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January 17, 2022

Wall Street Sees Growth, Highest Rates Since Bush Administration


So far 2011 has been filled with unfortunate events. The Middle East and North Africa have been ravaged with political unrest that has seen multiple countries overthrow their political leaders and governments in favor of more democratic and open minded systems where the voices of the people are heard loud and clear.

However, as a result of the political unrest in the oil rich states, the cost of crude oil hit record highs throughout the world. And as a result of that, gasoline prices skyrocketed everywhere. Food prices also rose due to the cost of transportation and production being increased cause of the increases in cost of gas and oil.

But in America, while the economy seems to be dipping for the middle class, on Wall Street it is doing great.

Tuesday, across the board, the stock market hit its highest numbers in three years since President George W. Bush was still the Head of State.

The Dow Jones and the S&P 500 each climbed nearly one whole percentage point with 0.9% gains. The Dow Jones improved by a total of 115 points on Tuesday while the S&P 500 jumped twelve points itself. Both the increases left the two indexes at their highest levels that they have been since June of 2008, just months before the Wall Street crash. The Nasdaq also finished high on Tuesday with a final number that marks its highest level since October of 2007.

Nearly three quarters of all of the companies in the S&P 500 have done better than they have expected this year. Profits are high for most all of the companies, as well as increases in sales.

All of the growth illustrates a growth in corporate strength in the world in the years after many companies were on the brink of shutting down.

This is good for the overall strength of the American economy. The success and profit of corporations could and is likely to lead to new jobs being created and expansion within those companies.

It might be tough for many Americans to truly understand how all of this is actually a good thing. The concept of the stock market doing so well at a time when the average American is struggling to make ends meet does not compute very well in the minds of Americans. But as companies are growing and making more money, they are essentially preparing to expand and bring in more employees. Basically, money doesn’t come in and get spent on new workers immediately. Much to the chagrin of millions, it is in fact a slow build process.

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