Reagan the hatchet man.

This graph (click here) is not in perspective, but, it clearly illustrates what Wall Street was doing over the last century.

Interestingly, at the time in the late 1970s when median family income fell and poverty increased the Dow Jones began to launch into hyperspace.

It was after Reagan entered office and he deregulated everything the DOW rose over 1000. It was called Reagonomics. It was not much more than standard Republican economics. Raiding natural resources and calling it an economy. Cutting taxes and calling it economic progress. But, the real Reagan 'kicker' to the economy was massive amounts of spending on "peace time defense spending." Reagan's "Peace through Strength" increased military spending by 40%.

Wall Street loved the guy. At the same time Reagan assaulted unions with the Air Controllers Strike and the USA wage started it's stagnation and decline. The Middle Class was under assault, but, it didn't feel like it yet. 

The Dow Jones industrial average closed above the1,000 mark yesterday (click here) for the first time in history.
It finished at 1,003.16 for a gain of 6.09 points in what many Wall Streeters consider the equivalent of the initial breaking of the four-minute mile.
"This thing has an obvious psychological effect," declared one brokerage-house partner. "It's a hell of a news item. As for the perminence of it -- well, I just don't know."
Last Friday, the Dow surpassed 1,000 during the course of a day's trading, but it fell back below the landmark figure by thew end of the session....