Wall Street

by Mark Wilson

Funny how we’ve stopped seeing the Dow-Jones Industrial Average used as a barometer for the economy. Have you noticed? People aren’t talking about the stock market as much as they used to. It’s probably because they’ve observed, throughout this financial crisis, that what’s good for Wall Street is usually inversely proportional to what’s good for the non-wealthy, non-banker elites; that is, the vast majority of the country. The DJIA remains close to the highest it’s ever been: it closed today at 12,810.54. Meanwhile, unemployment remains close to the highest it’s ever been throughout the financial crisis: 9.2% in March.