Those rising stock prices have certainly helped one group: billionaires. Two years ago, according to Forbes Magazine, there were 359 US billionaires, controlling $1.061 trillion in wealth. The magazine's assessment for 2011 found 412 US billionaires with wealth totaling $1.484 trillion.
Yet on Main Street, the view is somewhat different.
Poughkeepsie is the county seat for Dutchess County. As such, it has a certain amount of built-in stability from courts, law firms, and hospitals.
The Brookings Institution's Metropolitan Policy Program puts Poughkeepsie's economy in the middle of the 100 metro areas it measures. Most of those "middle" cities have some mix of government, education, health care, professional services, and food service, says Mark Muro, policy director of the program.
But that did not insulate Poughkeepsie economically.