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CNBC reports:
Stocks End Lower, but Still Up for February; Dow Within 100 Points of 2007 Record Peak
Okay, but you'd think CNBC could find the space to mention that in the 13 years from right before the crash of 1987 to right before the crash of 2000, the Dow climbed 10000 points, and in the 13 years since has climbed only 2000.
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The media will print anything that looks like a "the economy is doing swell" story and squash anything that makes Obama look like he is an incompetent boob.
The market is up because the supply of new stock is stable and the demand for it is rising. All of those 401K and TSP accounts bring new cash into the market every week that need a stock to buy. That means someone has to be convinced to sell. Rising price is the mechanism for accomplishing that.
There isn't any greater value in the market. And there aren't higher profits being disributed in dividends.
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