stock market

Wading through all of the varied political issues and hot buttons of an election year can be difficult for both candidates and voters. But what if there's only one thing that determines the outcome of a presidential race? Turns out, it may really be that simple.

Eenie, meenie, miney, moe -- where should my cash savings go? That's the riddle many Americans are trying to figure out these days. After the necessities are taken care of, it's time to choose: mattress, stock market or mortgage? Do the math and the answer is clear.

The Dow Jones industrial average on Tuesday reclaimed the last of the ground it held before the carnage of the Great Recession %u2014 bailouts, bank failures, layoffs by the million and a stock market plunge that cut retirement savings in half. The Dow closed above 13,000 for the first time since May 19, 2008, almost four months before the fall of the Lehman Brothers investment bank triggered the worst of the financial crisis.

The Dow Jones industrial average crossed 13,000 on Tuesday for the first time since May 2008, when the Lehman Brothers investment bank was solvent, unemployment a healthy 5.4 percent and the worst of the Great Recession months ahead. The milestone came about two hours into the trading day. The stock market got the final push from strong corporate earnings reports and a Greek bailout deal intended to prevent the next financial crisis.

Taking note of the Dow's progress, The Wall Street Journal recently called its performance "eerie ... calm ... too quiet." Indeed, if things keep going at the rate they have been going so far, we're on track for the stock markets to gain more than 50% this year. Dow 18,000, anyone?

Over the past couple of weeks, with little fanfare, three small brokerages bit the dust due to a dearth of trading activity on the stock markets and a lack of capital in-house. This may not matter much, but it could be the beginning of a wave of failures on Wall Street.

Stocks are opening slightly lower despite a government report that the unemployment rate dropped in December to the lowest level in nearly three years. The Labor Department said early Friday that the unemployment rate fell last month to 8.5%, while U.S. employers added a net 200,000 jobs.

With 2011 fast coming to a close, it's time to think about what's next -- if you dare. We've got the good news, the bad news, the key points to watch and some good advice on getting through 2012 with your finances intact.

More ominous developments on the darkening retirement front: The total value of Americans' retirement assets stood at $17 trillion at the end of September -- a drop of 7.5% from the record high of $18.4 trillion recorded on June 30, 2011.

Filmmaker and political gadfly Michael Moore has joined the Occupy Wall Street movement, and his tirades against corporate greed, bailouts for bankers, unemployment are all mostly accurate and on point -- but when he says "the 99%" should stay out of the markets, he's giving terrible financial advice.