains for 2005.

This year was marked by skyrocketing energy prices, a slowing economy, hot-and-cold inflation threats and the Federal Reserve steadily raising interest rates - all of which made investors nervous over the state of the economy and kept stocks volatile but ultimately little changed since the end of 2004.

....more

[napi21]

9. Isn't the economy GREAT???

I know that's what I keep hearing on the MSM and from King George all the time, isn't it?

Weren't they saying the really good economy was all fake before this?

Hmmm.....

[still_one]

10. well so much for the Santa Claus rally

[ixion]

11. whooo boy... look at that economy cooking along

:eyes:

The stock market (something they could manipulate) has been their ONLY excuse for being able to claim a 'roaring' economy. And, gee, lookie there. The stock market is actually not on the move, afterall.

Go figure.

It's not on the move, because the economy actually sucks a**, and if there were an honest MSM outlet here in the US, they'd speak truth to power and say just that, IMO.