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Monday, December 09, 2019 {{ new Date().getDay() }}

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Better Times Are Coming, For Those Who Hang On (And Mask Up)

The Dow crossed 30,000 for the first time, and three promising vaccines are on the way. These are not unrelated events. Also boosting investor optimism was Trump world's decision to finally start the transition to a Joe Biden presidency and Biden's naming of Janet Yellen as his treasury secretary.

And the good news keeps coming — if you look for it. We will probably be seeing more spectacular Christmas decorations this year as virus-stranded Americans use their extra time to do up their homes. Expect lots of 6-foot snowmen and flotillas of glowing flamingos.

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Dow Surges Past 30,000 As Investors Celebrate Biden’s Rise, Trump’s Demise

Reprinted with permission from DailyKos

In anticipation of Donald Trump's now-certain ouster, the Dow Jones surged past 30,000 during trading on Tuesday for the first time ever. The headlines are already precious.

"Wall St. trades in record territory as Biden transition begins," declared The New York Times.

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Trump Said Market Would Tank If Biden Won — But It’s Soaring

Throughout the campaign, Donald Trump claimed multiple times that if former Vice President Joe Biden were elected to the presidency, the stock market would crash and Americans' retirement funds would be wiped out.

But on Monday — the first day the stock market was open since Biden was declared the winner — the Dow Jones surged by nearly 1,400 points, setting a new record after AstraZeneca announced the success of its new coronavirus vaccine.

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We’re All In This Together (Unless You’re A Corporate CEO)

Wow, how about that Dow?

The Dow Jones Industrial Average, I mean, Wall Street's up-to-the-minute report on whether corporate stock prices are going up, down or sideways. It's the one economic indicator that our nation's media and political establishment watch religiously, claiming it tells them how our national economy is performing.

Recently, the stock market has been zooming up, up and away. So, like ancient priests watching burbling, hissing volcanos to determine if the gods are pleased or angry, the believers in the infallibility of the Dow are hailing today's economy as boom times! No need for another big round of pandemic relief payments or any other urgent actions by government, exclaim the Trumpeteers, because — Boom, Boom, Boom, look at that Dow! — shareholder wealth is pouring down on us like manna from heaven.

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