December 23, 2014: The Stock Markets Boom!
The Dow Jones and S&P 500 have both recently hit all-time record highs (again!). All throughout 2013 and 2014, the stock markets have hit several all-time record highs — surpassing the previous highs of 2007 before the stock markets crashed during the Great Recession.
Even the Nasdaq is on track to tie it's previous record high. (On March 10, 2000, the Nasdaq Composite closed at an all-time high of 5,048 --- the decline from this peak signaled the beginning of the dot-com bubble burst.)
Since Obama first took office, the Dow is up 170% -- the S&P 500 is up 205% --- and the Nasdaq is up 207% (See charts below)
One would think that American workers' 401ks and union pensions would be doing very well, but...
80% of the stocks are owned by the top 10% --- and 50% of the stocks are owned by the top 1% --- so the uber-rich are getting richer still.
But what's in your wallet?
* Charts from Google
Finance. Click image to enlarge