Facts That Make A Difference
1. MILESTONE REVISITED - The S&P 500 closed above 1000 Monday (8/03/09), the first time the stock index had done so since 11/04/08 (the day Barack Obama was elected the # 44 President of the US). The first time the S&P 500 closed above 1000 was on 2/02/98 or 11 ½ years ago (source: Standard & Poor’s).
2. UP FROM A LOW - The best “1st year recovery” for the S&P 500 from a bear market low close over the last 50 years took place in 1982-83 when the stock index bounced back with a +58.3% gain from a 8/12/82 low close (i.e., change in the raw index not counting any reinvestment of dividends). When the S&P 500 closed at 1010 last Friday (8/07/09), the stock index had achieved a +49.4% gain in the 5 months since hitting a closing low of 677 on 3/09/09 (source: Standard & Poor’s).
3. JUST TWO STATES - 43% of the foreclosure filings reported on properties nationwide in the first half of 2009 occurred in California and Florida (source: RealtyTrac).
4. SAVING MORE - The personal savings rate in the USA at the end of June 2009 was 4.6%. The nation’s personal savings rate was 0.2% as of 3/31/08 (source: Commerce Department).
5. LONG HOURS - 7.4% of Americans work at least 60 hours a week. 17.7% of workers put in at least 49 hours of work each week (source: Statistical Abstract of the United States, Table 582).
6. NOT MUCH - The bottom 50% of US taxpayers pays 3% of all federal income tax (source: IRS, Tax Foundation
2. UP FROM A LOW - The best “1st year recovery” for the S&P 500 from a bear market low close over the last 50 years took place in 1982-83 when the stock index bounced back with a +58.3% gain from a 8/12/82 low close (i.e., change in the raw index not counting any reinvestment of dividends). When the S&P 500 closed at 1010 last Friday (8/07/09), the stock index had achieved a +49.4% gain in the 5 months since hitting a closing low of 677 on 3/09/09 (source: Standard & Poor’s).
3. JUST TWO STATES - 43% of the foreclosure filings reported on properties nationwide in the first half of 2009 occurred in California and Florida (source: RealtyTrac).
4. SAVING MORE - The personal savings rate in the USA at the end of June 2009 was 4.6%. The nation’s personal savings rate was 0.2% as of 3/31/08 (source: Commerce Department).
5. LONG HOURS - 7.4% of Americans work at least 60 hours a week. 17.7% of workers put in at least 49 hours of work each week (source: Statistical Abstract of the United States, Table 582).
6. NOT MUCH - The bottom 50% of US taxpayers pays 3% of all federal income tax (source: IRS, Tax Foundation
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