Mike Shedlock has provided a chart that says it all. Here were the closing levels on the Dow Jones on the last day of February in 2008 and 2013:
Dow Jones – February 29, 2008 – 12,266
Dow Jones – February 28, 2013 – 14,054
This is a 14.6% increase in 5 years. Not great, but still a positive return. Meanwhile, the working age population has risen by 12 million, there are 2.3 million less employed Americans, there are 5.3 million less full-time employed Americans, 9.8 million Americans supposedly left the workforce by their own choice, there are 20.3 million more Americans on food stamps, the median household net worth has declined by 30%, and real wages are lower than they were in 2008. These FACTS certainly mean that the stock market should be hitting all-time highs. Right? Who is winning? You or them?
|Year||Population||Labor Force||Not in LF||Employed||FT Employed||PT Employed||Unemploy.||SNAP|