Thus, as a backdrop for this upcoming speech and continuing a much deserved tribute to Bernanke's key role in helping the US avoid a Deep, Prolonged Financial Depression, I think it would be helpful to update just what has been going on with Stock Market Prices for Companies in each US State since March 6, 2009, the lowest point for the overall US Stock Market resulting from the aftershocks of the horrific late 2008 US Financial Meltdown, through the most recent date March 13, 2015......a roughly six year period of time.
Long-term Audited Earnings From Continuing Operations Under US Generally Accepted Accounting Principles (GAAP) drive Long-Term Changes in Stock Market Prices. These Company Earnings crashed with the late 2008 US Financial Meltdown and thus the linked Stock Market Prices of the related Companies also crashed.
But since the 2008 US Financial Meltdown, these Earnings have been consistently exceptional and thus the Stock Market Prices of the related Companies have also consistently exploded upwardly in the past six years.
This is the dilemma faced by the current US Fed ..... raise US interest rates or continue former US Fed Chair Ben Bernanke's economic policies which have continued to spur Company Earnings and thus also Company Stock Market Prices.
I think the current US Fed should tweak Bernanke's economic policies some to try to more effectively deal with income and wealth inequality, but why in the world would you want to alter them significantly since they have been so incredibly successful?
And the US Congress, and frankly also US Companies, just have to do a much better job addressing income and wealth inequality.
All 10 Rhode Island Companies had their stock market prices more than double in the past six years, with the lowest increase being a robust 170%.
Rhode Island Companies spectacular 699% average stock market price increase in the past six years is the highest so far of all US States in the latter part of the alphabet (R-Z).
Below here are the 10 Rhode Island Headquartered Companies with Stock Market Caps now above $100 mil and which have had their common stocks trading from December 31, 2007, or early in 2008 for companies first going public then, through the most recent date March 13, 2015, or the date the Companies were sold, if they were sold since the beginning of 2014.
|Rhode Island Company||HQs||3-13-15||3-6-09||12-31-07||3-13-15||3-6-09||3-13-15|
|United Natural Foods||Providence||RI||74.99||14.48||31.72||418%||-54%||136%|
|Washington Trust Bancorp||Westerly||RI||38.44||12.13||25.23||217%||-52%||52%|
|Average % Change all 10 Rhode Island Companies||699%||-59%||77%|