Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

The Dow Jones hits the magic 30,000, as more stimulus looms and easing continues

% of readers think this story is Fact. Add your two cents.

Is it any wonder?

It’s the stated policy of both parties in the US – a rare area of consensus, indeed – that in the wake of the coronavirus crisis the economy needs to be stimulated, and that one way to do it is to print more US dollars.

That, of course, is a perfect storm for equities.

On the one hand there’s the promise of greater economic activity as the stimulus money floods into major sectors like construction. On the other, there’s the likelihood that each individual dollar will be less valuable, since there will be so many more of them about.

And if cash isn’t going to be worth as much as it was before, switching out into hard assets is the only thing that makes sense.

When the economic outlook remains uncertain, this dynamic tends to involve switching into safer hard assets like gold and property. And there has been much evidence of this in recent months.

But with the US election inching ever closer to a conclusion, and with news about coronavirus vaccines continuing to hit the headlines the mood has grown more bullish.

Safety is no longer the watchword. Anticipating the recovery is. And what everyone anticipates is a recovering global economy in which cash is worth less than it used to be.

It’s a short hop from that logical sequence to purchasing stocks and shares, and, since the market has already been enduring or enjoying (depending on your economic persuasion) more than ten years of stop-start easing and stimulus, following the crisis of 2007, it’s hardly surprising that it’s now reaching record highs.

No surprise either that the Dow Jones record was claimed by each side of the US political divide as vindication. Trump thanked himself and the American people for making it happen, while the Biden side argued that the market was showing support for the prospect of a Democratic Presidency.

The mood of optimism spread across the world. In Japan, the Nikkei rose 1.7% to a new 29-year high.

Investors have also been cheered that Janet Yellen, the former head of the US Federal Reserve, is in line to become the next US Treasury secretary.

Yellen is remembered for the relatively steady hand she kept on the tiller during much of the Obama administration, although some critics argue that her age ought to be a disqualifying factor, and that what’s known as the “boomer” generation continue to monopolise high level jobs at the expense of all others.

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.