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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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 Posted: Mon Feb 27, 2017 6:04 pm Post subject: |
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| isobars wrote: | Proof # 135:
The stock market is one of the primary indicators of public faith in and opinion of ongoing news. Yet the NYT didn't even MENTION that the market has hit new all-time highs for eleven days in a row since Trump announced his tax cut details.
And, of course, the FBI told the White House “I want you to know [NYT Russia reports] story in NYT is BS,” [FBI] McCabe told [Chief of Staff] Priebus. |
Too funny. Of course the 11.5 million jobs and recovery of the Dow during Obama's tenure was an accident, and it only took Trump a few weeks to inflate a bubble. I'm getting my money out of most stocks. But here, from CNN money, is an actual success story--er accident--during Obama's competent tenure.
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f Donald Trump is lucky, he may never be faced with a market crash as gruesome as the one that welcomed President Barack Obama when he first took office in 2009.
Stocks, which already had plunged in 2008 in the wake of the financial crisis, continued to collapse in the first few weeks after Obama was inaugurated. The Dow plummeted 20% from mid-January to early March 2009.
But as anyone who follows stocks closely knows, the market bottomed in March 2009 and has been off to the races ever since.
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With that in mind, it may be tough for stocks to enjoy nearly as explosive a rally under Trump in the next four (or eight) years as it has during Obama's tenure.
The Dow has gone up more than 140% since Obama's inauguration in January 2009.
If you look at how the Dow has done since it hit its low point on March 6, 2009, it's up 210%.
If the Dow goes up 140% during the next eight years (yes, I am going to hypothetically assume that Trump winds up a two-term president for the purposes of this story) then it would be trading around 47,800.
And if it goes up 210%? The Dow would be at about 61,500.
61,500. That seems unimaginable, doesn't it? Heck, 47,800 seems (say like Wallace Shawn in "The Princess Bride") inconceivable!
But how did the Dow go from just around 6,450 at its low point eight years ago to the precipice of 20,000 today? Obama does deserve some, albeit not all, of the credit.
The $787 billion economic stimulus package approved by Congress just a month after Obama became president helped get the economy (and market) back on track.
dow obama
However, the bank bailout (love it or hate it) that was put into place during the last few months of the George W. Bush administration also is largely responsible for stabilizing large banks, one of the primary culprits of the 2008 collapse.
Dow components JPMorgan Chase (JPM) and Goldman Sachs (GS) have skyrocketed since the bailout and are not far from their record highs.
Emergency programs put into place by the Federal Reserve in 2008 and early 2009 -- and the maintaining of historically low interest rates throughout Obama's tenure -- also played a role in stabilizing the markets.
The dramatic rise of several big technology stocks in the past eight years has also helped propel the market higher. That may have little to do with Obama.
Apple's (AAPL, Tech30) shares have surged more than 415% since he took office. Amazon's (AMZN, Tech30) are up an astonishing 900%.
And Facebook (FB, Tech30), which went public during the last few months of Obama's first term in 2012, is up 230% from its offering price.
Does Obama deserve credit for the genius of the late Steve Jobs, Jeff Bezos and Mark Zuckerberg? Not really.
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nw30
Joined: 21 Dec 2008
Posts: 6485
Location: The eye of the universe, Cen. Cal. coast
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| Posted: Mon Feb 27, 2017 9:41 pm Post subject: |
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| mac wrote: | | isobars wrote: | Proof # 135:
The stock market is one of the primary indicators of public faith in and opinion of ongoing news. Yet the NYT didn't even MENTION that the market has hit new all-time highs for eleven days in a row since Trump announced his tax cut details.
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I'm getting my money out of most stocks.
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When, today? New record today, how about tomorrow? Hmm, could be another record tomorrow.
Friday is always a good day, profit taking on Fridays, but then there is next Monday, could be like today. Wow, glad I'm not in your shoes.
Maybe let it ride for just two more weeks, yeah, that's it, just two more weeks, it can't last two more weeks, no way!
But don't sell when it's on the way up, but when is it going to stop?
Do you really know?
It's not easy putting your money where your mouth is, is it?
Good luck. |
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Mon Feb 27, 2017 9:48 pm Post subject: |
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NW--there is no adult in the room. Exactly how Trump, or one of his tweet's, will blow up the economy I don't know. But is probably the only thing about Trump I am confident about.
But you neglected the real point--Obama brought us back from the precipice. And he is twice as popular as the criminal in chief. That must really stick in your craw. Oh, and he had the vocabulary of an educated adult, not a third grader. |
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mat-ty
Joined: 07 Jul 2007
Posts: 7850
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| Posted: Mon Feb 27, 2017 10:32 pm Post subject: |
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| mac wrote: | NW--there is no adult in the room. Exactly how Trump, or one of his tweet's, will blow up the economy I don't know. But is probably the only thing about Trump I am confident about.
But you neglected the real point--Obama brought us back from the precipice. And he is twice as popular as the criminal in chief. That must really stick in your craw. Oh, and he had the vocabulary of an educated adult, not a third grader. |
Twice as popular in Fairlyland but not the voting booth.
The man decimated your party, and you fools still praise him.  |
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real-human
Joined: 02 Jul 2011
Posts: 14890
Location: on earth
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| Posted: Tue Feb 28, 2017 1:12 am Post subject: |
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| isobars wrote: | Proof # 135:
The stock market is one of the primary indicators of public faith in and opinion of ongoing news. Yet the NYT didn't even MENTION that the market has hit new all-time highs for eleven days in a row since Trump announced his tax cut details.
And, of course, the FBI told the White House “I want you to know [NYT Russia reports] story in NYT is BS,” [FBI] McCabe told [Chief of Staff] Priebus. |
Ya I trust a white house who is on record saying he is entitled to go grap any females pussy... ie sexual assault.. he is also a rapist and wife beater with a rape lawsuit that was filed that he raped a child when she was 13 years old. Ya like I would believe a pathological liar. wow the definition of right winger in today's world.
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when good people stay silent the right wing are the only ones heard. |
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real-human
Joined: 02 Jul 2011
Posts: 14890
Location: on earth
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| Posted: Tue Feb 28, 2017 1:13 am Post subject: |
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| mat-ty wrote: | | mac wrote: | NW--there is no adult in the room. Exactly how Trump, or one of his tweet's, will blow up the economy I don't know. But is probably the only thing about Trump I am confident about.
But you neglected the real point--Obama brought us back from the precipice. And he is twice as popular as the criminal in chief. That must really stick in your craw. Oh, and he had the vocabulary of an educated adult, not a third grader. |
Twice as popular in Fairlyland but not the voting booth.
The man decimated your party, and you fools still praise him. |
idiot, Hillary had more votes and the other states were suppressed illegally and immorally. You hate americans voting...
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when good people stay silent the right wing are the only ones heard. |
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nw30
Joined: 21 Dec 2008
Posts: 6485
Location: The eye of the universe, Cen. Cal. coast
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| Posted: Tue Feb 28, 2017 1:00 pm Post subject: |
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| mac wrote: | NW--there is no adult in the room. Exactly how Trump, or one of his tweet's, will blow up the economy I don't know. But is probably the only thing about Trump I am confident about.
But you neglected the real point--Obama brought us back from the precipice. And he is twice as popular as the criminal in chief. That must really stick in your craw. Oh, and he had the vocabulary of an educated adult, not a third grader. |
"back from the precipice", never really proven, it is, and will always be speculation by the main stream media, the same media that is sure Russia got Trump elected. I neglected nothing.
But in the meantime, we have this. Sell all your stocks now mac, why wait?
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Consumer confidence soars to a 15-year high
Feb. 28, 2017, 10:05 AM
The Conference Board's consumer confidence index surged to 114.8 in February from January's print of 111.8, making for the best reading since July 2001.
The internals of the report looked good as the Present Situation Index jumped 3.4 points to 133.4 and the Expectations Index climbed 3.1 points to 102.4.
February's reading topped the 15-year high of 113.7 set back in December after Donald Trump's election victory.
“Consumers rated current business and labor market conditions more favorably this month than in January," Lynn Franco, Director of Economic Indicators at The Conference Board, said in the report. "Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead.”
http://www.businessinsider.com/conference-board-consumer-confidence-february-2017-2017-2 |
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boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
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| Posted: Tue Feb 28, 2017 1:50 pm Post subject: |
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| NW....The US economy lost 2.1MM jobs in the first three months of 2009. Washington Mutual ATM's maxed out withdrawals at $100. The Reserve Fund , a money market fund 100 years old broke the "buck" for the first time ever. You can ignore facts all you want and blame the media for all that you want, but facts do matter. The S&P 500 is 9% above its 200 day moving average, a clear sign of being overbought... |
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mat-ty
Joined: 07 Jul 2007
Posts: 7850
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techno900
Joined: 28 Mar 2001
Posts: 4161
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| Posted: Tue Feb 28, 2017 2:31 pm Post subject: |
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Trump's election may have boosted the market, but his election, clearly didn't cause a down turn.
Regardless, the market will tank sometime in the next year or two (maybe just a correction), but no doubt, Trump will get the blame.
No credit for going up, but blame for going down - liberal talking points. |
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