STOCK MARKET WATCH: Monday, 6 May 2024

[Tansy_Gold]

STOCK MARKET WATCH: Monday, 6 May 2024

Previous SMW:
SMW for 3 May 2024



AT THE CLOSING BELL ON 3 May 2024


Dow Jones 38,675.68 +450.02 (1.18%)
S&P 500 5,127.79 +63.59 (1.26%)
Nasdaq 16,156.33 +315.37 (1.99%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:






(Awaiting new links)


Gold & Silver:

(Awaiting new links)


Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

In the view from the top, the crisis was military and political and economic all at once. Lyndon Johnson, riding the crest of the boom, had gambled that he could war in Vietnam and on poverty at the same time. To win the glory of completing the New Deal, he refused to trim back his Great Society to pay for a war he imagined to be an extension of the New Deal abroad.

Todd Gitlin. The Sixties: Years of Hope, Days of Rage. Bantam Books. © 1987.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[bucolic_frolic]

1. That is quite a Quote for the Day

"To win the glory of completing the New Deal, he refused to trim back his Great Society to pay for a war he imagined to be an extension of the New Deal abroad."

The Vietnam War was an extension of the New Deal?

Republicans thought the New Deal was pinko commie socialism!

The Vietnam War was fighting pinko commie socialism in Vietnam, domino theory notwithstanding.

So we were fighting pinko commie socialism with pinko commie socialism?

I guess the only thing worse than our pinko commie socialism was somebody else's pinko commie socialism, that they owned instead of us. Or that author is nuts.

Soldiers will tell you we fought for the oil. Were we supporting the oil rich nations in SE Asia. You know, our allies because we supported them and they sold us oil.

[Tansy_Gold]

2. Gitlin was far from "nuts."

Back in the day, it was possible to compartmentalize American exceptionalism and American capitalism as completely separate from American socialism. Of course it was for resources, but it had to be sold as something else, and it was easier to keep a hot war going over there to prevent the cold war from becoming a hot war here. So we were told it was all to fight communism, but some of us knew better.

To show you how effective the home-grown propaganda was -- In the fall of 2000, I was in a grad school class with a bunch of fairly young high school teachers working toward their masters degrees, including a couple of history teachers. One young guy, probably not more than 22, 23 years old, just starting his second year of teaching American History at a local high school, was an obnoxious know-it-all. The subject at hand happened to be social change in the 1960s, and I was one of a couple students in the class who had actually been around then. As we started to discuss the power of protests and social movements, this young man dismissed it all as a bunch of left-wing malarkey, that there hadn't been any "movements" that actually accomplished anything.

"Excuse me," I said, looking right at him, "but there were a lot of movements and a lot of protests and a lot of people who got involved and made change happen, or at least started the process. The civil rights movement, the gay rights movement, the women's movement, the anti-war movement."

Our newly minted American History teacher just sneered at me and said, "Yeah, right, like what war was that? The cold war?"

Astonished that an American History teacher could be so ignorant, I shook my head and said, "No, the Vietnam War. You've heard of it, right?"

He apparently hadn't.

Lyndon Johnson inherited a mess he couldn't clean up, and his failures made everything worse, setting the stage for Nixon. But all of it was indeed political, military, and economic, as it still is today. The venues may have changed, but the issues haven't.

[bucolic_frolic]

3. Agree, compartmentalization is a missing link

History was taught without hardly any mention of economics, and financial history remains obscure to this day even in Finance departments. Politics in history courses was just something that happened, no analysis, not much political spectrum.